CAclubindia Articles

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.

Nishtha Bothra, AIR-2, CA Inter, May 2022 in an Exclusive Conversation with CAclubindia

CCI Team 25 July 2022 at 08:46

Nishtha Bothra became AIR-2 with an amazing score of 658 out of 800, making upto 82.25%. CAclubindia congratulates her and wishes for a wonderful career in the field of Chartered Accountancy.

Scope of pre-packed and labelled items

CA Pradeep Sharma 25 July 2022 at 08:46

With effect from the 18th July 2022, this provision undergoes a change and GST has been made applicable on supply of such "pre-packaged and labelled" commodities attracting the provisions of Legal Metrology Act.

All about Loans and Credit Cards

Taxblock 23 July 2022 at 14:12

Loans and credit cards are used borrow funds and have many of the same standard credit provisions. In both loan and credit card agreements you will typically find funds offered from a lender at a specified interest rate, where the payments will be monthly, quarterly, or annually.

5 Benefits of Taking a Home Loan From PNB Housing

Shree 23 July 2022 at 10:02

Home loans can help people purchase an apartment/home of their choice/dreams. Often, people want to buy a new home but don't have ample funds. If they wait to gather the funds, the home rates might go up.