CAclubindia Articles

Tax Rebate under Section 87A

Posted by Rashmi 26 July 2023 16902 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 2430 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 1352 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 13134 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 5279 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 10751 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