CAclubindia Articles

Analysis of rule of marshalling and contribution

FCS Deepak Pratap Singh 17 August 2022 at 09:55

It is important to point out here that Marshalling is applicable in situation where debt can be satisfied out of other properties.

Compensation payable in case of death of a child in an accident

FCS Deepak Pratap Singh 17 August 2022 at 08:44

It can be concluded that it order to determine the amount of compensation in particular case, the Court have to look into facts and circumstances of the case. The pecuniary amount can be determined easily but determination of the non pecuniary damages depends upon the facts and circumstances and discretion of the court.

Independence of Trusts, Educational, Charitable Institutions now dependant on their Books of Accounts

CA Umesh Sharma 16 August 2022 at 15:00

On 10th August 2022 Notification No. 94/2022 was issued notifying the New Rule 17AA for books of accounts and other documents to be kept and maintained by Trusts and other various Institutions.

Assessment under the Income Tax Act 1961

Ashok Pitroda 16 August 2022 at 15:00

The process of examining the return of income by the Income Tax department is called "Assessment".

Govt. update on Package for MSME Sector

CS Lalit Rajput 16 August 2022 at 14:48

The Central Government has announced Bailout Package for MSMESs Sector vide Press Release ID: 1846944 dated 01st August, 2022 and has operationalised AatmaNirbhar Bharat Package for MSMEs to cope up with the COVID-19 crisis.

No more Atal Pension Yojana benefits for Income Taxpayers from October 1

Neethi V. Kannanth 16 August 2022 at 11:14

The notification released by the Government states that from 1st October, 2022 any citizen who is or has been a taxpayer shall not be eligible to join the Atal Pension Yojana.

ITR Refund Quick Process

CS Lalit Rajput 16 August 2022 at 08:36

Under the income tax and other Direct Tax laws, tax refunds arise in those cases where the amount of tax paid by a person (or paid on his/her behalf) is greater than the amount on which he/she is properly chargeable. When you file the return of your income, you can avail tax refund.

GST circular 178/10/2022 - Liquidated damages and other issues

CA Roopa Nayak 15 August 2022 at 06:46

In this article the paper writer has examined the latest circular and its impact for various kinds of recoveries made under GST law.

Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022

CS Lalit Rajput 13 August 2022 at 17:26

The Central Consumer Protection Authority has issued Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022 to provide for the prevention of false or misleading advertisements and making endorsements.

Composite supply vs RCM vs Transaction value

CS Advocate Abhishek Goyal 13 August 2022 at 16:39

In case of GTA services, the person who is liable to pay freight is considered as the service recipient. Recipient of GTA service is liable to pay RCM on such freight. Accordingly RCM is payable under CGST, SGST or IGST head.