CAclubindia Articles

Reverse Charge Mechanism and Accounting Entries for RCM in GST

Posted by sushil 07 June 2023 453272 Views

The article cover list of GOODS and SERVICES, Time of Supply under RCM and also RCM Accounting Entries

GST Registration for OIDAR Services

Posted by Ishita Ramani 07 June 2023 4050 Views

The term OIDAR services, which stands for Online Information and Database Access or Retrieval services, pertains to services provided through the internet or electronic networks with minimal human involvement.

A Comprehensive Guide to Claiming HRA Tax Exemption: Essential Aspects of Your Rent Agreement

Posted by Rashmi 07 June 2023 4713 Views

Salaried individuals can avail tax exemption on house rent allowance (HRA) if they live in a rented house, pay rent, and possess the necessary valid documents. However, many people are unaware that their rent agreements should include specific clauses to ensure that their HRA tax exemption, claimed during income tax return (ITR) filing, is not rejected by the income tax department.

Audit of educational Institutions

Posted by Member (Account Deleted) 06 June 2023 392241 Views

Audit of books of educational institutions i.e. Schools, Colleges, Universities etc is known as audit of educational institutions. This type of audit comes under the category of special audit.Generally, the procedures for auditing is same like other

Internal Financial Controls (IFC)

Posted by CA Diwakar Jha 06 June 2023 250965 Views

As per Section 134 of the Companies Act, 2013 (the Act), the term 'Internal Financial Controls' means the policies and procedures adopted by the company

Understanding the concept of Body Corporate

Posted by Ekta Ahlawat 06 June 2023 166681 Views

A Body Corporate includes all companies including companies incorporated outside India as well as incorporated in India, except for a Co-operative Society.

SEBI's Informal Guidance: Applicability of BRSR

Posted by Antika Mukherjee 06 June 2023 2518 Views

The Company sought an interpretative letter from the SEBI under the SEBI (LODR) Regulations, with a view to seek clarification for the doubts regarding the applicability of Business Responsibility and Sustainability Reporting ("BRSR").

Incomes which are now reported in AIS for Individuals

Posted by CA Umesh Sharma 05 June 2023 10040 Views

The Income Tax Department has announced the roll-out of a statement namely Annual Information Statement (AIS) which would provide you with almost all details about your financial transactions during the year.

Conversion of Limited Liability Company (LLC) to S Corporation

Posted by Ishita Ramani 05 June 2023 2200 Views

A Limited Liability Company (LLC) is a business structure where the owners are called members. It combines the characteristics of a sole proprietorship, partnership, and corporation.

Can Taxing Agricultural Income Benefit Farmers in India?

Posted by CA Pallav Singhania 05 June 2023 4322 Views

Introducing a slab-based taxation system for agricultural income could be a feasible approach. By doing so, the burden of taxation can be adjusted according to the income levels of the farmers.