CAclubindia Articles

Demystifying the Record-Breaking Surge in Income Tax Returns

Posted by Rashmi 02 August 2023 14692 Views

Record-Breaking Surge in Income Tax Returns: A Comprehensive Guide to Checking and Understanding Your ITR Status Online

Tax Audit Applicability - A Guide

Posted by CA Ruby Bansal 01 August 2023 4835 Views

Tax audit refers to the examination and verification of a taxpayer's financial records, transactions, and other relevant information to ensure that they hav

Analysis of GST Notifications dated 31st July 2023

Posted by Vivek Jalan 01 August 2023 10809 Views

One more set of notifications have been issued under GST, even as we await the 51st GST Council Meeting to be held on 2nd August 2023.

Your Complete Guide to Filing Belated Income Tax Returns: Important Dates, Penalties and Benefits

Posted by Rashmi 01 August 2023 4855 Views

When you file a belated income tax return, you need to pay a late filing fee and penal interest on any taxes you owe. Here's what you need to know about filing a belated income tax return in simple English.

Role Of Auditor: Balancing Audit Procedures And Professional Skepticism

Posted by CA Amrita Chattopadhyay 01 August 2023 5082 Views

This article delves into the significance of auditors' role in the financial ecosystem, emphasizing the delicate balance between conducting thorough audits and staying vigilant against potentially fraudulent activities.

Applicability of Legal Entity Identifier (LEI)

Posted by Affluence Advisory 01 August 2023 2031 Views

The Legal Entity Identifier (hereinafter referred to as "LEI") is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction.

Clarification of ISD vs Cross charge

Posted by Kusum Gandhi 01 August 2023 3076 Views

Clarification on taxability of transactions between an office of an organization in one State to the office of that organization in another State, both being di...

GST Implications for EV Charging Stations: Charging Services and Taxation at 18%

Posted by Vivek Jalan 01 August 2023 5875 Views

EV Vehicles charging stations to provide ‘battery charging service’ and not supply or distribution of ‘electricity’ – liable to GST @ 18%

TDS Correction: How to revise TDS return

Posted by Aisha 31 July 2023 13061 Views

TDS returns are quarterly statements that every deductor is required to submit. These returns contain information about the tax deducted at source, the PAN numbers of the deductees, particulars of the tax collected, and details of the tax paid to the government, along with the TDS challan or receipt numbers.

Types of correction in TDS return

Posted by Ishita Ramani 31 July 2023 16714 Views

The TDS idea was introduced with the intention of collecting tax at the source of revenue itself. Tax filing is a time-consuming process that is subject to unavoidable mistakes.