CAclubindia Articles

Practical point of views on Sec 44AD deemed profit vs Actual Profit

Akhil Pachori 28 July 2022 at 08:56

Practical Point of View in cases where Income is higher than 8%, but the person is declaring deemed profit as income u/s 44AD

5 Consequences Of Not Filing Your Income Tax Return

Shruti 28 July 2022 at 08:56

You may be thinking to yourself, "Why should I be concerned about filing my taxes? After all, I don't owe anyone anything. " Well, let me tell you, there are many consequences of not filing an income tax return that can have a huge impact on your life. Here are 5 of them!

Important Features of SPICe+ for Greater Business Ease

CS CHARU VINAYAK 27 July 2022 at 08:46

A new Web Form called "SPICe+" (pronounced "SPICe Plus") has been implemented by the Ministry of Corporate Affairs to replace the previous SPICe form as part of the Government of India's Ease of Doing Business (EODB) programmes.

Ratification in context of Companies Act, 2013

Affluence Advisory 26 July 2022 at 16:35

The expression "ratification" was precisely defined by the English Court in one old case, Hartman v. Hornsby as under "Ratification" is the approval by act, word, or conduct, of that which was attempted (of accomplishment), but which was improperly or without proper authority performed in the first instance."

Understanding What is HRA: Details & Calculation Process

Niyati 26 July 2022 at 14:32

HRA is essentially a part of your salary and is tax exempted under section 10 (13A). In other words, HRA is an allowance given by your employer to pay for your accommodation. You are entitled to claim this allowance even if your employer doesn't pay an HRA or if you're self-employed.

Indicative list of parameters for scrutiny

CA Pradeep Sharma 26 July 2022 at 09:06

The Proper Officer shall scrutinize the returns and related particulars furnished by the registered person to verify the correctness of the returns.

Reversal of ITC under GST

Neethi V. Kannanth 25 July 2022 at 16:41

Reversal of ITC means reversal of ITC utilized earlier. By doing this, there will be an increase in the output tax liability and interest may also be required to be paid depending on when the ITC is reversed.

CBDT released FAQs on AIS

Shree 25 July 2022 at 14:44

FAQs on Annual Information Statement (AIS)

Emerging Of Real Estate Sector with the Introduction of RERA, 2016

Taxblock 25 July 2022 at 14:18

Before introducing the Real Estate (Regulation and Development) Act (RERA), the real estate sector faced several challenges, such as lack of transparency, financial discipline, skewed transactions favouring the developers, and limited grievance redressal forums for consumers.

MSME cash flow challenges and how to tackle them

Suhasini 25 July 2022 at 09:28

The MSMEs have gradually stolen the limelight and ensured an equitable distribution of national wealth. MSME growth and promotion have also been a priority for the Government, which recognises its importance.