CAclubindia Articles
Share Capital and its Accounting Entries
Share capital refers to the total value of shares issued by a company and held by its shareholders. It represents the initial or subsequent investment made by individuals, institutions, or other companies in exchange for ownership in the business.
Adjudication Penalty For Adani Power For Non-Compliance Related Party Transaction
Every company registered under this statute or any other as prescribed is required to disclose related party transactions, under Sections 188 and 189 of the Company Act 2013.
Schedule III of CGST Act 2017: Related to Employee Services
Under this Article, I am going to describe the activities/transactions, which although are falling within the scope of Supply
Can you get Tax Deductions for Both HRA and Home Loan Interest Simultaneously?
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
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
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.
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.
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