CAclubindia Articles

Calculation Of Capital Gain In Special Cases

Ritik Chopra 01 September 2021 at 09:53

Discussing Calculation Of Capital Gain In Special Cases like Amount received from Insurer, Deemed Transfer, and Transfer of Capital Assets by a person to firm, AOP or body of individuals, etc.

Tax Audit in Case of Trading in Shares

Neethi V. Kannanth 31 August 2021 at 09:47

If a person’s total gross receipt and payment in cash does not exceed 5% of the total receipts and payments, then the limit of turnover for tax audit is Rs. 5 crores.

Concept of Limited Liability Partnership - An analysis

Neha Rajan Redekar 31 August 2021 at 09:28

Limited Liability Partnership is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.

Key Actionable Items for FY 2020-21 before September 2021 returns

Rohit Kumar Singh 31 August 2021 at 09:26

We have prepared various scenarios wherein taxpayers may have erred in furnishing details in returns for 2020-21 and methodology to rectify the same in GSTR 1 or GSTR 3B of September 2021 Returns.

Now non-filing of GSTR-3B for two months restricts filing of GSTR-1 / IFF

CA Umesh Sharma 31 August 2021 at 09:26

Rule 59(6) of CGST Rules,2017 providing for restriction in the filing of GSTR-1 has been inserted by CBIC which will be implemented on the GST Portal from 1st September 2021.

Interplay of Sec 44AA, 44AB and 44AD of the Income Tax Act, 1961

CA.R.S.KALRA 30 August 2021 at 17:21

There are various monetary limits u/s Sec 44AA, 44AB and Sec 44AD relating to maintenance of books of accounts and audit. These provisions have created ambiguity among taxpayers and professionals.

Income Tax (CBDT) Due Date Further Extended on 29th August 2021

CS Lalit Rajput 30 August 2021 at 09:36

CBDT, in exercise of its power u/s 119 of the Income-tax Act, 1961 has issued a circular w.r.t. Extension of timelines for electronic filing of various Forms under the Income-tax Act, 1961.

Income Tax Updates: Extension of timelines dated 29th August 2021

CS Tanveer Singh Saluja 30 August 2021 at 09:31

CBDT has announced an extension in the electronic filing of various forms under the Income Tax Act on 29th August 2021. Same has been discussed in a tabular format in this article.

GST Important Updates Offering Relief to Taxpayers

CS Tanveer Singh Saluja 30 August 2021 at 09:31

CBIC extends the timeline for filing of the application for revocation of cancellation of registration and late fee amnesty scheme while also amending Form GST ASMT-14 via CGST (Seventh Amendment) Rules, 2021.

Unveiling the Career in Forensic Accounting and Auditing

Poojitha Raam Vinay 30 August 2021 at 09:28

Forensic Accounting is an area of accounting that investigates frauds or financial manipulation in financial information. This enables lawyers and accountants in criminal proceedings of the fraud.