CAclubindia Articles

Understanding Loans, Types of Loans For Individuals & Businesses and Tax Benefits around Them

Taxblock 30 September 2021 at 09:36

Business loan interest is eligible for exemption, however, the principal amount of the loan is not provided with any tax benefit. The interest is usually deducted from gross income.

Sukanya Samriddhi Yojana Scheme and its Tax Benefits

Taxblock 30 September 2021 at 09:36

Investments made under Sukanya Samriddhi Yojana Scheme are eligible for deduction under Section 80C. The interest accrued on the investment is also eligible for tax exemption.

What to Expect from a Limited Review?

CMA Mrudula M 29 September 2021 at 15:56

In a limited review, the interim financial information is analytically reviewed and inquiry procedures are conducted to identify whether the interim financial information is free from material misstatement.

Side Effects of poor functioning of New Income Tax Portal

CA Umesh Sharma 29 September 2021 at 09:36

Due to technical glitches on the new Income Tax portal, taxpayers have failed to file Income Tax Return, Audit Report and there is a delay in submission of Financials in the bank for loan purposes.

22000+ Compliance Reduced by Ministry

CS Lalit Rajput 29 September 2021 at 09:34

With the intent to ensure "Minimum Government, Maximum Governance" the Government of India embarked on an ambitious journey to reduce burdensome compliances.

Other Compressive Income in IND AS

Aniruddha Deshpande 29 September 2021 at 09:33

To provide exact profitability and bring more transparency to the financial statements of a company, the concept of Other Comprehensive Income was introduced in IND AS.

Concept of GST on Job Work

Neethi V. Kannanth 29 September 2021 at 09:32

Job work means processing or working on raw materials or semi-finished goods supplied by the principal manufacturer to the job worker.

Tips To Study Smarter For CS Executive

Tushar Pahade 29 September 2021 at 09:30

Learn to make the most of the day and plan your study routine. If you follow some proven smart learning tips, you'll be learning and memorize in no time.

What are Liquid Mutual Funds?

Ritik Chopra 29 September 2021 at 09:29

In this article, the author explains the meaning of liquid mutual funds, their suitability and their advantages.

Annual Compliance For Section 8 Companies

CS Lalit Rajput 28 September 2021 at 09:38

Under the Company Law provisions, the concept of Section 8 companies permitted companies with charitable objects etc. to be registered without the words 'Limited' or 'Private Limited'.