CAclubindia Articles

Whether Fluctuations In Foreign Exchange Considered As Capital Receipt

FCS Deepak Pratap Singh 01 November 2021 at 09:39

In respect of income chargeable under Section 4(1), Income Tax shall be deducted at the source or paid in advance, where it is so deductible or payable under any provision of this Act.

All you need to know about the Nykaa IPO

Neethi V. Kannanth 30 October 2021 at 13:21

The Initial Public Offering of Nykaa, with a price band of Rs. 1,085-1,125 per share, has opened for public subscription on Thursday and will conclude on November 1.

Presumptive Taxation For Professionals under Section 44ADA

CA.R.S.KALRA 30 October 2021 at 10:03

In case of a person adopting the provisions of section 44ADA, income will be computed on a presumptive basis, i.e. @ 50% of the total gross receipts of the profession.

Non Registration Of Charge With ROC - May Deprive You From Position Of Secured Creditor

FCS Deepak Pratap Singh 30 October 2021 at 09:33

'Charge' was not registered as per the provisions of Section 77 (1) of the Companies Act, 2013 and as envisaged under the IBC 2016, hence the Creditor cannot be treated as a 'Secured Creditor'.

Whether Grant By Holding Company To Its Subsidiary Treated As Revenue Receipt

FCS Deepak Pratap Singh 30 October 2021 at 09:33

The Appellate Tribunal held that the grant received was not taxable as revenue receipt since the said grant was given to recoup the losses incurred by the assessee and was hence, in the nature of capital contribution.

Summary of TDS provisions in GST

Abhishek Raja 30 October 2021 at 09:33

TDS is to be deducted at the rate of 2% on payments made to the supplier of taxable goods/services, where the total value of such supply, under an individual contract, exceeds Rs. 2,50,000.

Interesting Issues in the Presumptive Taxation Scheme - Part VII

CA.R.S.KALRA 29 October 2021 at 10:04

A firm having zero income is not liable for tax audit under section 44AB. It does not make any difference that the loss is after deducting the salary and interest to partners.

Importance of critical thinking

Abhishek Panegal 29 October 2021 at 09:38

If learning is made a lot more creative, and we are taught to apply minds then we will be able to develop the art of 'critical thinking. It is certainly the need of the hour.

Role of Chartered Accountants to Indian Economy

Tushar Pahade 29 October 2021 at 09:37

A rational person can see the presence of CAs in any field. Whether budget planning, tax planning, bookkeeping, investment accounting, or financing etc, requirements for auditors exist in all areas.