CAclubindia Articles

Error in drafting Section 87A of Income Tax Act, 1961

Posted by CA Tejas Andharia 06 February 2024 15674 Views

Most of us would be knowing about and have been claiming a rebate under section 87A of Income Tax Act, 1961. But very few of us would be fully aware about the controversial implications of new drafted proviso (b) to this section which is effective from AY 2024-25. Let's see the Section 87A of Income Tax Act, 1961 first.

EPF Accounts for NRIs: Eligibility, Process, Withdrawals and Transfers

Posted by CA Arun Tiwari 06 February 2024 1298 Views

This article explores key aspects of the EPF, including eligibility, the process of opening and managing accounts, withdrawal options, account transfers, and other crucial information for Non-Resident Indians (NRIs).

Process to add Co-Founder in a Private Limited Company

Posted by Ishita Ramani 06 February 2024 851 Views

The co-founder is the company's first employee and helps with planning, financing, employee onboarding, product development, and mentoring.

No Interest under GST on delayed filing of GSTR-3B

Posted by Vivek Jalan 06 February 2024 9890 Views

While Section 50 of The CGST Act was retrospectively amended to provide that there would be no interest liability on delayed filing of GSTR-3B to the extent of balance in The Electronic Credit Ledger

GST on Export of Services

Posted by Sparsh Wadhwa 06 February 2024 4386 Views

Exporting goods and services can have a significant positive impact on businesses of all sizes. The chance to access a diverse range of potential clients by tapping into a sizable global market is one of the main advantages.

ISD and Budget 2024 Proposal under GST

Posted by CA Roopa Nayak 05 February 2024 7491 Views

In this background, the Budget 2024 has proposed amendment to make distribution of common credit mandatorily by ISD route. This proposal is yet to be notified. The author has examined the ISD concept and the implications of the latest proposals.

Decoding Slump Sale: Merger Implications under Companies Act & Income Tax Act

Posted by Priyanshi Garg 05 February 2024 1887 Views

Slump Sale means the transfer of one or more undertakings against a lump sum consideration without values being allocated to the individual assets and liabilities.

All about TDS Returns and its Filing Procedure

Posted by CA.Sangam Aggarwal 05 February 2024 4854 Views

TDS is required to be deducted by a person for certain payments made by them. Every Assessee who has deducted TDS is required to file TDS Returns. TDS Returns are quarterly statements, which contain the information pertaining to TDS deducted and deposited. It is submitted by person who deducted TDS i.e. TDS deductor.

Highlights Of Finance Bill 2024

Posted by Shivani 03 February 2024 3926 Views

The Finance Bill 2024, presented by the government, outlines crucial financial policies and measures aimed at steering the country's economic trajectory. Here are the key highlights that will significantly impact various sectors and shape the fiscal landscape in the coming fiscal year.