CAclubindia Articles

Stock Brokers and Depository Participants: Increased Website Compliance

Posted by Affluence Advisory 28 August 2023 1040 Views

SEBI has issued a circular dt: February 15, 2023, vide which SEBI has specified certain information that is required by Stock Brokers and Depository Participants to be published on its website.

New Income Tax Slabs (FY 2023-24): An Illustrative Analysis

Posted by Chetan Chauhan 26 August 2023 15965 Views

Rebate limit of Personal Income Tax to be increased to Rs. 7 lakh from the current Rs. 5 lakh in the new tax regime. Thus, persons in the new tax regime, with income up to Rs. 7 lakh to not pay any tax.

GST Rates on Sporting Goods and Toys

Posted by Ishita Ramani 26 August 2023 4891 Views

Let's explore the GST on toys and sporting goods in more detail. Let's quickly review what GST is and its significance before moving on to the tax rate on toys and sporting items.

Safe Harbour Rules extended to AY 2023-24

Posted by Vivek Jalan 26 August 2023 6487 Views

The Safe Harbour Rules for Transfer Pricing were introduced by the Finance Act, 2009 to reduce the transfer pricing disputes, provide certainty to taxpayers, align safe harbour margins with industry standards, and expand the scope of safe harbour transactions.

MCA's Latest Amnesty Scheme for LLP 2023

Posted by CS Divesh Goyal 25 August 2023 12585 Views

In this article, the author shall discuss "Latest Amnesty Scheme introduced by MCA in relation to Limited Liability Partnership".

What to Do If You Receive an Excess Income Tax Refund: A Simple Guide

Posted by Rashmi 25 August 2023 9713 Views

In recent years, the Income Tax Department has been processing income tax returns (ITR) faster. However, this speedy process has led to some issues. When ITRs are processed quickly, taxpayers might not have enough time to correct mistakes they made in their original returns.

Impact of insertion of Rule 88D in CGST Rules 2017

Posted by Affluence Advisory 25 August 2023 25786 Views

The captioned rule deals with differences in ITC availed as per GSTR-3B and credit reflecting in GSTR-2B of a particular period/periods.)

What is Schedule Assets and Liabilities (Schedule AL)?

Posted by Poojitha Raam Vinay

24 August 2023 50788 Views

Schedule AL is a statement of disclosure of assets and liabilities which the taxpayer shall disclose in the Income Tax Return (ITR). This was introduced from AY 2016-17.

Understanding IND AS 32: A Guide to Financial Instruments Presentation

Posted by CA Sanat Pyne 24 August 2023 31460 Views

The purpose of IND AS 32 is to provide transparent and relevant information about financial instruments to stakeholders, including investors, lenders, and regulators.

Reversal of ITC in case where Supplier has not remitted the tax

Posted by Affluence Advisory 24 August 2023 8706 Views

ITC reversal in the hands of recipient of goods or services in case of default made by supplier by not depositing the tax collected with the Government.