CAclubindia Articles

Can you get Tax Deductions for Both HRA and Home Loan Interest Simultaneously?

Posted by Tarun Kumar Madaan 26 May 2023 9300 Views

House Rent Allowance (HRA) is an allowance employers provide to cover the expenses of rented housing for employees. The Income-tax Act allows for an exemption on HRA if an employee resides in a rented house. Additionally, the Act permits a deduction on the interest paid by an individual taxpayer on a home loan.

Section 60 Provisional Assessment under GST: A Comprehensive Guide

Posted by CA Harshit Goyal 26 May 2023 6735 Views

In this article, we will delve into the details of Section 60 and explore the procedures involved in the provisional assessment process.

What is GST? Understanding from the implementation phase

Posted by Taxblock 25 May 2023 2911 Views

GST is called as Goods and Service Tax which is an indirect tax and passed in the parliament on 29th March 2017 and came into force on 1st July 2017. This is an indirect tax which has replaced many indirect taxes such as VAT, excise duty etc.

GST Pre-Audit Advantages & Other Updates

Posted by CA Akshay Hiregange 25 May 2023 7704 Views

In this article we focus on certain advantages taxpayers can obtain through pre-departmental audits conducted by competent professionals.

Secretary Auditor penalty for omitting related party information

Posted by CS Divesh Goyal 25 May 2023 2894 Views

This is a classic example of a secretarial auditor being penalized by the Registrar of Companies for failing to report material-related party transactions in their secretarial audit report.

CBDT launches Tax Calculator for FY 2023-24

Posted by Rashmi 25 May 2023 4150 Views

The Central Board of Direct Taxes (CBDT) has introduced a new Income tax calculator for the financial year 2023-24. This calculator is designed to be user-friendly and helps individuals and businesses calculate their tax obligations more easily.

An Overview of Trusts

Posted by Mohd Zain 25 May 2023 4926 Views

A Trust is not a separate legal entity, therefore the tax law uses the concept of the representative assessee to tax the trust as given under section 160 of the Income Tax Act, 1961.

Registering as an Indian Subsidiary Company: Things you should know

Posted by Ishita Ramani 25 May 2023 2085 Views

An Indian subsidiary refers to a company that is owned or controlled by another company. It is a business entity where the majority or partial ownership lies with a holding company.

Penalty for non-compliance with companies main objective

Posted by CS Divesh Goyal 24 May 2023 5900 Views

As stated in Section 4 of the 2013 Companies Act when combined with Section 10. The Act's provisions under section 4(1)(c) state, among other things, that the company's memorandum must list the object for which it is intended to be formed as well as any other information deemed relevant to those purposes.

Demystifying GST Audits: A Comprehensive Guide to Section 65 & Rule 101 - Essential Insights for Businesses

Posted by CA Harshit Goyal 24 May 2023 5904 Views

In this article, we will delve into the intricacies of these provisions, shedding light on the audit process from both the taxpayer's and the tax authorities' perspectives.