CAclubindia Articles

Issue And Redemption Of Preference Shares : Section 55 Of The Companies Act, 2013

Neha Rajan Redekar 07 September 2021 at 17:54

Preference shares are those shares which has priority over the equity shares in payment of dividend. These shares not only have a preferential right to receive dividends but also repayment of capital on winding up.

GST Implication on Export of Goods & Service

CA Amit Harkhani 07 September 2021 at 16:51

Export incentives are certain benefits exporters receive from the government as acknowledgement for bringing in foreign exchange and as compensation for the costs they incur.

SEBI: Related Party Transactions in XBRL mode

CS Tanveer Singh Saluja 07 September 2021 at 09:32

With a view to making the disclosure more accurate and efficient, the NSE, in consultation with SEBI, has introduced a facility for filing RPTs in XBRL mode under regulation 23(9) of LODR Regulations, 2015.

Presumptive Taxation Does Not Create a Privileged Class of Taxpayers

CA.R.S.KALRA 07 September 2021 at 09:29

It is the minimum rate u/s 44AD that has to be considered and higher income option is open for the taxpayers which has to be used if taxpayers have higher income.

Taxability of Interest Accrued on Employee Contribution to Recognized Fund

MOHIT JAIN 07 September 2021 at 09:24

The annual interest computed on employee contribution in excess of Rs. 2.50/5.00 lacs is taxable only at the time when the accumulated balance is paid to the employee.

Important Care to be taken before filing Sept 21 GST Return

CA Umesh Sharma 07 September 2021 at 09:24

Once the return of September 2021 is filed, no changes or rectifications can be made further. Thus, taxpayers must reconcile their books and returns & make the final adjustments.

Section 48: Method Of Computing Capital Gain

Ritik Chopra 06 September 2021 at 13:36

The income chargeable under “Capital gains” shall be computed by deducting the amounts discussed in this article from the full value of the consideration received or accruing as a result of the transfer of the capital asset.

KYC, Re-KYC, Misconceptions around KYC and Dormant Account

Shivaprasad Laxman Chhatre 06 September 2021 at 13:36

KYC is a mandatory process by which bank/s, FI/s obtain information about the identity and address of the customers to establish the legitimacy of a customer.

Tax treatment of interest income on PF contributions

Ajay Kumar Maggidi 06 September 2021 at 09:25

Interest portion on PF contributions exceeding 2.5L is taxable under the head "Income from Other Sources". Taxable Contributions = ((Contributions in excess of 2.5L/5L*)+(Interest accrued thereon)-( Withdrawals)).

How to Explain GST to Your Friends: The Ultimate Guide

rumpa gupta 06 September 2021 at 09:25

The Goods and Services Tax Council has set up a four-tier tax structure. The rates are 5%, 12%, 18%, and 28%, which means that the total tax burden on the product is likely to be around 18%.