CAclubindia Articles

Tax Planning has to start early

CA Anurag Sharma 16 November 2021 at 09:43

Start your tax planning now rather than asking your CAs or consultants later.

Whether Interest On Compensation Awarded By MACT (Motor Tribunal) Considered As Income

FCS Deepak Pratap Singh 16 November 2021 at 09:42

Whether Compensation awarded by Motor Accident Claims Tribunal - Interest on compensation awarded up to date of order of Tribunal or Court is taxable

Explained: All you need to know about AIS & TIS

Ajay Kumar Maggidi 16 November 2021 at 09:42

The Income Tax Department has rolled out the new AIS & TIS, tax payers can now access the same at e-filing portal.

Bad Bank - A remedy for the NPA Illness

CA Ranganatha Achar K 15 November 2021 at 15:30

In the Budget for FY 2021-2022, Finance Minister Mrs. Nirmala Sitharaman announced that an Asset Reconstruction Company Limited (ARC) and Asset Management Company (AMC) will be set up to deal with the stressed assets of the public sector banks.

Submission of Income Tax Returns through IT return Preparers

Ritik Chopra 15 November 2021 at 13:15

It is quite evident that India has one of the lowest numbers of ITR filers considering the large population of the country. In order to overcome this problem and make tax filing easier for Indians from all walks of life, a new scheme to facilitate submission of Income Tax Return through Tax Return Preparers has been inserted w.e.f. June 1, 2006.

Everything About E-Form MSME-1

CS Divesh Goyal 15 November 2021 at 10:47

In this editorial author shall discuss about each aspect of MSME-1 form.MSME-1 form first time introduced by MCA notification dated 22 January 2019.

Minority being the victim need to be protected - Prevention of Oppression and Mismanagement

CA. (Dr.) Rajkumar Satyanaraya 14 November 2021 at 11:57

This Article mainly deals with the oppression and mismanagement. The Companies Act, 2013 under Chapter XVI covering Sections 241 to 246 deals with Oppression and mismanagement and Class Action. Further provisions for class action are provided under Section 245 and 246. We have a separate article on class action.

Whether Payment for Supplies can be made by Book Adjustments for availing ITC

Udaya Chandran 14 November 2021 at 11:57

There has been a confusion among the dealers whether the consideration for supplies can be paid by book adjustments under GST Act. In many businesses, the dealers buy and sell goods or services from one another for which they don’t make payment in cash rather they adjust the book entries for such purchases and sales.

Whether sum received from Subsidiary to the holding company in a scheme approved by High Court considered as Slump Sale

FCS Deepak Pratap Singh 14 November 2021 at 11:57

Whether any sum received from a subsidiary company by a holding company under scheme of arrangement sanctioned by High Court under provisions of Section 391 to 394 of the Companies Act, 2013 , be treated as 'Slump Sale' and liable to Capital Gain Tax?

MCA & IEPFA further simplifies IEPFA Claim Settlement Process

CS Lalit Rajput 13 November 2021 at 12:51

Ministry of Corporate Affairs has further simplified claim settlement process through rationalization of various requirements under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 with the mission and vision of Government of India of Ease of Living and Ease of Doing Business.