CAclubindia Articles

How technology is helping the Indian government crackdown on fraudulent ITC rackets and promoting compliance with tax laws

CA. Heet Shah 24 June 2023 at 08:41

The recent crackdown by the Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, on fraudulent input tax credit (ITC) rackets is an important step in curbing tax evasion in India

Revisiting PM Modi's Vision: Unraveling the Challenges of Big 8 Accounting Firms and the Quest for 4 Indian Accounting Firms

Karan Khatri 24 June 2023 at 08:41

Prime Minister Narendra Modi's ambitious vision of establishing Big 8 accounting firms globally, along with nurturing four major Indian accounting firms, has garnered attention and sparked discussions

Setting up of the GST Appellate Tribunal: Are We Ready?

Bimal Jain 23 June 2023 at 14:20

Tribunals are judicial institutions established by law, to provide a platform for expedited and specialized expertise in the process of adjudication.

Big Change for Consultants and Professionals: CBDT's New Form 10-IEA Enables Old Tax Regime Choice

Rashmi 23 June 2023 at 14:20

The CBDT notification, issued on June 21, 2023, outlines the procedure for consultants and professionals to follow if they want to stick with the old tax regime. They can fill out Form 10-IEA, which allows them to continue under the old tax regime and claim eligible tax exemptions and deductions.

Importance of Due Diligence for SMEs

Sundaran.D 23 June 2023 at 09:10

In this article, we will explore the significance of due diligence for SMEs and outline key steps involved in conducting a thorough due diligence process.

Distribution of Input Credit under GST: ISD Mechanism vs. Invoicing Mechanism (Cross Charge)

CA. Heet Shah 23 June 2023 at 09:10

This article delves into the characteristics, implications, and relevant caselaws surrounding these two mechanisms, shedding light on the factors businesses should consider when choosing between them.

Tax Deducted at Source: A Brief Analysis

Suhasini 22 June 2023 at 15:29

Tax Deducted at Source (TDS) is a system in which the person responsible for making certain payments deducts a specific amount of tax from the payment at the time of making it.

MCA plans to increase crackdown on shell companies

Rashmi 22 June 2023 at 14:34

The Ministry of Corporate Affairs (MCA) is taking strong action against non-functional companies, commonly known as shell companies, as part of its ongoing efforts to combat illegal activities. MCA is planning to further intensify its crackdown on these companies, which are often used for illegal money transactions.

Importance of Internal Audit in Organizational Governance

Sundaran.D 22 June 2023 at 09:02

Internal audit is a critical function within organizations that helps ensure effective governance, risk management, and control processes.

Simplify Your Crypto Tax Journey with Binocs: A Game-Changer for Chartered Accountants

CA Ruby Bansal 21 June 2023 at 14:14

Binocs seeks to make crypto taxes less of a burden and more of a gain by streamlining them as a cutting-edge CA solution. Binocs is prepared to handle any situation, whether your clients are novices in the cryptocurrency world or seasoned investors. Here's why it's time to accept this paradigm-shifting idea.