CAclubindia Articles

Whether sum paid through MODVAT credit is not allowed as deduction u/s 43B

Posted by FCS Deepak Pratap Singh 27 November 2021 2562 Views

Section 43B(a), deduction is allowed on "any sum payable by the assessee by way of tax, duty, cess or fee." The scheme of s. 43B is to allow deduction when the sum is actually paid.

Overview of Virtual Meeting

Posted by Taxblock 27 November 2021 1221 Views

A meeting held totally by means of either Video conferencing or other audio-visual means is known as Virtual Meeting.

Overview of Related Party Transactions

Posted by Taxblock 27 November 2021 2928 Views

The meaning of the word 'Related Party' is given under Section 188 of the Companies Act, 2013

Section 194K- TDS on Income from Mutual Funds

Posted by Manzil Arora 26 November 2021 12162 Views

TDS of 10% will be applicable only on dividend income earned by investors in mutual funds and capital gain on sale of mutual funds is not covered in this section

Tax Audit under sec 44AB of the Income Tax Act

Posted by Soumya Laha 26 November 2021 388808 Views

Tax Audit limit of Rs 1 crore has been increased to Rs 5 crore with effect from AY 2020-21 (FY 2019-20) if the taxpayer's cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer's cash payments are limited to 5% of the aggregate payments.

What is the best time to study for your exams as per experts?

Posted by Sazal Sharma 26 November 2021 12342 Views

With the everyday stresses of life, it's difficult for anyone to find time to study, especially whenever we're talking about college students or those who have jobs on the side. All of this leads to the question of when is the greatest time to study, when can they get the most done in the least amount of time?

ICAI Elections 2021 | Expectations from the New Torchbearers

Posted by Poojitha Raam Vinay

26 November 2021 3129 Views

The duly elected team of ICAI shall represent the Students and Members of the Institute in particular and the Accounting Fraternity in general. There is a big responsibility for the Team, as Members as well as Students look up to the Institute and also falls back on for guidance and support.