CAclubindia Articles

Letter of Undertaking (LUT) and its benefits under GST

CA.Sangam Aggarwal 24 January 2024 at 08:46

LUT application is required to be completed before 31st March of starting of the financial year or before supply for Exports and SEZ for example for FY 2024-25 need to file before 31st March, 2024.

Decoding Section 143(2): Why Issuance of Notice is Crucial for Valid Assessments

Vivek Jalan 24 January 2024 at 08:46

Issuance of notice u/s 143(2) is mandatory and non-compliance of the same will result in nullifying the assessment orders

What is PF Return Annual Filing?

Ishita Ramani 24 January 2024 at 08:46

Employees (future fund members) can be assured that the assets of the fund will not be affected by any liabilities of the employer or the investment management company in case of financial insolvency. We will discuss all about filing annual PF return.

TDS On Sale Of Property For NRI

CA Ruby Bansal 23 January 2024 at 17:35

While selling a property, the buyer is required to deduct a certain percentage of the sale amount as TDS. TDS on property sale is a mechanism to ensure that taxes are deducted at the time of property transactions.

Anticipated Changes in Indian Interim Budget 2024: Taxpayer Expectations

CA Aman Rajput 23 January 2024 at 08:50

As Lok Sabha elections are due in India in early 2024, the government shall be announcing an interim budget instead of a full-fledged budget, which shall function as a transitional financial plan for the remaining months of government in power.

Deductibility of Interest on Loan Taken for Family Settlement against Capital Gains from Gifted Property

CA Divyajeet Singh Sabharwal 23 January 2024 at 08:50

This article delves into the intricacies of the case, analyzes the relevant legal provisions, and offers a critical perspective on the deductibility of such interest claims.

Section 43B(H) Impact on Outstanding MSME Creditors from FY 23-24 Onwards

CA Sohrabh Jindal 23 January 2024 at 08:50

Deduction and Disallowance in Income Tax on Outstanding creditors registered under MSME from FY 23-24 onwards- Section 43B(h) of Income Tax Act

Business Responsibility & Sustainability Reporting (BRSR) - Should Companies implement it even though it is not mandatory!

Shailesh Prajapati 22 January 2024 at 17:18

The format is further updated by SEBI in July 2023. Sustainable Reporting Standard Board of ICAI developed the scoring mechanism of BRSR by assigning scores to BRSR.

Mutual Fund Transactions Treated as Investments, Not Business Activities

CA Kunal Jain 22 January 2024 at 13:26

The appeal in question pertains to the Assessment Year (AY) 2006-07, involving a second round of litigation after the Income Tax Appellate Tribunal (the Tribunal) passed an order dated 16.10.2018.

Guide to Electronic Credit Reversal and Re-claimed Statement (ECRRS)

CA Akshay Hiregange 22 January 2024 at 12:13

The Government has notified certain changes in Table 4 of Form GSTR-3B to enable taxpayers to report correct information regarding ITC availed, ITC reversal, ITC re-claimed, and ineligible ITC through Notification No. 14/2022 - CT. Circular 170/2022-CGST also was issued to clarify disclosure practices that can be followed.