CAclubindia Articles
Comparative study of Mortgage, Hypothecation & Pledge
When it comes to borrowing money, lenders often require borrowers to provide some form of security or collateral to mitigate their risk.
Gold in any form fails to pass the test of second-hand goods - Kerala AAR
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
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
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
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
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
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
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?
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.
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.
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