CAclubindia Articles

Comparative study of Section 44AD, ADA and 44AE

CA.R.S.KALRA 20 October 2021 at 09:55

Section 44AD is applicable to any business except those eligible for Section 44AE. Section 44ADA is applicable to all professions referred in Section 44AA. Section 44AE is applicable to businesses engaged in plying, hiring or leasing goods carriages.

Section 8 Company: Incorporation & Myths

ARISANKALA MANISH KUMAR 20 October 2021 at 09:54

Section 8 companies obtain their incorporation certificate from the Central Government and are liable to carry on according to rules stated by the government.

Meaning of Officer and Officer in Default

FCS Deepak Pratap Singh 20 October 2021 at 09:54

Officers such as whole-time directors, KMP, directors, etc. shall be liable to any penalty or punishment in case of default committed by the company under the Companies Act, 2013.

Risks of leaving your bank account dormant

CA Mahesh Bansal 20 October 2021 at 09:54

In a latest development, Delhi Police Cyber Crime Cell has arrested 12 persons including 3 HDFC Bank employees for fraudulently attempting to siphon money out of a dormant account belonging to an NRI.

Whether A Karta Will Be Taxable In Dual Capacity After Separation From HUF

FCS Deepak Pratap Singh 20 October 2021 at 09:54

Discussing an interesting situation and taxability of an individual after his separation from HUF i.e. Whether a person will be taxable under dual capacity as an ‘Individual’ as well as 'Karta' after separation from HUF?

Income from Capital Gains

Taxblock 20 October 2021 at 09:54

Any profit which is earned by transferring a capital asset will be known as capital gains, and it will be taxable under the head Income from Capital Gains if the transfer was made in the previous year.

Deductions under Income Tax

Taxblock 20 October 2021 at 09:54

Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from their gross income to figure out how much tax is owed.

Is Cryptocurrency Really the Future?

Sazal Sharma 19 October 2021 at 15:18

People like Bill Gates, Al Gore, and Richard Branson believe that this is where the future rests, while scholars like Warren Buffet, Paul Krugman, and Richard Schiller see it as a Ponzi scheme.

Income from Salary | An analysis

Taxblock 19 October 2021 at 09:48

Income from salary is the remuneration that is received by an individual who is rendering services under any contract which is taken by him. The contract should be under employment.

Taxation of Mutual Fund SIP

CA Umesh Sharma 19 October 2021 at 09:48

An investor can claim deduction up to Rs. 1,50,000/- u/s 80C for investments made in SIP. However, deduction is available only if the SIP is of an Equity Linked Savings Scheme Mutual Fund.