CAclubindia Articles
CBDT issues order giving effect to the Budget proposal of remitting petty tax demands
In the Interim Budget 2024-25, The finance minister proposed to withdraw direct tax demands up to INR 25000 pertaining to the period up to tax year 2009-10 and up to INR 10000 for tax years 2010-11 to 2014-15.
Best Investment Plan for 5 Years
Success Mantra "Don't depend on a single plan for your success". Every person wants to secure his future by investing his small earnings
Section 148A Notice: Dangerous as Ak-47 Riffle in the hands of AO - Beware
Section 148A of the Income Tax Act, 1961, pertains to the issuance of notices for assessment or reassessment in certain cases. It is as dangerous as the AK-47 rifle in the hands of the Department if we wrongly respond to this notice. Be Careful!
What are the ways to reduce your income tax?
This article will give you information on "How to Minimize Income Tax".
The 45 Day Payment Rule
These days everywhere you see people are talking about the 45-day payment rule (MSME Section 43B (h)) but often people are more confused rather than convincing so let's understand this entire concept.
Is Stipend Taxable
A stipend is a sum of money paid to someone which are typically smaller than salaries and are provided to individuals to support them financially while they gain knowledge and experience through education, training, or specific positions.
Applicability of provisions to collect taxes at source ('TCS') on foreign payments
Vide notification dated 16 May 2023, the government deleted the above-mentioned exception. It included the payments by use of an International Credit Card for making payment by a person towards meeting expenses while such a person is on a visit outside India within the ambit of LRS.
Payments to MSME vendors
Section 23 of the MSMED Act provides that where the assessee is liable to make payments of interest under or in accordance with the provisions of the MSMED Act, no deduction shall be allowed to the assessee for such payments for calculating taxable income under the Income Tax Act.
Applicability of IND AS
MCA has notified a phase-wise convergence to IND AS from current accounting standards. IND AS shall be adopted by specific classes of companies based on their Net worth and listing status.
Appeals and Review Mechanism under GST
Appeal under any law is an application to a higher authority for a reversal of the decision of a lower authority. Appeals arise when there are any legal disputes. Here, we are discussing appeals under GST law.
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