CAclubindia Articles

Mistakes I made during my CA Preparation

Akanksha Raut 17 January 2022 at 08:27

Some people learn through others' mistakes and some commit their own. Here I am sharing my mistakes so that you can learn from them.

Section 80U - Tax Exemption for Disabled Persons

Pranab Banerjee 17 January 2022 at 08:27

With Automatic Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2021-22

Some facts related to section 54F of IT act, 1961

FCS Deepak Pratap Singh 17 January 2022 at 08:27

The assessee purchased land from the sale proceeds of property held by him and constructed a nursing home and residential house thereon. On the residential house, he claimed exemption under section 54F of the Income-tax Act, 1961.

Valuation of free of cost supplies under GST

FCS Deepak Pratap Singh 16 January 2022 at 11:20

We know that the value of a taxable supply is the taxable base on which the rate is applied. It is important to understand and calculate the value of supply for ascertaining GST liability. GST will be applicable in the value of the goods and services supplied.

Courts cannot relax terms and conditions of insurance policy

FCS Deepak Pratap Singh 16 January 2022 at 08:01

Of the case are that complainant, M/s.Dharmanandan Dismonds Pvt. Ltd. has given diamonds to one commission agent Mr. Arjanbhai Mangukia to show the diamonds to the prospective buyers by issuing "Janghad slip" on 10.06.2002.

SC: An insurer cannot repudiate a claim by citing an existing medical condition

FCS Deepak Pratap Singh 15 January 2022 at 18:14

The facts, in a nutshell, are that the appellant had sought an overseas mediclaim policy (hereinafter referred to as "medical policy") as he intended to travel to the United States of America ("USA") to attend the wedding of his sister-in-law's daughter.

ITR Missed?? File your ITR Now!!

CS Lalit Rajput 15 January 2022 at 08:35

The Central Board of Direct Taxes (CBDT) has given one-time relaxation for the verification of e-filed ITRs, which are pending e-verification. The decision was taken amid complaints of glitches in the e-filing portal of the income tax department.

Whether benefits of Section 23(2) available to HUF?

FCS Deepak Pratap Singh 15 January 2022 at 07:29

From decision of Gujarat High Court, it is clear that a HUF is a group of natural persons, who are related to each other with blood relations. A HUF consisting of natural persons cannot be considered as a fictional entity and can be considered as owner of a house property and enjoy benefits of the provisions of Section 23(2) of the Income Tax Act, 1961.

Applicability of provisions of Section 35AD of Income Tax Act, 1961

FCS Deepak Pratap Singh 14 January 2022 at 08:15

Section 35AD provides for investment-linked tax incentive for Specified Business

Income Tax Return: A Quick Overview

Amit Kumar 14 January 2022 at 08:02

The process of Income Tax return filing is very simple, but very essential if you are earning any form of income that needs to be taxed. Income tax through TDS (tax deduction at source) can be done, but it is not mandatory if you are employed by someone else.