CAclubindia Articles

Mistakes I made during my CA Preparation

Posted by Akanksha Raut 17 January 2022 4245 Views

Some people learn through others' mistakes and some commit their own. Here I am sharing my mistakes so that you can learn from them.

Some facts related to section 54F of IT act, 1961

Posted by FCS Deepak Pratap Singh 17 January 2022 7646 Views

The assessee purchased land from the sale proceeds of property held by him and constructed a nursing home and residential house thereon. On the residential house, he claimed exemption under section 54F of the Income-tax Act, 1961.

Valuation of free of cost supplies under GST

Posted by FCS Deepak Pratap Singh 16 January 2022 7929 Views

We know that the value of a taxable supply is the taxable base on which the rate is applied. It is important to understand and calculate the value of supply for ascertaining GST liability. GST will be applicable in the value of the goods and services supplied.

Courts cannot relax terms and conditions of insurance policy

Posted by FCS Deepak Pratap Singh 16 January 2022 1532 Views

Of the case are that complainant, M/s.Dharmanandan Dismonds Pvt. Ltd. has given diamonds to one commission agent Mr. Arjanbhai Mangukia to show the diamonds to the prospective buyers by issuing "Janghad slip" on 10.06.2002.

SC: An insurer cannot repudiate a claim by citing an existing medical condition

Posted by FCS Deepak Pratap Singh 15 January 2022 6015 Views

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!!

Posted by CS Lalit Rajput 15 January 2022 11735 Views

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?

Posted by FCS Deepak Pratap Singh 15 January 2022 4466 Views

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

Posted by Amit Kumar 14 January 2022 4012 Views

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?

Posted by Aarti Maurya 14 January 2022 6540 Views

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.