CAclubindia Articles

Section 139(8A) of the Income Tax Act: Furnishing Updated Returns Made Clear

Shivani 10 January 2025 at 14:01

An Updated return can be furnished u/s 139(8A) of the Income Tax Act 1961 by any person, whether or not he has furnished a return under sub-section (1) or sub-section (4) or sub-section (5), for an assessment year

Maximizing Tax Benefits on Home Loan Interest: A Strategic Guide

CA Abhishek Agarwal 10 January 2025 at 08:48

Buying a home is a dream for many, but the associated home loan interest can be a financial burden. However, with strategic planning, you can turn this burden into a tax-saving opportunity

Comprehensive Overview of RBI's Master Direction on Credit Information Reporting, 2025

CS Parveen Sihag 10 January 2025 at 08:40

IntroductionThe Reserve Bank of India (RBI) has issued a seminal directive titled Master Direction – Credit Information Reporting, 2025, consolidating and

Transfer and Transmission of Shares in the Case of Joint Shareholders

Ishita Ramani 10 January 2025 at 08:40

This article explores the process and implications of transfer and transmission shares in the context of joint shareholders.

Challenges Faced by Intermediaries under GST While Serving Exempt Educational Institutions

Chandan Shukla 09 January 2025 at 08:42

This article aims to shed light on the issues faced by intermediaries, the legal framework governing these challenges, and suggestions for relief.

Market Outlook 2025 Global Trends and Predictions

Affluence Advisory 09 January 2025 at 08:42

2024 has been a year marked by uncertainties and surprises. From financial markets to geopolitical developments, and from fluctuating interest rates to persistent inflation, events that once seemed unlikely gradually turned plausible and ultimately became reality.

New Income Tax Excel Utility for ITR-2 & ITR-3 Version 1.8 for AY 2024-25 Now Available

Joseph Amal T A 08 January 2025 at 08:46

The Indian Income Tax Department has introduced the latest versions of its Excel utilities for filing Income Tax Returns (ITRs) for the Assessment Year 2024-25.

Advantages of LLP for Freelancers and Consultants

Ishita Ramani 08 January 2025 at 08:45

Freelancers and Consultants often are searching business systems that provide safety and credibility i.e., Limited Liability Partnership (LLP).

Latest RBI Guidelines for FDs, Credit Cards and UPI Transactions w.e.f 1st January 2025

Chaitra Seetharam 07 January 2025 at 11:01

Starting January 1, 2025, the Reserve Bank of India (RBI) will introduce several major regulatory changes impacting fixed deposits (FDs), credit cards, and Unified Payments Interface (UPI) transactions.

Updated 24Q TDS Return Effective from January 2025 - Relief to Salaried Employees

Joseph Amal T A 07 January 2025 at 08:44

From October 1, 2024, the government mandated employers to consider the TDS/TCS deducted on non-salary income when computing TDS on salary. This adjustment aims to reduce the excessive TDS deductions often faced by salaried employees by ensuring that tax already paid on non-salaried income is accounted for.