CAclubindia Articles

What Borrowers Need to Know About RBI's Proposed Regulations on Penalties for Loans

Posted by Rashmi 18 April 2023 2302 Views

The Reserve Bank of India (RBI) has proposed new regulations on how lenders can charge penalties on loans. Many lenders currently charge extra interest, known as penal interest, when a borrower fails to make their loan repayments on time or violates the loan terms

IND AS Adoption Guide

Posted by CA Sanat Pyne 18 April 2023 7334 Views

The adoption of the Indian Accounting Standards (IND AS) marks a significant shift in the way companies in India report their financial statements.

Strategies for preventing Financial Fraud in 2023

Posted by CA Sanat Pyne 17 April 2023 2476 Views

Financial fraud refers to any illegal or unethical activity that is committed with the intent to deceive or defraud individuals or organizations for financial gain. Financial fraud can take many forms, such as identity theft, credit card fraud, investment scams, embezzlement, and money laundering.

Income Tax Rates Slab for FY 2023-24 (AY 2024-25)

Posted by Ishita Ramani 17 April 2023 15451 Views

If you are searching for information on the Income Tax slabs and rates applicable for the financial year (FY) 2023-24 or Assessment year (AY) 2024-25 in India, this article can assist you in discovering the Income Tax slab for FY 2023-24, as well as details on the old and new tax regime.

ITC in case of motor vehicle including blocked credit

Posted by Divyanshu Sharma 17 April 2023 10441 Views

1) Motor Vehicle used for transportation of Persons(A) ITC is blocked for motor vehicles have approved seating capacity ≤ 13 persons (including the driver)IT...

Section 16 of CGST Act 2017: Eligibility and conditions for taking ITC

Posted by Harsh Kaushik 17 April 2023 16128 Views

Section 16 of CGST ACT 2017 talks about Input Tax Credit mechanism, which allow Taxpayers to offset the GST Input Tax Credit with the GST Output Tax Liability. This helps in avoiding the cascading effect of taxes and promote seamless flow of credit through the entire supply chain.

When Indian Companies are treated as Foreign Companies

Posted by Ekta Ahlawat 17 April 2023 16498 Views

In this article, the author shares with you all the applicable provisions on Foreign Company.

Digitization: A revolution in Indian Taxation

Posted by Ayush Vats 17 April 2023 4053 Views

Digitization has sparked a revolution in the Indian Income Tax Department, providing a multitude of benefits to both taxpayers and the government. With the advent of digitization, the Income Tax Department has made significant progress in modernizing various tax-related processes.