CAclubindia Articles

Whether Notional Interest on Security Deposit paid by employer for accommodation of its employee will also be included while calculating perquisites

FCS Deepak Pratap Singh 23 March 2022 at 09:09

Perquisite value of a residential accommodation provided by the employer to its employee will be calculated on the basis of actual rent paid or payable and no notional interest on Security Deposit deposited by employer

Taxation of commission income of insurance agents

Pooja Prasad 22 March 2022 at 08:50

A lot of confusion arises when it comes to the income tax filing of insurance agents. An insurance agent, although having aggregate turnover below the audit limits, cannot file his Income Tax Return u/s 44AD, i.e., ITR-4. How does he file his ITR then!

Insertion of Section 79A - Plugging of lacuna by the Finance Bill 2022

CA.Mohit Gupta 21 March 2022 at 09:03

In the Union Budget 2022-23 through Finance Bill 2022, among other tax measures, the Hon'ble Finance Minister recommended "Insertion of New Section 79A: No set-off of losses consequent to search, requisition and survey".

GST E-Invoice Rules modified/amended w.e.f. 1st April 2022

CS Lalit Rajput 21 March 2022 at 08:49

From April 1, GST e-invoice is mandatory for businesses with Rs. 20 crore turnover.

Thirteen Attempts and the Two Coveted Letters

Aakansha Ranjan 21 March 2022 at 08:49

Many of us expect life to be smooth and without any challenges. But the reality is that life is made of day & night, happiness & sorrow and success & failures. The sooner we accept this duality of life, the better it is for us.

Importance of certificate of insurance (COI)

FCS Deepak Pratap Singh 21 March 2022 at 08:49

A certificate of insurance (COI) is issued by an insurance company or broker. The COI verifies the existence of an insurance policy and summarises the key aspects and conditions of the policy.

Critical analysis of section 68 of Income Tax Act, 1961

CA. Pushp Kumar Sahu 19 March 2022 at 14:50

There was a great need and importance for introducing the provisions of section 68 under the income tax act, 1961 to safeguard and protect the interest of revenue, as assessee was engaged in harmful tax practices to evade tax in the form of Black Money, Accommodation Entries, Cash Credit Entries etc.