Popular Articles

Capital gains - Exemption from tax u/s 54 & 54F

Posted by CMA Poornima Madhava 01 April 2015 227568 Views

Capital gains - when and to what extent exempt from tax u/s 54 & 54FSection 54 provides exemption to capital gains arising from transfer of a residential house property (being building or land appurtenant thereto), the income of which is chargea

Most Ignored Section 80GG - Deductions in Respect of Rents

Posted by Amol Gopal Kabra (CA,CS,DISA) 20 September 2023 226673 Views

SECTION 80GG DEDUCTIONS IN RESPECT OF RENTS PAID Section 80GG is a little ignored Section of the Income Tax Act, 1961. This section provides deductions to those individuals who dont get any benefit of the amount paid towards rented accomm

Levy of penalty or interest for non submission of C forms

Posted by Amit Bajaj 09 May 2011 226273 Views

As we know C forms are required to be submitted by a seller with the sales tax authorities after obtaining the same from the purchaser of goods if the sale is an interstate sales and CST has been charged at concessional rate of 2% as per the require

Passing of Board resolution by circulation under Section 289

Posted by Ankur Garg 03 April 2009 225285 Views

Passing of Board resolution by circulation under Section 289 of the Companies Act, 1956. In the absence of any provision in the Act or the Company’s articles of association, requiring that the exercise of a particular power of the directors sh

deduction u/s 80-IA of income tax act, 1961

Posted by CA Anshu Agarwal 28 January 2010 225133 Views

3.1 Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. [Section 80-IA]3.1.1 Applicability: where GTI includes any profits and gains derived from eligible business.

How I passed IPCC(both groups) in 60 days

Posted by Member (Account Deleted) 12 February 2011 224024 Views

My name is Pai. Abhijit Pai. This is my first article and hopefully not the last one on ca clubindia. I have passed both groups of my November 2010 IPCE in my first attempt. I studied for a period of 60 days in a systematic way and managed to cover

Issues relating to TDS on Hotel Accommodation Expenditure

Posted by Sagar Tilak 15 June 2012 223978 Views

The Tax Deduction at Source (TDS) on payment for hotel accommodation has always been a controversial issue. The assessee comes across a situation where he pays for the hotel accommodation taken for the guests of the entity in usual course of busines

Depreciation Rates as per Income Tax Act for FY 2023-24

Posted by Mitali 07 March 2024 223646 Views

Under the Income Tax Act, depreciation is allowed as a deductible expense for assets used in business or profession, subject to certain conditions and limitations. The amount of depreciation that can be claimed depends on the asset's useful life, which is determined by the Income Tax Rules.

Section 40A(2)(b) of Income Tax Act, 1961

Posted by Sahil Dhingra 28 February 2024 223595 Views

Section 40A(2) of the Income Tax Act lays down provisions for the disallowance of certain payments to relatives. Let us discuss persons covered u/s 40A(2)(b).

Baggage Rules

Posted by CMA Poornima Madhava 30 January 2021 222096 Views

Baggage RulesWhat is meant by Baggage? It is the luggage of the passenger travelling by air or sea from one country to another It also means all dutiable goods imported by a passenger or a member of crew in his/her baggage Baggage INCLUDES unaccompan