CAclubindia Articles

Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on TDS/TCS provisions (Cumbersome, Rates & Overlap)

Vivek Jalan 22 November 2024 at 08:38

The income tax department has received 6,500 suggestions from stakeholders over the past month on review of the Income Tax Act.

Motor Insurance Frauds: Detection and Control

FCS Deepak Pratap Singh 22 November 2024 at 08:38

As you are aware, insurance companies are considered custodians of the money of their policyholders. A policyholder pays a premium to the insurance company with the hope that, in case of financial loss, the insurance company will indemnify him/her.

Navigating Tax Turbulence: The Story Behind Parle Agro's FY24 Performance

Mitali 21 November 2024 at 12:52

Parle Agro is a leading Indian beverage company which has marked that there was a significant decline in revenue and profit for the financial year 2023-24. The ..

RCM on Rent for Family-Owned Properties: Impact of Notification No. 09/2024

Joseph Amal T A 21 November 2024 at 08:45

Impact of Notification No. 09/2024 on RCM for Rent Paid to Unregistered Persons: A Discussion on Family-Owned Commercial Properties

Landmark Ruling by Allahabad High Court: Goods Under GST Cannot Be Seized for Route Deviation

CA Naveen Panwar 21 November 2024 at 08:38

In a significant judgment, the Allahabad High Court, in the case of Exide Industries Ltd. v. Addl. Commissioner Grade-II (Appeal)-1, delivered on July 9, 2024, ruled that goods transported under the GST regime cannot be seized or penalized solely due to a vehicle deviating from its expected route.

Clarification on Non-Generation of GSTR-2B for October 2024

CA Naveen Panwar 20 November 2024 at 13:56

Recently, some taxpayers reported issues with the generation of GSTR-2B for the October 2024 tax period, citing its absence from the GST portal on November 14, 2024.

Choosing the Best Tax Regime for an Annual Income of Rs 10 Lakh: New vs Old

CA Naveen Panwar 20 November 2024 at 08:40

As an individual with an annual income of ₹10 lakh, one of the key decisions you need to make when filing your taxes is choosing between the old tax regime and the new tax regime.

Resolving Gaps Between GSTR-2B and GSTR-3B Data

Mitali 19 November 2024 at 15:19

If you have observed that there are discrepancies between GSTR-2B and GSTR-3B or GSTR-2B is not generated, then you can look for these steps to re-compute it

Artificial Intelligence In Human Resources

Affluence Advisory 19 November 2024 at 08:38

Human Resources (HR) is one of the most crucial departments in any organization, responsible for managing the most important asset: the people.

Understanding the New IMS (Invoice Management System) on GST Portal

CA Umesh Sharma 19 November 2024 at 08:38

IMS allows recipient taxpayers to take various actions like accept, reject, or keep invoices pending based on the records uploaded by their suppliers in GSTR-1 or IFF. This gives recipients control over their Input Tax Credit (ITC) eligibility before filing GSTR-3B.