CAclubindia Articles

New Eligibility Norms for UCB Inclusion in RBI's Second Schedule

CA Divyajeet Singh Sabharwal 19 January 2024 at 08:51

This article delves into the revised eligibility norms, their implications for UCBs, and the potential impact on the cooperative banking sector in India.

GST Assessment: Types and Their Significance

Ashok Pitroda 18 January 2024 at 16:53

Every registered person has to file return to the GST department. Once the person files the return, the next step is processing the return by the GST department.

Non-filing of ITR can lead to prosecution

Vivek Jalan 18 January 2024 at 14:05

Taxpayers are now witnessing a new era where economic offenses are no more taken with an attitude of "Letting things be". Tax Professionals should also change accordingly and ensure that tax compliances are in order.

Environmental, Social and Governance (ESG) - Need for an organization to attract various stakeholders

Shailesh Prajapati 18 January 2024 at 14:01

ESG approach provides a comprehensive and integrated approach on sustainability which emphasize not only Environmental impact but also Social and Governance in an organization.

Condonation of Delay in Filing ITR

CA.Sangam Aggarwal 18 January 2024 at 08:53

As we know that every assessee or taxpayer has to file their Income Tax Return within time prescribed i.e. 31st July/31st October under section 139(1)/139(4) of Income Tax Act, 1961.

Claiming Exemption Under Section 54F: When Religious Use turns Residential Intent

CA Aman Rajput 18 January 2024 at 08:53

This article delves into a specific case where the assessee's claim for exemption under Section 54F was denied due to the predominant use of the building for religious purposes, namely a mosque, orphanage school, and staff quarters.

Should employees suffer incase the employer defaults in payment of TDS?

Vivek Jalan 18 January 2024 at 08:53

On 15.07.2014, Karnataka High Court in ITA 165/2012 directed the revenue authorities to recover TDS amounting to Rs.302 crores from the Kingfisher airlines. On 18.11.2016, the Kingfisher Airlines Limited was ordered to be wound up by the Karnataka High Court.

Jyoti CNC Automation Ltd: IPO Analysis

CA Divyajeet Singh Sabharwal 18 January 2024 at 08:53

Jyoti CNC Automation Ltd., a name synonymous with precision engineering and industrial automation, roared onto the Indian stock market on January 9, 2024.

Supremacy Sealed: Unveiling the Impact of Innoventive Industries vs. ICICI Bank on India's Bankruptcy Landscape

CS Peer mehboob 17 January 2024 at 14:12

In the intricate world of Indian business, distressed companies often stand at a crossroads, desperately seeking pathways to restructure and rise again. But what happens when conflicting legal paths emerge, throwing both companies and creditors into a labyrinth of uncertainty?

Section 43B(h) of Income Tax Act related to MSME (Small & Micro) - Very Important Amendment

CA.Sangam Aggarwal 17 January 2024 at 08:57

As per the Amendment made by the Finance Act, 2023 clause (h) shall be inserted after clause (g) of section 43B which says that if assessee makes payment to micro or small enterprises beyond the limit specified in section 15 of the MSME Act, 2006