CAclubindia Articles

Cash Flow Management during a Pandemic

CA MAYANK GOEL 05 May 2020 at 10:06

As if managing cashflows wasn't already a difficult task for a business, the Corona Virus (COVID-19) Pandemic has made this even more challenging. Here are a few ways by which we can manage our cash flows more effectively.

Role of Internal Auditors in ERP development for Business Firms

Mohanish Shah 05 May 2020 at 10:06

As many organizations have initiated with acquainting with system based processing, the development of a well-regulated system is inevitable. System development may be through customized ERP or standardized ERP, depends on the structure of the working environment

How to correct mistakes of GST challan through Form GST PMT 09?

CA Umesh Sharma 05 May 2020 at 10:05

Conversation between Krishna and Arjuna of GST. Krishna as always is trying to clear the clouds for Ajuna and show the path ahead. In this conversation, Krishna is telling Arjuna about how one can correct his mistakes of GST challan through Form GST PMT 09.

Tax Audit- Section 44AB of the Income Tax Act

CA RAHUL JAIN RJ 05 May 2020 at 10:04

A Tax Audit is an audit, made compulsory by the Income Tax Act if the annual gross turnover/receipts of the assessee exceed the specified limit.The Finance Act 2020 has made amendment in section 44AB by inserting a proviso in clause (a) of Section 44AB. As per the new proviso, the tax audit turnover limit would be INR 5 Crores

Checklist and procedure for registration u/s 12A and 80G of Income Tax Act

Sandeep Rawat 05 May 2020 at 10:04

Section 10(23C) exempts income received by any person on behalf of the university, or other educational institution or any hospital. Section 11 provides an exemption in respect of income derived from property held under trust wholly for charitable or religious purposes.The prior requirement for getting registration under section 80G is obtaining registration under Section 12A

Changes in NGO registration under Income Tax

Sandeep Rawat 05 May 2020 at 10:04

It may be mentioned that certain provisions of the Act provide that an exempt entity may accept donations or certain sum for utilisation towards their objects or activities in respect of which the payer, being the donor, gets deduction in computation of his income.