CAclubindia Articles

Top 10 Red Flags That Trigger a Tax Audit

Mitali 13 September 2023 at 13:23

A tax audit is a formal examination of a taxpayer's financial records and tax returns by a government tax authority (such as the Internal Revenue Service in the United States) to ensure accuracy and compliance with tax laws.

Streamlining Tax Credits: How New Form 71 Resolves TDS Mismatch Issues

Rashmi 13 September 2023 at 08:55

The Central Board of Direct Taxes (CBDT) has introduced Form 71, which allows taxpayers to correct incorrect Tax Deducted at Source (TDS) credits for past financial years

Declaration of no PE in India and Form No. 10F

Mitali 12 September 2023 at 16:58

No PE Declaration is a certificate provided by a non-resident who earns income from India, such as interest, fees for technical services, or business income.

How to Register on TDS TRACES Website

Shivani 12 September 2023 at 15:27

TRACES (TDS Reconciliation Analysis and Correction Enabling System) is an online platform in used for the reconciliation of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) statements filed by deductors or collectors with the income tax department.

Comprehensive Guide to Annual Filing Forms AOC-4 and MGT-7

Affluence Advisory 12 September 2023 at 14:03

We have made an attempt to provide information cum clarification on Forms AOC-4 & MGT-7 for reporting the Financial Statements and Annual Return, respectively, as the Annual Filing is soon approaching.

Top Invoicing Tips for Freelancers and Independent Contractors

Niyati 12 September 2023 at 13:29

Freelancing and independent contracting have become increasingly popular in recent years, offering individuals the freedom to choose their projects, set their schedules, and work from virtually anywhere.

An agreement for loan has to be accepted by AO unless proved fraudulent

Vivek Jalan 12 September 2023 at 09:02

Vide Finance Act, 2012, it was provided that the nature and source of any sum, in the nature of share application money, share capital, share premium or any such amount by whatever name called, credited in the books of a closely held company shall be treated as explained only if the source of funds is also explained in the hands of the shareholder