CAclubindia Articles

Consequences of Submitting Fake Rent Receipts for Claiming HRA

FCS Deepak Pratap Singh 21 February 2025 at 08:30

The Income Tax Department has found various cases of claiming HRA on the basis of fake documents and hence taken firm steps to check tax leakage.

Simplification of TDS/TCS Provisions in the New Income Tax Bill

Shree 20 February 2025 at 14:31

The government has proposed significant simplifications to the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions in the new Income Tax Bill.

Compounding Regulations under FEMA

Affluence Advisory 20 February 2025 at 08:29

Compounding of contraventions is a voluntary process where an individual or entity admits a contravention under any provision of law and seeks to settle the matter by paying the compounding fees, thus avoiding lengthy legal proceedings and hefty penalties that arise due to the committed contraventions.

A Guide on How to Register an LLP Online

Ishita Ramani 20 February 2025 at 08:29

This article outlines the simple steps to correctly register an LLP online, highlighting the key benefits of LLP Registration Online.

New Income Tax Bill Simplifies Salary & House Property Rules for Easy Filing

Shree 19 February 2025 at 12:42

The latest tax reform bill has introduced significant simplifications in the Salary and House Property provisions to enhance clarity and ease of compliance.

7 Corporate Lessons from the Movie "Mrs."

CA Pallav Singhania 19 February 2025 at 08:26

Mrs. isn't just a story about one woman-it's a mirror to workplaces stuck in outdated norms. Whether it's resisting tech, ignoring talent, or undervaluing well-being, the cost of clinging to the "old way" is steep.

Condonation of Delay in ITR Filing u/s 119(2)(b) of the Income Tax Act, 1961

CA Varun Gupta 19 February 2025 at 08:26

The Income Tax Act, 1961 establishes specific timelines for the filing of income tax returns (ITR). However, taxpayers may encounter unexpected situations that lead to delays in meeting these deadlines.

Understanding 'Tax Year' vs. 'Financial Year' in the New Income Tax Bill

Ayush 18 February 2025 at 13:02

One of the most notable changes is the introduction of the term "tax year," which replaces the concept of the "previous year" and the "assessment year" from the Income Tax Act, 1961.

A Comparative Study on the Old and New Tax Bill

Poojitha Raam Vinay 18 February 2025 at 10:34

On 13th February 2025, Hon'ble Finance Minister Smt Nirmala Sitharaman proposed the New Tax Bill. The new bill is proposed to come into force on April 1, 2026. ..