CAclubindia Articles
GST on Real Estate Sector
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
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
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
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
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.
The Importance of Complying with the Companies Act for Businesses
In this article, we will explore the significance of complying with the Companies Act.
Tax Audit also helps as Vighna-harta!
How does undergoing an income tax audit solve issues and make things easier for businesses?
Top 4 mistakes to avoid in view of Circulars issued in July 2023
Clarification to deal with difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for the period 01.04.2019 to 31.12.2021 through Circular No. 193/05/2023-GST dated 17-7-2023.
PMLA Act Tightens for Banking & Financial Transactions
Bank Accountholders undertaking specified transactions to be alert as PMLA Act becomes more stringent for Banking/NBFC/Financial and other Entities
Top 10 changes impacting small business which are made effective in July and Aug 2023
E-Invoice limit has been reduced w.e.f. 1-8-2023, and now those registered persons whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds Rs. 5 crore are required to issue E-invoice for Export invoice and B2B supplies.
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