CAclubindia Articles

Tax Treatment on Conversion of Self Occupied Property into Joint Family Stock

Posted by FCS Deepak Pratap Singh 11 October 2021 2254 Views

It should be kept in mind that while transferring a self-occupied property in the common stock of a Joint Family, you should be a coparcener of the Joint family.

Whether Commissioner has Power to Revise Matters Before CIT (Appeals ) - Section 263 & 264

Posted by FCS Deepak Pratap Singh 11 October 2021 1408 Views

The tax authority can send an order under Section 154 either of their own volition or based on an incongruity noticed by the Income Tax Department.

Whether AO disallowed increase in remuneration within terms of Partnership Deed

Posted by FCS Deepak Pratap Singh 11 October 2021 1572 Views

As per section 40(b)(v) any payment that exceeds the amount of remuneration to any partner who is a working partner and in accordance with the terms of the partnership deed, will be disallowed.

Every life is important

Posted by CA Anurag Sharma 11 October 2021 1863 Views

We often call the person committing suicide a coward, but how many of us actually listen to the plight of an individual suffering through something this drastic?

Applicability Of The Provisions Of Companies Act, 2013

Posted by Neha Rajan Redekar 10 October 2021 26273 Views

Provisions of Companies Act are applicable on the basis of paid-up capital, turnover, type of company, net profit or on the basis of outstanding loan and borrowings of the company.

Key changes in ITR Forms for AY 2021-22 - Part 3: ITR 4 Sugam and ITR 5

Posted by Neethi V. Kannanth 09 October 2021 5937 Views

Schedule DI is removed from ITR 4. Option of Filing ITR in response to notice u/s 153A and 153C is also removed as a requirement to file ITR under these sections is omitted.

GST on Sale of Land

Posted by Deepak Bapat 09 October 2021 31111 Views

GST on the sale of land is not payable as per Para 5 of Schedule III of the CGST Act which provides that a transaction of sale of land shall be treated neither as a supply of goods nor a supply of services.

Interplay of Section 43CA vs. Section 44AD - Part II

Posted by CA.R.S.KALRA 09 October 2021 10214 Views

Section 44AD and 43CA of the Act are deeming sections. A legal fiction is created only for a definite purpose and is limited to that purpose and should not be extended beyond it.

No auto cancellation of Registration of Recipient for fraud by the Supplier - Orissa High Court

Posted by Lekhraj sood 09 October 2021 4444 Views

Section 16 of the OGST Act with Rule 21 of the OGST Rules provides that there is no provision that enables the cancellation of the registration of the purchaser for fraud committed by the seller.

Comments on NFRAs Consultation Paper On Statutory Audit And Auditing Standards for MSMCs

Posted by Kotte Murali Krishna 09 October 2021 2052 Views

In case, NFRA takes any drastic decision to exempt the need for statutory audit of MSME companies for any reason, the size of frauds would go up and the Indian economy will be in the doldrums.