CAclubindia Articles

Gold in any form fails to pass the test of second-hand goods - Kerala AAR

Posted by Abhishek Raja 20 July 2023 5908 Views

According to a recent ruling by the Kerala Authority for Advance Ruling (AAR), tax reductions provided under Rule 32(5) of the Central Goods and Service Tax (CGST) Rules are not applicable when gold is not considered a second-hand commodit

Virat Obsession: Life Lessons from the Mindset of a Champion

Posted by CA Keyur Somani 20 July 2023 6799 Views

In the vast world of sports, certain individuals transcend their fields, captivating hearts and minds worldwide. For me, that person is the iconic Virat Kohli – the former captain of the Indian cricket team and Royal Challengers Bangalore (RCB)

Avoiding ITR Filing Errors for AY 2023-24: Tips for a Smooth Process

Posted by Rashmi 20 July 2023 12380 Views

To ensure a hassle-free income tax return (ITR) filing experience, taxpayers should be mindful of certain crucial aspects. Here are some key tips to avoid common errors

Rectifying Post-Filed ITR Payments: A Step-by-Step Guide

Posted by Nikita Agarwal 20 July 2023 10132 Views

If you have already filed your Income Tax Return (ITR) but made a payment after filing, there are steps you can take to rectify the situation

Trading Window Closure becomes mandatory for all listed entities

Posted by Affluence Advisory 19 July 2023 1831 Views

Stock Exchanges have vide its circular dt: June 28, 2023 extended applicability of Circular to all listed entities in a phased manner

AIS Dilemma: Exempt Incomes and Unreported Transactions in Income Tax Filing

Posted by Rashmi 19 July 2023 6193 Views

Relying solely on your Annual Information Statement (AIS) to file your income tax return (ITR) without verifying other sources of income can lead to trouble with tax authorities

Guidance on what to do if you paid more tax than you owe

Posted by Nikita Agarwal 19 July 2023 2280 Views

If you have already filed your Income Tax Return (ITR) but made a higher tax payment than the demand mentioned in the intimation, you may need to follow some steps to rectify the situation

Exemption Limit (Rs. 1500 or Rs.750) under GTA - Confusing?

Posted by Lekhraj sood 18 July 2023 70696 Views

The rate of tax under forward charge is at 12% with ITC available or 5% without the benefit of ITC. Under the reverse charge, the rate is 5%.

Exceptions to the rule - Income of P.Y. is taxable in A.Y.

Posted by Ritik Chopra 18 July 2023 81197 Views

In some cases, income is taxed in the same year in which it is earned and so in these exceptional cases a previous year will also function as an assessment year. Let us discuss those exceptions.