CAclubindia Articles

Can Share Valuation under DCF Method be Rejected and Recalculated by the Assessing Officer?

Vivek Jalan 09 April 2024 at 08:46

Any businessman or entrepreneur, visualises the business based on certain future projection and undertakes all kind of risks. It is the risk factor alone which gives a higher return to a businessman and the income tax department or revenue official cannot guide a businessman in which manner risk has to be undertaken.

Unlocking Convenience: The 'AIS for Taxpayer' App

CA Pallav Singhania 09 April 2024 at 08:41

The Indian Government has recently unveiled a mobile app for taxpayers - the 'AIS for Taxpayer'. Developed by the Income Tax Department, this innovative application serves as a comprehensive tool empowering individuals with seamless access to their tax-related information and facilitating informed financial decision-making.

Understanding Income Tax Returns for OCI Card Holders: A Comprehensive Guide

CA Arun Tiwari 09 April 2024 at 08:38

Today, we're delving into the world of taxation for OCI (Overseas Citizen of India) card holders - individuals who have relinquished their Indian passports to become foreign citizens while still retaining financial interests in India. By the end of this article, we'll explore when and why OCI card holders should file income tax returns in India.

PAN-Aadhaar Linking for TDS deduction

Khush Trivedi 08 April 2024 at 12:32

We all know due date has arrived for deposition of Tax deducted at source for the month of March i.e. 30th April 2024. It is important to understand the consequences for deduction of TDS of deductee whose Pan Aadhaar is not linked.

Steady Your Inning in the Middle Overs (30-60 years)

CA Umesh Sharma 08 April 2024 at 12:26

It is said that Middle Overs are the most crucial overs in any game. How do you think the individuals shall steady their innings in the Middle Overs(30-60 years)?

70 GST Checkpoints for Financial Year End - March 2024

CA Akshay Hiregange 08 April 2024 at 11:59

In this article, we have highlighted 70 GST checkpoints that one may consider for the financial year end, i.e. March 2024 as a safeguard.

Key Precautions for Reviewing Income Tax Intimation under Section 143(1)

CA Pallav Singhania 08 April 2024 at 08:45

ere, we highlight key precautions to ensure a thorough review of such intimations, safeguarding taxpayers from potential errors or discrepancies.

A Deep Understanding of GST Department's Guidelines on Summons

Abhishek Raja 06 April 2024 at 15:56

The Indian GST Department has issued new guidelines Instruction No. 01-2023-24 dated 30-Mar-2024, to CGST field formations on maintaining ease of doing business while engaging in investigations with regular taxpayers.

Intimation u/s 143(1) of the IT Act

Mitali 06 April 2024 at 15:44

Intimation under Section 143(1) is a notification which is sent from the IT Department after processing a taxpayer's income tax return. Usually, it informs the taxpayer about any discrepancies between their filed return and the department's computation.

Cash Transaction Limits under Income Tax Act

CA Shruti Singhal 06 April 2024 at 15:09

The tax audit season is about to begin. This article aims to refresh the existing limits of cash transactions. The Income Tax Act in India discourages cash transactions to promote transparency and curb tax evasion.