CAclubindia Articles

What is audit and what are the different types of audits?

Posted by Taxblock 20 September 2023 6654 Views

Audit is the activity of evolution and determine the financial, operational and strategic goals and exercise in an organizations to decide if the organization is in accordance with the rules and regulations.

GST on Real Estate Sector

Posted by CA Kapil Goyal 20 September 2023 18637 Views

Real estate is an important pillar of the India Economy. Taxation of real estate sector has always been critical issue, before GST was introduced in 2017 various taxes like Vat, Central Excise duty Service tax etc, were paid by the buyer. The cost incurred of these taxes by builder was then transferred to the buyer.

Most Ignored Section 80GG - Deductions in Respect of Rents

Posted by Amol Gopal Kabra (CA,CS,DISA) 20 September 2023 226670 Views

SECTION 80GG DEDUCTIONS IN RESPECT OF RENTS PAID Section 80GG is a little ignored Section of the Income Tax Act, 1961. This section provides deductions to those individuals who dont get any benefit of the amount paid towards rented accomm

Taxes on Slot Machine Winnings: Everything You Need to Know

Posted by Ayush 20 September 2023 1755 Views

Picture this: You're at your favourite casino, the reels are spinning, the lights are flashing, and then it happens—a winning combination. The slot ma

Understanding GST Summons: Your Rights, Duties and Validity

Posted by Abhishek Raja 20 September 2023 5595 Views

In this article, we will delve into the concept of GST summons, including what they are, how they work within the legal framework, and what your rights and duties are when you receive a summons. We will also discuss the validity of summonses and the importance of understanding how they function in the GST system.

Revenue Vs Capital Expenditure & Depreciation on Capital Expenditure: The argument continues

Posted by Vivek Jalan 20 September 2023 2577 Views

By terminating the services of a vendor, an assessee may intend to save the expense that it would have had to incur in the relevant previous year as well as for few more years going ahead. However, it cannot be said that this saving is an enduring benefit or has resulted in creating an asset.