CAclubindia Articles
What to Do If You Receive an Excess Income Tax Refund: A Simple Guide
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)?
24 August 2023
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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
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
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?
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
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.
Form MGT 14: Types of Resolutions
Form MGT 14 was created by the Companies Act, 2013 in order to provide specific decisions to the Registrar of Companies (ROC).
Discipline regarding "quasi-criminal" penal proceedings
Discipline regarding penal action under various tax laws are widely discussed. Two interesting recent cases under Income Tax allows one to reflect further.
Accountant or Business Accountant: An Industry Perspective
Although in a Large Industry, the various functions are handled by various departments still the Role and the expectation from CFO is always the guiding person to the CTO or COO or the different functions unless the person wants to stick to numbers.
Which ITR to choose for Commission Agents: ITR 3 or ITR 4?
Commission Agents are Businessman or Professionals? What do you think?If you think that Commission Agents are Professionals, then you are wrong. Many people tho...
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