CAclubindia Articles

Your Complete Guide to Filing Belated Income Tax Returns: Important Dates, Penalties and Benefits

Posted by Rashmi 01 August 2023 4852 Views

When you file a belated income tax return, you need to pay a late filing fee and penal interest on any taxes you owe. Here's what you need to know about filing a belated income tax return in simple English.

Role Of Auditor: Balancing Audit Procedures And Professional Skepticism

Posted by CA Amrita Chattopadhyay 01 August 2023 5078 Views

This article delves into the significance of auditors' role in the financial ecosystem, emphasizing the delicate balance between conducting thorough audits and staying vigilant against potentially fraudulent activities.

Applicability of Legal Entity Identifier (LEI)

Posted by Affluence Advisory 01 August 2023 2013 Views

The Legal Entity Identifier (hereinafter referred to as "LEI") is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction.

Clarification of ISD vs Cross charge

Posted by Kusum Gandhi 01 August 2023 3072 Views

Clarification on taxability of transactions between an office of an organization in one State to the office of that organization in another State, both being di...

GST Implications for EV Charging Stations: Charging Services and Taxation at 18%

Posted by Vivek Jalan 01 August 2023 5793 Views

EV Vehicles charging stations to provide ‘battery charging service’ and not supply or distribution of ‘electricity’ – liable to GST @ 18%

TDS Correction: How to revise TDS return

Posted by Aisha 31 July 2023 12937 Views

TDS returns are quarterly statements that every deductor is required to submit. These returns contain information about the tax deducted at source, the PAN numbers of the deductees, particulars of the tax collected, and details of the tax paid to the government, along with the TDS challan or receipt numbers.

Provisions of E-Way Bill

Posted by Ayush 31 July 2023 8654 Views

An e-way bill is a document generated electronically on the government portal by businesses or individuals who are responsible for the transportation of goods worth more than a specified value from one place to another.

Last Date 31st July 2023 To File ITR

Posted by Mitali 31 July 2023 5560 Views

Income Tax Return (ITR) is a form used to declare an individual's or entity's income and taxes paid or owed to the government during a financial year.

File Income Tax Return Even if PAN is Inoperative - A Guide

Posted by Rashmi 31 July 2023 7231 Views

According to the Income Tax Department, if you forgot to link your PAN with Aadhaar by June 30, 2023, you can still file your income tax return. The last date to file ITR for individuals not requiring audit for FY 2022-23 (AY 2023-24) is July 31, 2023.

Tax Benefits for Education: Exploring Credits and Deductions in India

Posted by Shivani 31 July 2023 3567 Views

IntroductionEducation unlocks potential and advances society in a changing world. The Indian government encourages investments in education, skill development, ...