CAclubindia Articles
What is GST? Understanding from the implementation phase
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
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
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
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.
Registering as an Indian Subsidiary Company: Things you should know
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.
An Overview of Trusts
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.
Penalty for non-compliance with companies main objective
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
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.
Comprehensive Guide to Gold Purchases, Possession Limits and Taxation in India
Considering the cash transaction limits under income tax laws, transactions in cash above Rs 2 lakh in a single day are not permitted. Section 269ST of the Income Tax Act, 1961, prohibits cash transactions exceeding Rs 2 lakh in a single day or in aggregate from a person.
How to prepare Employees Data and Inputs for Actuarial Valuations in compliance of IndAS 19 & AS 15R for Employee Benefit Plans
This article is prepared to help the company officials (I.E. HR, Accountant, Finance Managers, & Company Secretary) involved in preparation of Actuarial Inputs for Actuarial Valuations in compliance of AS 15 (Revised 2005) & IndAS 19 to understands various technical points while preparing the Inputs.
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