CAclubindia Articles

ITC Under GST: Meaning, Eligibility & Conditions

Rajagopal K 28 June 2025 at 14:17

Input Tax Credit (ITC) is one of the core features of the Goods and Services Tax (GST) system in India. It allows registered taxpayers to reduce their tax liabi..

Compulsory Maintenance of Accounts - Section 44AA

Jatin Pal 28 June 2025 at 10:25

A question is, can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of Section 44AD?

Assessments under GST Law: A Comprehensive Overview

Pratik Dhruve 28 June 2025 at 08:31

Section 2(11) of the CGST Act defines "assessment" as the determination of tax liability under the Act, and it includes self-assessment, re-assessment, provisional assessment, summary assessment, and best judgment assessment.

Foreign Liabilities and Assets (FLA) Return under FEMA

Affluence Advisory 28 June 2025 at 08:27

This article breaks down the FLA reporting process, explaining the legal framework, required disclosures, practical compliance issues, and potential consequences of non-compliance.

Key Features Of Faceless Assessments Scheme

Khush Trivedi 27 June 2025 at 16:05

Discover the key features of the Faceless Assessment Scheme introduced by the Income Tax Department, aimed at enhancing transparency, reducing human interface, and ensuring uniformity in tax assessments across India.

Earned Rs 1.2 lakh intraday, Rs 2.5 lakh STCG from Stocks. Do I Need to File ITR in AY 2025-26?

Chaitra Seetharam 27 June 2025 at 12:34

Intraday describes trading actions or market movements that happen within one trading session, from market open to close. It applies to stocks, forex, commodities, and cryptocurrencies, where traders buy and sell assets within the same day.

How AI Helps Small Businesses Grow Smarter

workspacetool.com m 27 June 2025 at 08:36

If you're a small business owner and trying to do it all, this article is for you. AI can make your life easier by helping your business grow faster and smarter.

Legal Framework of Faceless Assessments & Appeals

Khush Trivedi 26 June 2025 at 17:44

Faceless assessment is managed entirely through the National Faceless Assessment Centre (NFAC) and 4 types of functionally specialized units

Faceless Assessments & Appeals: Reforming Tax Administration

Khush Trivedi 26 June 2025 at 17:24

IntroductionThe Income Tax Act, 1961, lays down a comprehensive mechanism for assessing an individual’s or entities taxable income and determining their c

Are Co-operative Societies Liable Under GST?

sahakari .net 26 June 2025 at 10:36

Supply of service or goods provide to the members by a co-operative society registered under any co-operative law will not come under the provisions of the GST Act. Why? We shall look into the statutory provisions of the law and the Constitution of India.