CAclubindia Articles
NBFCs under Regulatory Spotlight: Emphasis on Sustainable Practices and Risk Management
In a strong and timely advisory, the Reserve Bank of India (RBI) has urged Non-Banking Financial Companies (NBFCs) including Microfinance Institutions (MFIs) and Housing Finance Companies (HFCs) to cultivate a ‘compliance-first' culture.
PAN 2.0: A Digital Leap in Taxpayer Services
The Permanent Account Number (PAN) has long been a cornerstone of India's financial and administrative systems, connecting individuals and businesses to vital economic activities while promoting financial transparency and compliance.
RCM on Properties Rented from Unregistered Landlords: Challenges for Composition Taxpayers and Some Relief Strategies
In this article, we discuss its implications on composition taxpayers and give some tips to reduce the financial and compliance burden.
Documents Required to Register a Pvt Ltd Company in India
This article helps you outline the important files needed to register a Pvt Ltd business in India.
Tax Compliance: Employees Not Liable for Employer's TDS Mismanagement
Explore the intricacies of TDS under the Income-tax Act, 1961, focusing on the responsibilities of deductors, TDS credit provisions, and key judicial rulings protecting deductees from being treated as assessee-in-default. Understand CBDT guidelines and recent high court judgments addressing TDS mismatches and employer-employee tax issues.
IT Department May Impose Rs 10 Lakh Penalty For Non Disclosure of Foreign Income
The Indian government has taken a strong stance against non-disclosure of foreign income and assets, especially with the implementation of stringent provisions under the Income Tax Act and international agreements such as FATCA
Section 40A(3): No Disallowance for Excessive Payments If Business Expediency and Party Genuineness Are Established
Excessive payment u/s 40A(3) are not disallowed in case business expediency and identity and genuineness of parties are proved
Probate, LoA and Succession Certificate
When a person dies without leaving a Will ("Intestate Individual"), his/her succession is called Intestate Succession. It includes (a) Probate; (b) Letter of Administration; and (c) Succession Certificate.
Negative Impact of the GST Portal's New Invoice Management System on Quarterly Return Filers
The Goods and Services Tax (GST) portal has recently introduced a significant update in the form of an Invoice Management System (IMS).
Taxpayers Win - Favourable Case for Rebate u/s 87A on Short-Term Capital Gains
It's a noteworthy Beena Manishbhai Fofaria V/s CIT(Appeals) case that clarifies the application of Section 87A, especially after the amendments brought by the Finance Act, 2023. This ruling is beneficial for many taxpayers.
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