CAclubindia Articles

Deductions under Chapter VIA

Suyash Tripathi 06 May 2021 at 09:38

There are a number of deductions available under various sections that will bring down your taxable income. In this article, we have discussed some deductions under chapter VIA that a taxpayer can claim.

OPC vs. Sole Proprietorship

Suyash Tripathi 06 May 2021 at 09:38

One Person Company and Sole Proprietorship – Sounds one and the same thing, right? However, there are a ton of differences between them. Let us discuss the same.

Relaxation in additional fee of filing of charge related forms i.e. Form CHG-1 and CHG-9

Lakhan Gupta 06 May 2021 at 09:37

As per Section 77, a Form for creation or modification of Charge can be filed within 120 days from the creation of charge with an additional fee and/or ad valorem fee. However, MCA has provided relaxation regarding the same.

All about DigiLocker

Bhavin Rafaliya 06 May 2021 at 09:36

DigiLocker is a cloud-based platform where the user can access a wide range of government documents issued and verified digitally by the department concerned.

Let us do our Karma diligently

T.R.Radhakrishnan 05 May 2021 at 15:07

Every person undertakes Karma for some purpose depending on his or her needs and aspirations and while undertaking the Karma, he or she expects a favourable result also.

Routine Audit Checks - Greater Task Verification of Bank Reconciliation

CA Satish Badve 05 May 2021 at 15:06

The verification of a Bank Reconciliation Statement is to be done in all types of audit and is considered a basic task to be carried out by the auditors.

SME Exchange: An option for Fundraising

CA Harshali Salvi 05 May 2021 at 09:52

In India an SME exchange functions within a recognized stock exchange or the main exchange such as the BSE Limited and the National Stock Exchange of India.

RBI issues guidelines for Appointment of Statutory Central Auditors of Commercial Banks, UCBs and NBFCs

Gaurav Upadhyay 05 May 2021 at 09:52

The Guidelines provide necessary instructions for the appointment of SCAs/SAs, the number of auditors, their eligibility criteria, tenure and rotation as well as norms for ensuring the independence of auditors.

Section 194Q: TDS on purchase of goods

ALEXANDAR GAZI 05 May 2021 at 09:52

The implication of section 194Q in the Income Tax Act, 1961 is one of the several desperate attempts of the Government to increase the flow of revenue into the exchequer.

Buyer cannot be punished 1st for default of the seller under GST

CA Umesh Sharma 05 May 2021 at 09:51

Madras HC has recently given some relief to the recipient of goods from the reversal of ITC when no action was taken by the GST department against the defaulting Seller who has not paid the tax collected from the recipient.