CAclubindia Articles

Cash Deposit Rules: Income Tax imposes a penalty of 60% on such transactions

Posted by Gautam Bharthry 28 July 2023 6048 Views

Cash and Deposit Rules of Bank In India, the rules regarding cash deposit and withdrawal are very strict. If you also frequently deposit and withdraw cash in the bank, then you should know these rules.

Benefits of Part Time CFO or Finance Manager for your Business growth

Posted by Heena Sheikh 27 July 2023 1479 Views

Is your organization looking for services of an experienced and qualified CFO or Finance Manager and do not want to incur high cost related to recruiting and employing the same?

Tax implications on unlisted shares to both investors and the company

Posted by Nikita Agarwal 27 July 2023 6049 Views

Investing in unlisted shares in India can have various tax implications, both at the time of acquisition and when selling or transferring these shares. U

GST Refunds on Cancelled Contracts: Supplier Obligations Explained

Posted by Vivek Jalan 27 July 2023 4838 Views

Incase of cancellation of contracts, the supplier cannot sit on refund of GST to the recipient, pending receipt of refund from the GST Department

Tax Rebate under Section 87A

Posted by Rashmi 26 July 2023 16898 Views

If your taxable income is below Rs 5 lakh in the financial year 2022-23 (assessment year 2023-24), you may be eligible for a tax rebate under Section 87A of the Income Tax Act, 1961.

Intermediary Services remain in limbo

Posted by CA Akshay Hiregange 26 July 2023 2428 Views

In this article we understand the implications of the larger bench decision of Dharmendra M. Jani in the Hon’ble Bombay High Court and the way forward for such service providers.

Follow these 4 Tips for Getting Personal Loan Approval

Posted by Shree 26 July 2023 1348 Views

Here are a few tips that prospective applicants should consider to increase their chances of getting personal loan approval

Adjudication Penalty for Late Filing of Financial Statement and Annual Return

Posted by CS Divesh Goyal 26 July 2023 13130 Views

According to Section 137(1) (Copy of financial statement to be filed with Registrar) of the Company Act 2013, A copy of the financial statements, including consolidated financial statement duly adopted at the annual general meeting of the company, shall be filed with the Registrar within thirty days of the date of annual general meeting.

Leave Travel Concession Claim: Provisions, Documents and Frequency

Posted by Nikita Agarwal 26 July 2023 5272 Views

LTC (Leave Travel Concession) is a tax benefit provided by the Indian government to salaried individuals for expenses incurred on travel. The LTC is primarily applicable to government employees, employees of public sector companies, and some private sector employees, depending on their employer's policies and the prevailing tax regulations.

Surge in Zero-Tax Income Tax Returns: A Closer Look at India's Tax Landscape

Posted by Rashmi 25 July 2023 10749 Views

India witnessed a record number of Income Tax Return (ITR) filings in FY23, reaching an impressive 74 million. Surprisingly, a significant portion of these filings, 70% to be precise, were zero-tax ITRs, indicating that taxpayers claimed nil tax liability