CAclubindia Articles

What is income and what are the different sources of income

Taxblock 27 October 2021 at 09:42

Income is the money received by a person periodically on a daily, weekly, monthly, or yearly basis. Income includes monetary as well as non-monetary values of allowances and perquisites.

Loan To Directors - Section 185 Of The Companies Act, 2013

Neha Rajan Redekar 26 October 2021 at 16:30

Pursuant to the provisions of section 185(1) of the Companies Act, 2013 no company shall, directly or indirectly, advance any loan to any director of the company.

Can women do better as Professionals

CMA Mrudula M 26 October 2021 at 09:49

Women professionals in various sectors are attempting to remove the gender disparity that exists in the industry. Young women must clinch to their dreams and not let societal norms determine their path.

What is PAN and TAN?

Taxblock 26 October 2021 at 09:36

PAN is a single number that is an electronic system and has all the tax related information of a taxpayer. TAN is a 10 digit alpha numeric number allotted to persons who are responsible for TCS and TDS.

Various Offences Under Income Tax And Penalty Applicable To It

Taxblock 26 October 2021 at 09:36

Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well.

Person liable for Obtaining GST registration

Ashok Pitroda 26 October 2021 at 09:35

Every supplier shall be liable to be registered under the GST Act in the State or UT, from where they make a supply of goods or services if their aggregate turnover in a FY exceeds the prescribed limits.

Exceptions to the provisions of Sec 44AD(4) & Sec 44AD(5) - Part VI

CA.R.S.KALRA 25 October 2021 at 09:46

There are certain cases in which the assessee fails to opt for the provisions of presumptive taxation because they are not eligible, due to an increase in turnover or receipt of any commission.

Let it go

CA Anurag Sharma 25 October 2021 at 09:41

We are just wasting our time and energy on forming opinions and fighting uselessly on issues that just don't matter to us. It clearly impacts our mental peace too.

Whether Penalty Or Fines Or Penal Interests Allowed As Expenditure Under Section 37(1) Of IT Act,1961

FCS Deepak Pratap Singh 25 October 2021 at 09:41

The objective of Section 37 is to claim business expenditure incurred by the assessee which is not covered under sections 30 to 36 as deductions. Thus, this section is as a general section for claiming deductions.

UDYAM - Whether A Boon or Bane for MSMEs

Vaibhav Singh 25 October 2021 at 09:41

Government should expand the definition of MSME to include traders, accept self-declaration and make registration mandatory over a 24-36 month period to make transitions smooth and seamless.