CAclubindia Articles

Difference between Form 16 and Form 16A

Posted by Ishita Ramani 10 May 2024 7675 Views

Know everything about Form 16 & 16A of Tax Deducted at Source

Why Many Salaried Employees Received Notices for AY 2023-24?

Posted by Khush Trivedi 10 May 2024 3876 Views

As we are all aware, under the Income Tax Act of 1961, every assessee has to furnish his income tax return as required by 139. Once it has been furnished, the assessment part comes into play, where an assessing officer scrutinizes the ITR form and takes action as required.

Growth in A Professional Firm

Posted by Madhukar N Hiregange 10 May 2024 469 Views

The world is changing dramatically, and if one is not aware of what the future is and what major changes are taking place in the future, one may not be able to sustain the practice.

How do Freelancers Save Tax in India

Posted by Sparsh Wadhwa 10 May 2024 1446 Views

Freelance income includes earnings that you generate from completing freelancing tasks. Freelancing is a form of self-employment as you are not hired by the company or placed on its payroll.

The Benefits of Cloud Accounting for SMEs

Posted by Sundaran.D 10 May 2024 320 Views

In recent years, the advent of cloud accounting has revolutionized how SMEs handle their finances, offering a myriad of benefits that can streamline processes and drive growth.

GST Payable on Sale of Capital Goods under CGST Act: Section 18(6) viz-a-viz Rule 40(2) and Rule 44(6)

Posted by CA. Bhavik P. Chudasama 09 May 2024 6578 Views

The Goods and Services Tax (GST) regime allows businesses to claim Input Tax Credit (ITC) on purchases used for taxable supplies. However, there are situations where previously claimed ITC needs to be reversed.

Capital Gain Exemption Under Section 54 of Income Tax Act, 1961

Posted by Neethi V. Kannanth 09 May 2024 6377 Views

As per section 54, an individual or HUF selling a residential house property can avail tax exemption under the said section for capital gain, provided the capital gains are invested in purchase or construction of Residential House Property.

ITR Filing Due Date FY 2023-24 (AY 2024-25)

Posted by Shivani 09 May 2024 23193 Views

For FY 2022-23 (AY 2023-24), the original ITR filing deadline was July 31, 2023, with no late fee. If missed, you can file a belated return by December 31, 2023, but with a late fee and interest.

All about Angel Taxation in India

Posted by CA Aman Rajput 09 May 2024 988 Views

Angel Tax which is governed by Section 56(2)(viib), was introduced in the Income Tax Act from the Assessment Year 2013-14 via finance bill, 2012 as a step to take up the circulation of unaccounted money in the name of share premiums which were received by private companies or closely held companies.