CAclubindia Articles

ITR and Audit Due date Further Extended by CBDT

CS Lalit Rajput 11 January 2022 at 19:54

CBDT has considered representation w.r.t. difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the "Act").

From 99 to 0, its all game of 1

Aarti Maurya 11 January 2022 at 17:31

Being a student, we are more scared of our exams than we can ever be from monsters or even from zombies. Have you questioned yourself why? Let's talk about why today.

The problem of a big M

Vinita Punjabi 11 January 2022 at 14:16

Motivation isn't one thing that we either have or do not have. Lots of forces are at play that determines the course of our life. There's no manual or a step by step guideline to fuel your positive reinforcement.

When recovery will be initiated on difference between GSTR-1 & GSTR-3B?

CA Umesh Sharma 11 January 2022 at 11:28

If the taxpayer is able to justify the differences between GSTR 1 and GSTR 3B, then there may not be any requirement to initiate proceedings for recovery under section 79.

Concept of Rupee Denominated Bonds (Masala Bonds)

FCS Deepak Pratap Singh 11 January 2022 at 10:45

The RBI after consultation with the Department of Economic Affairs, Ministry of Finance, Government of India has come out with the concept of Rupee Denominated Bonds, generally known as "MASALA BONDS" in the overseas market. These bonds are utilized as a tool by eligible Indian entities to raise funds from overseas.

Guidelines for recovery for self-assessed tax (GSTR 1 vs GSTR 3B)

Rohit Kumar Singh 11 January 2022 at 08:53

Central Government introduced amendment to Section 75 (12) of the CGST Rules, 2017 by inserting an explanation thereby paving way for recovery of self-assessed tax without having to resort to proceedings u/s 73 or Sec 74 of the Act.

Definition of Carpet Area under RERA 2016

FCS Deepak Pratap Singh 10 January 2022 at 08:44

Real Estate Sector before introduction of RERA,2016 was one of the most unregulated sector in the country. We know that the Real Estate Sector is contributing around 6.5 to 7% of the GDP of India.

What lies beyond LIBOR?

prasenjit nandi 10 January 2022 at 08:44

LIBOR or the London Interbank Offered Rate is probably the widely used interest rate curve across various financial instruments.

Agricultural and Processed Foods Export Promotion Scheme (APEP Scheme)

Lakshit Jindal 10 January 2022 at 08:44

APEP Scheme is a financial assistance scheme introduced by APEDA (i.e., Agricultural and Processed Food Products Export Development Authority) for facilitating the export of Agri-products by providing assistance to exporters. The scheme shall be valid for 5 years from FY 2021-22 to 2025-26.

Human capital formation in India

Aarti Maurya 10 January 2022 at 08:44

Human capital formation is process of adding skills to individual which will add to the stock of human capital. In order to transform the liability of the huge size of population into assets adoption of various measures for human capital formation is very much essential.