CAclubindia Articles
New LRS Regulations Cause Concern for Wealthy Indians Parking Funds Abroad
The Liberalised Remittance Scheme (LRS) regulation in India has been revised, making it difficult for wealthy Indians to accumulate wealth in offshore bank accounts. Under the new rule, if an individual has legitimate money outside India in the form of foreign exchange, they must either invest it or use it within 180 days of realisation.
Section 27 Of CGST Act 2017: Special Provisions Relating To Casual Taxable Person And Non-Resident Taxable Person
Section 27 of the CGST ACT 2017 talks about special provision relating to grant of GST Registration to Casual Taxable Person and Non-Resident Taxable Person, also covering the provisions which the casual taxable person and non-resident taxable person has to follow.
Void Insurance Policies And Refund Of Premium Paid
As you are aware that a Contract ,which has no legal validity is a void contract. Same in the case of an Insurance Policy, when an insurer discovers that the In...
SC Limits Tax Authorities' Power to Reopen Completed Assessments Without Incriminating Material
The Supreme Court has ruled that the income tax (I-T) department cannot reopen completed assessments under Section 153A of the I-T Act, unless "incriminating material" is found during search and seizure operations.
Everything about Audit Trail
In this article, the author shall discuss everything about the Audit Trail.
Understanding Intellectual Property Rights: An Overview
Intellectual Property Rights (IPR) are a set of legal rights given to individuals or entities who create or innovate in the fields of arts, literature, inventions, trademarks, and designs.
All You Need To Know About Financial Engineering
Financial engineering is an interdisciplinary branch of the investment industry that makes use of applied mathematics, statistics, computer science, financial theory, and economics to conduct quantitative analysis on the financial markets.
Section 56(2)(X): Taxation of Gift
Gift received by any person or persons is taxed in the hands of the recipient under the head Income from other sources and at normal tax rates under Section 56(2)(x) of the Income-tax Act, 1961.
What is PAN and TAN?
PAN is a single number that is an electronic system and has all the tax related information of a taxpayer. TAN is a 10 digit alpha numeric number allotted to persons who are responsible for TCS and TDS.
Mandatory Certificate from Income Tax Portal for Section 80G Tax Deduction
When you donate money to a charity or NGO, you can get a tax deduction under Section 80G of the Income-tax Act, 1961. This means that you can reduce the amount of tax you have to pay based on the amount you donated.
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