CAclubindia Articles

All about Foreign Bank and Financial Accounts Regulations (FBAR)

Posted by Taxblock 03 October 2022 2769 Views

The Foreign Bank and Financial Accounts Regulations (FBAR) form came into existence as part of the Bank Secrecy Act of 1970 (BSA) with the aim to prevent taxpayers from avoiding paying taxes by hiding assets overseas

Whether payment by a resident to non-resident for imported software is payment of 'royalty' requiring to deduct tax u/s 195 or a transaction of purchase of goods?

Posted by Adv. Ravish Bhatt, ADIT, CIOT 02 October 2022 4136 Views

S.9(1)(vi)(b) of the Income Tax Act, 1961 ("The Act") provides that income by way of royalty payable by a resident except where the royalty is payable in respect of any right, property or information used or services

Understanding Important Tax Audit Reporting Clauses with Funny QAs

Posted by Mayank Mohanka 02 October 2022 20060 Views

In this article, I am presenting some hilarious Tax Audit QAs/visualisations conceived and visualised by me, which will help You in understanding all important reporting clauses in the Form 3CD Annexure in the Tax Audit Report (TAR), in a funny yet purposeful and useful manner.

Common Non-Compliances of Financial Reporting - Part 1

Posted by CA Rakesh Ishi 02 October 2022 3052 Views

The common non-compliances in reporting requirements of various applicable Statues as observed by the Financial Reporting Review Board (FRRB) constituted by ICAI during the review proceedings.

Due Date Compliance Calendar for the month of October 2022

Posted by Neethi V. Kannanth 01 October 2022 17937 Views

Compliance Calendar for the month of October 2022

What is NRE and NRO Account?

Posted by Taxblock 01 October 2022 5574 Views

A Non-Resident External (NRE) Account is a bank account that an NRI can open in an Indian scheduled bank to deposit their foreign earnings in India. These accounts can be savings accounts, current accounts, recurring deposits, and fixed deposit accounts