'Charge' was not registered as per the provisions of Section 77 (1) of the Companies Act, 2013 and as envisaged under the IBC 2016, hence the Creditor cannot be treated as a 'Secured Creditor'.
The Appellate Tribunal held that the grant received was not taxable as revenue receipt since the said grant was given to recoup the losses incurred by the assessee and was hence, in the nature of capital contribution.
TDS is to be deducted at the rate of 2% on payments made to the supplier of taxable goods/services, where the total value of such supply, under an individual contract, exceeds Rs. 2,50,000.
A firm having zero income is not liable for tax audit under section 44AB. It does not make any difference that the loss is after deducting the salary and interest to partners.
If learning is made a lot more creative, and we are taught to apply minds then we will be able to develop the art of 'critical thinking. It is certainly the need of the hour.
A rational person can see the presence of CAs in any field. Whether budget planning, tax planning, bookkeeping, investment accounting, or financing etc, requirements for auditors exist in all areas.
A CA can earn up to 75 lakhs per year in the present (post-pandemic) circumstances, with the lowest packages being around 5-6 lakhs per year.
From passing the entrance exam, training as an article, clearing the next two levels of the course, one has to go through a lot to become "A Proud Chartered Accountant".
As per ICAI, the average salary of a CA in the campus placement, held in Feb-March was Rs 8.40 lakhs p.a. The highest salary package offered was 22.30 lakhs p.a.
Tax calculated under self assessment is required to be deposited by the assessee before submitting an ITR. The tax so paid shall be adjusted towards the tax liability as ascertained on regular assessment.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
