CAclubindia Articles

Introduction of Alternate Taxation Scheme for Individuals and HUF w.e.f AY 2021-22

Posted by Ritik Chopra 16 November 2021 7998 Views

The new tax regime has reduced tax slabs for individual and HUF taxpayers with a condition to forgo certain tax deductions or exemptions. Let us discuss the new regime in this article.

Bad Bank - A remedy for the NPA Illness

Posted by CA Ranganatha Achar K 15 November 2021 7165 Views

In the Budget for FY 2021-2022, Finance Minister Mrs. Nirmala Sitharaman announced that an Asset Reconstruction Company Limited (ARC) and Asset Management Company (AMC) will be set up to deal with the stressed assets of the public sector banks.

Submission of Income Tax Returns through IT return Preparers

Posted by Ritik Chopra 15 November 2021 7046 Views

It is quite evident that India has one of the lowest numbers of ITR filers considering the large population of the country. In order to overcome this problem and make tax filing easier for Indians from all walks of life, a new scheme to facilitate submission of Income Tax Return through Tax Return Preparers has been inserted w.e.f. June 1, 2006.

Everything About E-Form MSME-1

Posted by CS Divesh Goyal 15 November 2021 3031 Views

In this editorial author shall discuss about each aspect of MSME-1 form.MSME-1 form first time introduced by MCA notification dated 22 January 2019.

Minority being the victim need to be protected - Prevention of Oppression and Mismanagement

Posted by CA. (Dr.) Rajkumar Satyanaraya 14 November 2021 2578 Views

This Article mainly deals with the oppression and mismanagement. The Companies Act, 2013 under Chapter XVI covering Sections 241 to 246 deals with Oppression and mismanagement and Class Action. Further provisions for class action are provided under Section 245 and 246. We have a separate article on class action.

Whether Payment for Supplies can be made by Book Adjustments for availing ITC

Posted by Udaya Chandran 14 November 2021 6447 Views

There has been a confusion among the dealers whether the consideration for supplies can be paid by book adjustments under GST Act. In many businesses, the dealers buy and sell goods or services from one another for which they don’t make payment in cash rather they adjust the book entries for such purchases and sales.

Whether sum received from Subsidiary to the holding company in a scheme approved by High Court considered as Slump Sale

Posted by FCS Deepak Pratap Singh 14 November 2021 4741 Views

Whether any sum received from a subsidiary company by a holding company under scheme of arrangement sanctioned by High Court under provisions of Section 391 to 394 of the Companies Act, 2013 , be treated as 'Slump Sale' and liable to Capital Gain Tax?

MCA & IEPFA further simplifies IEPFA Claim Settlement Process

Posted by CS Lalit Rajput 13 November 2021 1057 Views

Ministry of Corporate Affairs has further simplified claim settlement process through rationalization of various requirements under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 with the mission and vision of Government of India of Ease of Living and Ease of Doing Business.

Concept Of Small Shareholder Director

Posted by CA Amrita Chattopadhyay 13 November 2021 5969 Views

The term Small Shareholders have been defined as persons holding shares of a nominal value of not more than INR 20,000 or such other sum as may be prescribed.