CAclubindia Articles

Who is required to file the Return of Income?

Sagar Devani 01 May 2021 at 09:52

As per Section 139(1) of the Income Tax Act, 1961, it is compulsory for companies and firms to file a return of income for every previous year on or before the due date in the prescribed form.

RBI set parameters for appointing Bank Auditor for FY 2021-22 and onwards

Manish Mehra 01 May 2021 at 09:52

RBI on 27.04.2021 has issued guidelines for the appointment of Statutory Central Auditors of commercial banks (excluding RRB), Urban cooperative banks (UCBs) and NBFCs including Housing Finance Companies.

Death of directors in COVID scenario

Ketan Haria 01 May 2021 at 09:52

Whenever a Director dies, it is regarded as a casual vacancy of the office. A Casual Vacancy is when a director’s office is vacated before the expiry of his tenure.

TDS under Section 206AB

Sashank Saxena 01 May 2021 at 09:52

Where tax is required to be deducted on any sum or income or amount paid under Chapter VIIB, TDS shall be deducted at higher of (i) at twice the rate in relevant provisions (ii) at twice the rate in force (iii) at 5%.

Corporate Governance in Banks: RBIs instruction ahead of master direction

Manish Mehra 01 May 2021 at 09:52

RBI has made a comprehensive review of the framework for governance in commercial banks. Instructions regarding the chair of the board, composition of its committee, age, tenure and remuneration of directors/whole time directors have been issued.

Pre-packaged insolvency resolution process: Survival & Revival of Stressed MSMEs

CMA Harshad S Deshpande 01 May 2021 at 09:52

The pre-packaged insolvency resolution process aims to provide an efficient alternative insolvency resolution framework for corporate persons classified as MSMEs for ensuring quicker, cost-effective and value maximizing outcome for all stakeholders.

2nd wave of Covid-19 badly hits future Sentiment for Indian Real Estate

Ramesh Agrawal (LL.B , CA) 01 May 2021 at 09:52

Due to uncertainties & spread of the 2nd wave of Covid-19, the "Future Sentiment Score" declined from 65 in Q-4 of 2020 to 57 in Q-1 of 2021 as per a survey conducted by Knight Frank-FICCI-NAREDCO.

Practical difficulties of implementing 206C(1H) and 194Q

Shailesh Prajapati 01 May 2021 at 09:52

This article brings out the practical difficulties as well as a probable solution to the difficulties faced by Small and Medium Enterprise while implementing section 206C(1H) and 194Q.

GST Implication on Housing Societies or Residential Welfare Associations (RWA)

CA Amit Harkhani 30 April 2021 at 10:26

Co-operative Housing Societies are entities registered under the co-operative laws of the respective states. In this article, we discuss the GST implication on Housing Societies and Residential Welfare Associations.

Exemption Under Section 54G

Neethi V. Kannanth 30 April 2021 at 09:47

Section 54G provides for an exemption from capital gain arising on transfer of a capital asset, being plant or machinery or land or building or any rights in building or land used for the purpose of business in an industrial undertaking situated in an urban area.