CAclubindia Articles

Income Tax For Senior Citizens FY 2023-24

Priya Mulukutla 07 March 2024 at 11:14

There are several benefits in the Income Tax Act available for senior and super senior citizens to claim to reduce their tax burden.

Section 43B(h): Disallowance and Precautions to be taken while making payment to MSMEs before 31st March 2024

CA Bhawna Dua 07 March 2024 at 08:44

A new clause inserted by the Finance Act of 2023 allows deductions made to MSMEs on an actual payment basis instead of an accrual basis if the payment is made within the threshold limit.

NRO Account Taxation in India: Understanding the Rules and Maximizing Compliance

CA Arun Tiwari 07 March 2024 at 08:44

NRO accounts, also known as Non-Resident Ordinary accounts, are crucial for managing financial transactions for individuals of Indian origin or non-residents earning income in India.

Standard Deduction For Salaried Individuals FY 2023-24

Priya Mulukutla 06 March 2024 at 14:21

The standard deduction for salary income in India was abolished in the Finance Act of 2005-06. At that time, the standard deduction was removed as part of the government's efforts to simplify the tax structure.

RBI Directions on Filings of Supervisory Returns

Affluence Advisory 06 March 2024 at 14:17

The Reserve Bank of India has issued Master Directions on the 'Filing of Supervisory Returns' by all Supervised Entities on February 27, 2024. In this article, we will focus on the changes applicable to NBFCs.

Demystifying ITC Reflection: Asserting the Validity of ITC in GSTR-3B and Beyond

Vivek Jalan 06 March 2024 at 14:16

Valid ITC cannot be denied merely due to Reflection in GSTR-3B. Availment of valid ITC in books, GSTR-9 and GSTR-2B is sufficient

Shareholding Rights of a Subsidiary in its Parent Company

Ishita Ramani 06 March 2024 at 08:41

In this article, we will discuss the shareholding rights of a subsidiary company in its holding company under Section 19.

Form 10F and its Filing Procedure

CA.Sangam Aggarwal 06 March 2024 at 08:41

The CBDT notified Rule 21B prescribing the additional information that is required to be furnished by non-residents along with TRC in prescribing Form-10F.

Home Loan Tax Benefits For FY 2023-24

Priya Mulukutla 05 March 2024 at 15:52

The Income Tax Act has various provisions for an individual to take benefit of and claim deductions for tax purposes. These deductions are an incentive for individuals to make residential real estate purchases.

Income from House Property For FY 2023-24

Khush Trivedi 05 March 2024 at 15:33

Let's dive into one of the heads of Income tax i.e. Income From House property. In this article, you will learn about all Provisions & deductions that falls under the said Head.