CAclubindia Articles

Sec 35AD: Deduction in respect of capital expenditure incurred on setting up of a specified business

Ritik Chopra 07 May 2021 at 09:37

Deduction u/s 35AD is available towards any capital expenditure, wholly and exclusively, incurred for carrying on a specified business. This deduction has been applicable since AY 2010-11.

Interest on Reversal of Unutilized ITC

CA PIYUSH KAPOOR 07 May 2021 at 09:37

There is no specific mention of Interest on Unutilized Credit reversal. Rules marked regarding the charging of Interest u/s 50 (1) cannot override the section in which there is no Interest mention on reversal of unutilised ITC.

What is the Scope of Company Secretary in the Government Sector?

Tushar Pahade 07 May 2021 at 09:37

Being a Principal legal Advisor to the Board of Directors, CS provides the best guidance on corporate governance and is responsible for complying with all regulations.

A Brief Explanation Of Relaxations Announced By MCA

Gunjan Sachdev 06 May 2021 at 19:13

The Ministry of Corporate Affairs has announced various relaxations for the sake of the stakeholders in this crisis of Covid-19. Same has been discussed in this article.

Section 40A(2)(b) of Income Tax Act, 1961

Sahil Dhingra 06 May 2021 at 19:11

Section 40A(2) of the Income Tax Act lays down provisions for the disallowance of certain payments to relatives. Let us discuss persons covered u/s 40A(2)(b).

Non Convertible Debentures (NCDs)- Why I think its not a game of retail investors

CA KANJ GOEL 06 May 2021 at 19:10

Non Convertible Debentures are those instruments that are issued by corporates having a fixed maturity period and carrying the fixed coupon/interest rate against the principal.

Rule 86B: Analysis of Rule mandating the payment of GST in cash irrespective of availability of ITC

Suyash Tripathi 06 May 2021 at 09:38

CBIC has introduced a new rule 86B under Goods and Services Tax which restricts the use of input tax credit for discharging liability to 99%. The Rule is effective from 01st January 2021.

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.