CAclubindia Articles
TDS on purchase of goods
The Finance Act 2021 has inserted a new section 194Q to provide for TDS by person responsible for paying any sum to any resident for purchase of goods of the value in excess of 50 Lakhs.
Why Natural Gas Should Come Under GST Regime
Sandeep Kumar Gupta, the chairman of GAIL, suggests that the government should promote the use of natural gas and reduce emissions in various industries. He also proposes bringing natural gas under the GST regime and extending production-linked incentives to LNG-powered vehicles.
Issues Pertaining to HRA claims
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
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?
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
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
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
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
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
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.
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