CAclubindia Articles

What is PAN and TAN?

Posted by Taxblock 26 October 2021 10380 Views

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.

Various Offences Under Income Tax And Penalty Applicable To It

Posted by Taxblock 26 October 2021 1890 Views

Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well.

Person liable for Obtaining GST registration

Posted by Ashok Pitroda 26 October 2021 6502 Views

Every supplier shall be liable to be registered under the GST Act in the State or UT, from where they make a supply of goods or services if their aggregate turnover in a FY exceeds the prescribed limits.

Exceptions to the provisions of Sec 44AD(4) & Sec 44AD(5) - Part VI

Posted by CA.R.S.KALRA 25 October 2021 23160 Views

There are certain cases in which the assessee fails to opt for the provisions of presumptive taxation because they are not eligible, due to an increase in turnover or receipt of any commission.

Let it go

Posted by CA Anurag Sharma 25 October 2021 2695 Views

We are just wasting our time and energy on forming opinions and fighting uselessly on issues that just don't matter to us. It clearly impacts our mental peace too.

Whether Penalty Or Fines Or Penal Interests Allowed As Expenditure Under Section 37(1) Of IT Act,1961

Posted by FCS Deepak Pratap Singh 25 October 2021 8573 Views

The objective of Section 37 is to claim business expenditure incurred by the assessee which is not covered under sections 30 to 36 as deductions. Thus, this section is as a general section for claiming deductions.

UDYAM - Whether A Boon or Bane for MSMEs

Posted by Vaibhav Singh 25 October 2021 34240 Views

Government should expand the definition of MSME to include traders, accept self-declaration and make registration mandatory over a 24-36 month period to make transitions smooth and seamless.

Works Contract And Implications For Roads Or Highways

Posted by FCS Deepak Pratap Singh 25 October 2021 6471 Views

GST on payment made through toll charges or annuity payment by NHAI to the concessioner are exempt from GST and the Input Tax paid by the private operators will be available to them as Input Tax Credit.

Whether All Incomes From Renting Of Properties Will Be Considered As Income From House Property

Posted by FCS Deepak Pratap Singh 25 October 2021 6132 Views

It is clear that any income from renting a property (which is a building and/or land attached to it) by the owner not utilized for its own business and profession will be considered as Income from House Property.

Kotyark IPO 21st October, 2021 - TC Share Market Bucket

Posted by CS Lalit Rajput 23 October 2021 4535 Views

The Company is primarily engaged in the manufacturing of BioFuel which is an alternative source of energy and has the ability to replace a good substitute of traditional fossil fuels.