CAclubindia Articles

Problems and Answers - Section 115QA & 115F of the Income Tax Act 1961

Posted by FCS Deepak Pratap Singh 07 October 2021 2639 Views

Section 115QA provides that a domestic company distributing its income through buy back of shares will have to pay income tax/distribution tax @20% (surcharge @12% and education chess @4%).

Inside the Hollow World of Self-Help

Posted by Abhishek Panegal 07 October 2021 1626 Views

A lot of you would be watching these so-called motivational videos and probably feel a lot pump when you watch them. But how long does that last? Ever given a thought? 1 hour or maybe a little more.

Open Letter To NFRA Chairman Opposing Consultation Paper On Abolishing Statutory Audit

Posted by CA Rohit kapoor 07 October 2021 9257 Views

If Statutory Audit is exempted then there will be no check on business transactions and such exemption will lead to an emergence of spurious companies within MSMCs.

Unexplained cash credits under provisions of Income Tax Act 1961

Posted by FCS Deepak Pratap Singh 07 October 2021 7170 Views

Section 68 is a charging section, thus, if it is applicable, the assessee will not only be liable to pay the taxes but also penalty under section 271(1) (c) of the Income Tax Act, 1961.

IND AS 12: Income Taxes

Posted by Jerold Ferreira 07 October 2021 14808 Views

Income taxes as per the Indian Accounting Standard 12 include both domestic and foreign taxes, which are based on taxable profits. It also includes withholding taxes.

GST Services exempted w.e.f October 1, 2021

Posted by Bimal Jain 07 October 2021 45973 Views

CBIC has further amended Notification No. 12/2017-Central Tax (Rate) dated June 28, 2017 ("Services exemption notification"), in order to adhere to the recommendations of the 45th GST Council Meeting.

How to Utilise Study Leaves while preparing for CA Exams?

Posted by Poojitha Raam Vinay

07 October 2021 4581 Views

A minimum of 8 hour study should be practised considering the volume of portions to be covered. Set a realistic goal every day. Setting unrealistic goals will put down your confidence.