CAclubindia Articles

New Inventory Valuation guidelines under Income Tax

Posted by Vivek Jalan 14 October 2023 18199 Views

The Finance Act 2023 has taken a major step forward by introducing the concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of the Income Tax Act.

11 Accounting Advantages - Let's Crack the Code

Posted by Rohit Patel 14 October 2023 3893 Views

Let's look on a journey through 11 key advantages of accounting, by real-life examples to understand their significance.

A Step Towards Simplicity: Unregistered Suppliers Enrolling for E-commerce Supply

Posted by CA Aman Rajput 13 October 2023 5615 Views

In a recent development by the GSTN, a significant advisory was issued on October 12, 2023. This advisory pertains to unregistered suppliers and their need to obtain an enrolment number on the GST Portal, validated through their PAN, before conducting any supply through an ECO.

What is GST Annual Return or GST Audit?

Posted by Ashok Pitroda 13 October 2023 13996 Views

As per Rule 80 of the CGST Rules, 2017, every registered person liable to file annual return for every financial year is required to file the same on or before the 31st of December of the next financial year.

MVAT Audit Report in Form e-704

Posted by Ishita Ramani 13 October 2023 4275 Views

In this article, we'll go into detail about the new VAT Audit Form 704, including its deadline, important clauses, and the significance of the audit report under MVAT.

ITR requirement for loan purpose

Posted by Sparsh Wadhwa 13 October 2023 8259 Views

Income Tax Return (ITR) is an important document that reflects an individual's income, taxes paid, and other financial information. Many banks and financial institutions require ITR documents to process and approve loans.

Section 192: TDS on Salary

Posted by Mitali 12 October 2023 7191 Views

In accordance with Section 192 of the Income Tax Act, 1961, employers are required to deduct TDS (Tax Deducted at Source) from the salary income of employees.

TDS on Rent u/s 194I, 194IB and 194IC

Posted by Mitali 12 October 2023 5960 Views

TDS (Tax Deducted at Source) on rent refers to the deduction of a certain percentage of tax by the tenant before making a rental payment to the landlord. The tenant deducts TDS and deposits it with the government. This ensures that the government receives tax revenue on rental income and prevents tax evasion.

Changes and Compliances in GSTR 9 & 9C for FY 2022-23

Posted by CA Akshay Hiregange 12 October 2023 25458 Views

The department has started issuing notices and requesting for information by comparing data disclosed in GSTR 9/9C Vs GSTR 3B.

RBI with powers allocated under section 35A

Posted by Jatin Pal 12 October 2023 3250 Views

Section 35A of Banking Regulation Act, 1949 gives power to RBI to give directions to Banking Companies or Banking Company, as the case may be. The Banking compa...