CAclubindia Articles
SC: An insurer cannot repudiate a claim by citing an existing medical condition
The facts, in a nutshell, are that the appellant had sought an overseas mediclaim policy (hereinafter referred to as "medical policy") as he intended to travel to the United States of America ("USA") to attend the wedding of his sister-in-law's daughter.
ITR Missed?? File your ITR Now!!
The Central Board of Direct Taxes (CBDT) has given one-time relaxation for the verification of e-filed ITRs, which are pending e-verification. The decision was taken amid complaints of glitches in the e-filing portal of the income tax department.
Whether benefits of Section 23(2) available to HUF?
From decision of Gujarat High Court, it is clear that a HUF is a group of natural persons, who are related to each other with blood relations. A HUF consisting of natural persons cannot be considered as a fictional entity and can be considered as owner of a house property and enjoy benefits of the provisions of Section 23(2) of the Income Tax Act, 1961.
Income Tax Return: A Quick Overview
The process of Income Tax return filing is very simple, but very essential if you are earning any form of income that needs to be taxed. Income tax through TDS (tax deduction at source) can be done, but it is not mandatory if you are employed by someone else.
What if you dont have to pay taxes in India?
No doubt India has one of most complicated income tax system. Being a CA student it will definitely reduce your syllabus of taxation which is hard nut to crack for many students.
Applicability of provisions of Section 35AD of Income Tax Act, 1961
Section 35AD provides for investment-linked tax incentive for Specified Business
Scope of Order for Rectification u/s 154 of the Income Tax Act
This section is a neutral provision, neither revenue friendly unlike section 263 nor assessee friendly unlike section 264 of the Act. But it has limited application, since it is bound by the wording of "Mistake apparent from records"
Why should you be cautious in a bull market?
The stock market helps to value the securities on the basis of demand and supply factors. The securities of profitable and growth-oriented companies are valued higher as there is more demand for such securities. The valuation of securities is useful for investors, government and creditors.
Revalidation of Registration u/s 12A and 80G
There are certain tax exemptions and benefits available to Charitable Institutions in India. These exemptions and benefits are dealt in sections 12A/12AA and 80G of the Income Tax Act,1961.
How to prepare for exams - Upraising your preparation strategy
One of the most effective and trusted techniques is WWH which we will be discussing in the following paragraphs. Read ahead to understand that and upraise your preparations for upcoming exams.
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