CAclubindia Articles

Non-Filing of ITR and Non-Payment of Taxes May Lead to Prosecution u/s 276C

Vivek Jalan 21 November 2025 at 06:27

Non-filing of ITR or non-payment of taxes can trigger prosecution under Section 276C of the Income Tax Act for willful tax evasion. Penalties include rigorous imprisonment up to 7 years and fines, especially where evasion exceeds Rs 25 lakh.

Two PAN Cards Only But Fined Rs 60,000 and 7 Years Jail

Mitali 20 November 2025 at 17:44

Under Indian law, holding more than one PAN card is considered illegal and invalid. Earlier, the penalty under section 272B for possessing multiple PAN cards wa..

LLP Registration vs Private Limited Company: Which is Better for Your Business?

Kapil kumar 20 November 2025 at 06:42

Understand the key differences between LLP and Private Limited Company to choose the best business structure for your startup. Explore ownership, compliance, taxation, fundraising ability, flexibility and long-term suitability to make an informed decision tailored to your business goals.

IBBI Proposes Major Reforms to Enhance Transparency and Safeguards in CIRP: A Deep Dive

CA Jaydeep Babubhai Vadher 20 November 2025 at 06:42

Explore key proposals from the IBBI’s November 2025 Discussion Paper aimed at strengthening the Corporate Insolvency Resolution Process (CIRP).

Regulatory Overview: NRI/OCI Investments in Indian Partnerships under FEMA

Affluence Advisory 20 November 2025 at 06:42

A comprehensive guide to NRI and OCI investments in Indian partnership firms under FEMA. Learn key rules, eligibility, permitted modes of investment, prohibited sectors, reporting requirements, repatriation norms, and FAQs to ensure compliant foreign investment in India.

Recent Slowdown in ITR Processing: Tax Refunds on Hold

Poojitha Raam Vinay 19 November 2025 at 15:45

ITR refunds for FY 2024-25 are delayed as CBDT tightens verification, flags high-value claims, checks AIS/26AS mismatches, and upgrades systems. Learn why refunds are slower and what taxpayers can do to avoid delays.

No ITR If You Receive Up to Rs. 39500 Monthly as Pension Income

Mitali 19 November 2025 at 14:08

Understand when pensioners earning up to Rs 4.74 lakh need NOT file ITR under the New Tax Regime, key exceptions, and conditions that still mandate income tax filing.

Income Tax Notice for Rs 15 Lakh in Bank Locker: Know The Reason

Mitali 19 November 2025 at 12:19

Learn how Rs.15 lakh cash found in a bank locker led to an Income Tax notice and the importance of proper documentation to avoid tax addition.

Darr Ke Aage Jeet Hai: Courage Through The Lives Of A-Legends - Part IV

Raj Jaggi 19 November 2025 at 10:15

Discover inspiring stories where courage becomes a habit, not a moment, tracing the fearless journeys of Ajay Devgan, Alka Yagnik, Anuradha Paudwal and Ashutosh Rana.

Understanding the Different Types of Audits: Which One Is Right for Your Business?

CA Tushar Makkar 19 November 2025 at 09:20

Understand the different types of audits - financial, internal, tax, compliance, operational, IT and forensic and learn how to choose the right one for your business.