CAclubindia Articles

Investing abroad through mutual funds

Posted by Ritik Chopra 30 September 2021 5274 Views

Many of you might not know that you can actually invest in abroad companies through mutual funds. Funds of Funds, Feeder Fund, and Actively Managed Funds are the different channels to invest.

Some Facts Related To Fugitive Economic Offenders Act, 2018

Posted by FCS Deepak Pratap Singh 30 September 2021 1627 Views

"Fugitive Economic Offender" means any individual against whom a warrant for arrest in relation to a Scheduled Offence has been issued by any court in India.

Transfer of Immovable Properties on Sale Consideration less than Stamp Duty Valuation

Posted by FCS Deepak Pratap Singh 30 September 2021 3740 Views

Where the consideration for transfer of the asset is less than the stamp duty value, the value so adopted shall be deemed to be the full value of the consideration, for computing income under PGBP.

Vlogging New Industries and Tax Applicability on Vlogging

Posted by Taxblock 30 September 2021 2645 Views

If you are pursuing YouTube as your full time profession, you will be taxed under Income from Business or Profession. If it’s a part time earning, the income will be taxable under Income from Other Sources.

Understanding Loans, Types of Loans For Individuals & Businesses and Tax Benefits around Them

Posted by Taxblock 30 September 2021 2943 Views

Business loan interest is eligible for exemption, however, the principal amount of the loan is not provided with any tax benefit. The interest is usually deducted from gross income.

Sukanya Samriddhi Yojana Scheme and its Tax Benefits

Posted by Taxblock 30 September 2021 3521 Views

Investments made under Sukanya Samriddhi Yojana Scheme are eligible for deduction under Section 80C. The interest accrued on the investment is also eligible for tax exemption.

What to Expect from a Limited Review?

Posted by CMA Mrudula M 29 September 2021 38473 Views

In a limited review, the interim financial information is analytically reviewed and inquiry procedures are conducted to identify whether the interim financial information is free from material misstatement.

Side Effects of poor functioning of New Income Tax Portal

Posted by CA Umesh Sharma 29 September 2021 12109 Views

Due to technical glitches on the new Income Tax portal, taxpayers have failed to file Income Tax Return, Audit Report and there is a delay in submission of Financials in the bank for loan purposes.

22000+ Compliance Reduced by Ministry

Posted by CS Lalit Rajput 29 September 2021 3264 Views

With the intent to ensure "Minimum Government, Maximum Governance" the Government of India embarked on an ambitious journey to reduce burdensome compliances.

Other Compressive Income in IND AS

Posted by Aniruddha Deshpande 29 September 2021 4654 Views

To provide exact profitability and bring more transparency to the financial statements of a company, the concept of Other Comprehensive Income was introduced in IND AS.