CAclubindia Articles
New Inventory Valuation guidelines under Income Tax
The Finance Act 2023 has taken a major step forward by introducing the concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of the Income Tax Act.
11 Accounting Advantages - Let's Crack the Code
Let's look on a journey through 11 key advantages of accounting, by real-life examples to understand their significance.
A Step Towards Simplicity: Unregistered Suppliers Enrolling for E-commerce Supply
In a recent development by the GSTN, a significant advisory was issued on October 12, 2023. This advisory pertains to unregistered suppliers and their need to obtain an enrolment number on the GST Portal, validated through their PAN, before conducting any supply through an ECO.
MVAT Audit Report in Form e-704
In this article, we'll go into detail about the new VAT Audit Form 704, including its deadline, important clauses, and the significance of the audit report under MVAT.
ITR requirement for loan purpose
Income Tax Return (ITR) is an important document that reflects an individual's income, taxes paid, and other financial information. Many banks and financial institutions require ITR documents to process and approve loans.
Section 192: TDS on Salary
In accordance with Section 192 of the Income Tax Act, 1961, employers are required to deduct TDS (Tax Deducted at Source) from the salary income of employees.
Changes and Compliances in GSTR 9 & 9C for FY 2022-23
The department has started issuing notices and requesting for information by comparing data disclosed in GSTR 9/9C Vs GSTR 3B.
RBI with powers allocated under section 35A
Section 35A of Banking Regulation Act, 1949 gives power to RBI to give directions to Banking Companies or Banking Company, as the case may be. The Banking compa...
Taxability of Personal Guarantee by Director and Corporate Guarantee for Related parties & for Subsidiary Company
Clarifications regarding taxability of personal guarantee offered by directors to the bank against the credit limits/loans being sanctioned to the company
Maximising Returns with AU Small Finance Bank FD Rates
In the world of investments, Fixed Deposits (FDs) have long been cherished for their stability, safety, and reliable returns. AU Small Finance Bank, a dynamic a...
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