CAclubindia Articles

GST Implications on Diagnostic Services

CA Amit Harkhani 29 July 2025 at 14:09

Understand how GST applies to diagnostic services in India, with insights into exemption rules, key definitions, and clarifications from official GST notifications and circulars.

Zero Tax Using 87A Rebate with Stock Market Income

Mitali 29 July 2025 at 12:32

Know Section 87A tax rebate for FY 2024-25, including eligibility, income limits, tax-saving strategies and its impact on share market income for resident individuals.

New Code for Social Media Influencers in ITR-3: Is Content Creation Now a Profession?

Chaitra Seetharam 29 July 2025 at 12:09

The Income Tax Department has officially recognised "Content Creation" as a profession in ITR-3 for AY 2024–25 with Profession Code 6023. Social media influencers and creators must now report income under “Profits and Gains from Business or Profession,” comply with GST if applicable, and maintain proper records to claim deductions and ensure tax compliance.

The Cost of Not Filing Your ITR - A Real Story You Shouldn't Ignore

CA. Bhavik P. Chudasama 29 July 2025 at 11:00

Many salaried individuals mistakenly believe that TDS means no need to file an ITR. This real-life case of Mr. Chudasama shows how that assumption can lead to massive tax demands and legal trouble. Learn why filing your return is essential, even when tax is already deducted.

Key Legal Provisions Applicable to Charitable Trusts and Institutions

CA Jaydeep Babubhai Vadher 29 July 2025 at 08:28

Explore a comprehensive guide to the taxation and regulatory framework for charitable trusts and institutions under the Income-tax Act, 1961. Learn about registration, exemptions, compliance, anonymous donations, and investment rules applicable to NGOs and non-profits in India.

Unraveling Geopolitical Uncertainty: The Petrodollar, Monetary Policy and the Shifting Global Order

Affluence Advisory 29 July 2025 at 08:28

Explore the historical roots and strategic evolution of U.S. dollar dominance in global finance from Bretton Woods to petrodollars, trade wars and the rise of gold and crypto. Understand how America may be quietly orchestrating a stealth monetary reset amid shifting geopolitical and economic tides.

Decoding the Business Codes in ITR

CA Umesh Sharma 29 July 2025 at 08:28

Explore the significance of newly introduced business codes in ITR filings as explained by Krishna to Arjuna. Learn how these updates, including AI integration, aim to improve tax compliance and reflect emerging sectors like social media and trading.

Self Transfers and Contra Entries in ITR Now Mandatory If You Have Rs 50L in Savings

CA Ruby Bansal 28 July 2025 at 12:59

Reporting all self-bank transfers, UPI-wallet movements, and interbank transactions is now mandatory in ITR filings. If your total savings deposits exceed Rs 50 lakh, ITR filing is compulsory even with income below the taxable limit. Learn how to report contra entries and stay compliant.

Madras High Court Rules in Favor of Beneficial Nominee Under Section 39(7) of Insurance Act

FCS Deepak Pratap Singh 28 July 2025 at 08:36

Madras High Court clarifies that a validly appointed beneficial nominee under Section 39(7) of the Insurance Act is entitled to the full insurance proceeds. In this case, the Court upheld the wife's right as a beneficiary nominee, while allowing a voluntary 1/3rd share to the insured's mother.

CBDT Interest Waiver under Section 201(1A)(ii)/206C(7): Time-Bound Relief for TDS/TCS Defaults Due to Technical Glitches

CA Varun Gupta 28 July 2025 at 08:30

This article analyses the legal framework, compliance requirements, and strategic roadmap for deductors/collectors and tax professionals to utilise this waiver facility effectively.