CAclubindia Articles

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 12586 Views

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

Impact of insertion of Rule 88D in CGST Rules 2017

Posted by Affluence Advisory 25 August 2023 25789 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 to Do If You Receive an Excess Income Tax Refund: A Simple Guide

Posted by Rashmi 25 August 2023 9715 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.

What is Schedule Assets and Liabilities (Schedule AL)?

Posted by Poojitha Raam Vinay

24 August 2023 50813 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 31467 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 8708 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.

What means do IPL franchise teams use to raise funds and generate income?

Posted by Aisha 24 August 2023 2484 Views

In India, the IPL is the major cricket competition. It’s made up of teams from around the country, with some of the best cricket players in the world. How are these teams, or franchises as they’re known, funded? Read this article to find out.

Income Tax Audits Decoded: A Practical Manual for Business and Professional Individuals

Posted by Rashmi 24 August 2023 4533 Views

If you earn money through a business or as a professional, there are certain rules set by the government that you need to follow. These rules ensure that your financial records are accurate and that you're paying the right amount of taxes.