CAclubindia Articles

Issues Pertaining to HRA claims

Posted by Khush Trivedi 11 April 2024 1436 Views

The Ministry of Finance recently issued a clarification regarding media reports suggesting a special drive by the Central Board of Direct Taxes (CBDT) to reopen cases linked to House Rent Allowance (HRA) claims. These reports, according to the Ministry, are not grounded in reality, and there is no substantial evidence to support claims of a large-scale reopening of cases.

Income Tax Slabs: Comparison between old Vs new regime for the FY 2023-24

Posted by Mitali 11 April 2024 2166 Views

Deciding which tax regime to choose it completely depends upon individual financial circumstances.

Does the Onus for Non-Compliance with Compliances rest solely with the Company Secretary?

Posted by CS Divesh Goyal 11 April 2024 281 Views

In this case law, the Regional Director has entirely focused on the Company Secretary and stated that the Company Secretary is solely responsible for the Company's Secretarial Standards and Compliances. Read the editorial till end.

Differentiating TDS on Rent: Section 194IB vs 195 of IT Act, 1961

Posted by CA. Bhavik P. Chudasama 11 April 2024 3678 Views

The Income Tax Act mandates tenants to deduct Tax Deducted at Source (TDS) on rent payments under certain circumstances. This helps collect tax from landlords at the source of income. Here's a breakdown of TDS on rent under Section 194IB and 195

Valuation Report to Save 30-40% Taxes on NRI Property Sale

Posted by CA Arun Tiwari 11 April 2024 505 Views

In this comprehensive guide, we'll delve into the intricacies of valuation reports and how they can empower NRIs to achieve remarkable tax savings of up to 30-40% when selling a property in India.

House Rent Allowance and its exemption calculation

Posted by CA. Akshat Parakh 10 April 2024 8143 Views

For salaried employees house rent allowance is a component of their salary. Unlike basic salary HRA is not fully taxable, a part of it is exempted u/s 10(13A) of Income Tax Act, 1961.

FAQs on GST E-Invoice System - Invoice Registration Portal

Posted by shahyar husain 10 April 2024 10432 Views

There are numerous doubts on GST E-Invoice System - Invoice Registration Portal currently, thus the GST Portal has launched some FAQs on the same.

Issuance of notice in Form GST ASMT-10

Posted by Affluence Advisory 10 April 2024 3510 Views

Goods and Services Tax (GST) is a self-assessment-based tax scheme wherein a taxpayer is required to determine its tax liability and avail the eligible credit on a periodical basis.

A Guide to Obtaining CKYC Registration for Financial Institutions in India

Posted by CS Parveen Sihag 10 April 2024 505 Views

In India, financial institutions are mandated to obtain Central Know Your Customer (CKYC) registration from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).