CAclubindia Articles
Changes in IGAAP Reporting Framework by MCA w.e.f 1st April 2021
MCA has made certain changes in the financial reporting framework prescribed under Division I of Schedule III of the Companies Act, 2013. These changes are applicable w.e.f April 1, 2021.
Acceptance Of Deposits: Section 73 to 76 of the Companies Act 2013
Deposit is one of the sources available with a company to raise funds for meeting its short term and long-term fund requirements. Section 73 to 76 of the Companies Act 2013 regulate the invitation and acceptance of deposits.
Income tax on Salary under New income tax Section 115BAC and Old Scheme of taxation
Budget 2020 introduced a new scheme of taxation u/s 115BAC for individuals and HUF, which they can choose from FY 2020-21. Let us compare the Income Tax on Salary under the New Scheme and the Old Scheme.
Compliance Calendar for the month of June 2021
This Article contains compliance requirements under various Statutory Acts for which the due date falls in the month of June 2021. Do note the same to avoid penalty, interest, or late fee.
New Labour Codes of India
As the new Labour Codes are expected to become effective in less than two months from now, some of the areas which will impact employers and employees have been listed in this article.
Section 194Q | An analysis
Any buyer who is responsible for paying any sum to any resident seller for the purchase of any goods of the value or aggregate of such value exceeding Rs. 50 lakh in any PY, is required to deduct TDS u/s 194Q w.e.f July 1, 2021.
Begin Your Journey In The Ever-Growing Domain Of Digital Finance And Banking
Digital Finance is now evolving beyond academic discussions. Financial leaders are understanding the tremendous potential of this sector.
Dont Wait to Get Started while Investing
Time after time, people of even modest means reach financial security and all that it promises i.e. buying a home, educational opportunities for their children, and comfortable retirement. If they can do it, so can you!
Section 194Q vs Section 206C (1H) of The Income Tax Act, 1961
Section 206C(1H)/194Q states that sellers/buyers must collect TCS/TDS for the sale of any goods of the value or aggregate of such value exceeding INR 50 lakhs in any PY from the buyer/seller.
TDS/TCS at higher rates in case of non-filers of ITR: Section-206AB & 206CCA
With effect from July 1, 2021, a person will have to pay TDS/TCS at a higher TDS/TCS rate if he/she has not filed Income Tax Returns for the last two years and has aggregate TDS/TCS credit of Rs. 50,000 or more in each of the two years.
Popular Articles
- TCS Return Due Date: New Deadline For Tax Year 2026-27
- How Salaried Employees can save Tax under the New Tax Regime
- TDS Certificates for Non-Salary Income Gets a New Identity For FY 2026-27
- Sukanya Samriddhi Yojana 2026 with Interest Rate for Q2: Best Savings Scheme for Girls
- Capital Gains Exemption Under Sections 54 & 54F: Is Purchase in Spouse's Name Allowed?
- Form 130 Replaces Form 16: New Salary TDS Certificate For FY 2026-27
- TDS Quarterly Return on Non-Salary 2026: Know How To File With New Form 140
- 143(2) Scrutiny Notice Received: What is it and How to Respond Online?
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