CAclubindia Articles

Key Takeaways from Budget for Individual Financial Goals

CA Umesh Sharma 06 February 2024 at 13:11

Hon'ble Finance Minister Nirmala Sitharaman of our country announced the Interim Budget 2024 on 1st February 2024. Here are the key takeaways for individuals from the budget.

Indian Tobacco Industry Faces Crackdown: Unregistered Packing Machines to Attract Rs 1 Lakh Penalty

Abhishek Raja 06 February 2024 at 13:11

In a bid to curb revenue leakage within the tobacco manufacturing sector, the Indian government has introduced a significant amendment to the Central GST Act.

EPF Accounts for NRIs: Eligibility, Process, Withdrawals and Transfers

CA Arun Tiwari 06 February 2024 at 07:55

This article explores key aspects of the EPF, including eligibility, the process of opening and managing accounts, withdrawal options, account transfers, and other crucial information for Non-Resident Indians (NRIs).

Process to add Co-Founder in a Private Limited Company

Ishita Ramani 06 February 2024 at 07:55

The co-founder is the company's first employee and helps with planning, financing, employee onboarding, product development, and mentoring.

No Interest under GST on delayed filing of GSTR-3B

Vivek Jalan 06 February 2024 at 07:55

While Section 50 of The CGST Act was retrospectively amended to provide that there would be no interest liability on delayed filing of GSTR-3B to the extent of balance in The Electronic Credit Ledger

GST on Export of Services

Sparsh Wadhwa 06 February 2024 at 07:55

Exporting goods and services can have a significant positive impact on businesses of all sizes. The chance to access a diverse range of potential clients by tapping into a sizable global market is one of the main advantages.

Error in drafting Section 87A of Income Tax Act, 1961

CA Tejas Andharia 05 February 2024 at 10:51

Most of us would be knowing about and have been claiming a rebate under section 87A of Income Tax Act, 1961. But very few of us would be fully aware about the controversial implications of new drafted proviso (b) to this section which is effective from AY 2024-25. Let's see the Section 87A of Income Tax Act, 1961 first.

ISD and Budget 2024 Proposal under GST

CA Roopa Nayak 05 February 2024 at 10:37

In this background, the Budget 2024 has proposed amendment to make distribution of common credit mandatorily by ISD route. This proposal is yet to be notified. The author has examined the ISD concept and the implications of the latest proposals.

Decoding Slump Sale: Merger Implications under Companies Act & Income Tax Act

Priyanshi Garg 05 February 2024 at 08:53

Slump Sale means the transfer of one or more undertakings against a lump sum consideration without values being allocated to the individual assets and liabilities.

All about TDS Returns and its Filing Procedure

CA.Sangam Aggarwal 05 February 2024 at 08:53

TDS is required to be deducted by a person for certain payments made by them. Every Assessee who has deducted TDS is required to file TDS Returns. TDS Returns are quarterly statements, which contain the information pertaining to TDS deducted and deposited. It is submitted by person who deducted TDS i.e. TDS deductor.