CAclubindia Articles

Form 15CA and 15CB: Streamlining Remittance of Money to NRIs

CA Arun Tiwari 23 February 2024 at 14:21

This article aims to provide a comprehensive overview of Form 15CA and 15CB, shedding light on their significance and usage in the remittance process for NRIs.

Posted in Others | 48 Views

CBDT issues order giving effect to the Budget proposal of remitting petty tax demands

VIVEK JALAN 23 February 2024 at 14:21

In the Interim Budget 2024-25, The finance minister proposed to withdraw direct tax demands up to INR 25000 pertaining to the period up to tax year 2009-10 and up to INR 10000 for tax years 2010-11 to 2014-15.

Posted in Income Tax | 33 Views

Section 148A Notice: Dangerous as Ak-47 Riffle in the hands of AO - Beware

CA. Chikkerur C R 23 February 2024 at 10:33

Section 148A of the Income Tax Act, 1961, pertains to the issuance of notices for assessment or reassessment in certain cases. It is as dangerous as the AK-47 rifle in the hands of the Department if we wrongly respond to this notice. Be Careful!

Posted in Income Tax | 126 Views

What are the ways to reduce your income tax?

Ishita Ramani 23 February 2024 at 08:44

This article will give you information on "How to Minimize Income Tax".

Posted in Income Tax | 420 Views

The 45 Day Payment Rule

Nikhil Kothari 23 February 2024 at 08:44

These days everywhere you see people are talking about the 45-day payment rule (MSME Section 43B (h)) but often people are more confused rather than convincing so let's understand this entire concept.

Posted in Income Tax | 192 Views

Is Stipend Taxable

Mitali 22 February 2024 at 16:00

A stipend is a sum of money paid to someone which are typically smaller than salaries and are provided to individuals to support them financially while they gain knowledge and experience through education, training, or specific positions.

Posted in Income Tax | 964 Views

Applicability of provisions to collect taxes at source ('TCS') on foreign payments

Affluence Advisory Pvt. Ltd 22 February 2024 at 14:37

Vide notification dated 16 May 2023, the government deleted the above-mentioned exception. It included the payments by use of an International Credit Card for making payment by a person towards meeting expenses while such a person is on a visit outside India within the ambit of LRS.

Posted in Professional Resource | 222 Views

Payments to MSME vendors

anmol bohra 22 February 2024 at 14:37

Section 23 of the MSMED Act provides that where the assessee is liable to make payments of interest under or in accordance with the provisions of the MSMED Act, no deduction shall be allowed to the assessee for such payments for calculating taxable income under the Income Tax Act.

Posted in Income Tax | 186 Views

Appeals and Review Mechanism under GST

Ashok Pitroda 22 February 2024 at 12:47

Appeal under any law is an application to a higher authority for a reversal of the decision of a lower authority. Appeals arise when there are any legal disputes. Here, we are discussing appeals under GST law.

Posted in GST | 1 comments | 906 Views

Demystifying Section 54F of the Income Tax Act

CA. Bhavik P. Chudasama 22 February 2024 at 09:47

Selling a capital asset, such as a commercial property or land, often results in substantial capital gains. While exciting, these gains come with the burden of taxation. Fortunately, the Income Tax Act offers solace in the form of Section 54F, which provides an avenue for exemption on long-term capital gains arising from the sale of non-residential assets.

Posted in Income Tax | 2 comments | 381 Views