Latest Articles
Comparative Analysis of Income Tax Appellate & Revisional Powers u/s 251, 263 & 264
Income Tax : Understand the differences between appellate powers u/s 251, revisional powers u/s 263, and 264 of the Income Tax Act, and how the...
Importance of Gift Deed in Property Transfer
CA, CS, CMA : A Gift Deed formalizes property transfer without monetary consideration. Learn its legal importance, registration process, and ess...
Intricacies of Section 74 to initiate Proceedings Under GST Law
Goods and Services Tax : Learn the intricacies of GST Section 74 for fraud or wilful misstatement cases, including limitations, proceedings, and taxpayer r...
Dearness Allowance (DA) calculation for PSU employees for Q3 2024-25 (Oct 2024 to Dec 2024)
Finance : Dearness Allowance (DA) for PSU employees for Q3 2024-25 increased by 2.9%, bringing the rate to 47.7%. Based on CPI data from Jun...
Mastering Depreciation: Exploring Formula Derivation & Accurate Application
CA, CS, CMA : Learn the correct way to calculate and apportion depreciation using the Written Down Value method for accurate scrap value over an...
Latest News
Last Date for MEF 2024-25 Submission Extended
CA, CS, CMA : ICAI extends MEF 2024-25 submission deadline to October 21, 2024. No further extensions. Visit MEF portal for queries or complaint...
Significant rise in DIR-3 KYC filings during FY 2024-25
Corporate Law : MCA notes a significant rise in DIR-3 KYC filings, reaching 22.98 lakh in FY 2024-25, surpassing the total filings of the previous...
ICAI Invites Suggestions for Comprehensive Review of Income-tax Act, 1961
CA, CS, CMA : ICAI calls for suggestions on simplifying the Income-tax Act, mitigating litigation, and reducing compliance burdens. Submit input...
ICAI Forms Group to Address Work-Life Balance for CAs
CA, CS, CMA : ICAI establishes a group to improve work-life balance and stress management for Chartered Accountants through workshops, wellness ...
ICAI Extends Membership/COP Fee Deadline to Dec 31, 2024
CA, CS, CMA : ICAI extends the last date for payment of Membership/COP fee for 2024-25 to December 31, 2024, due to technical issues with the KY...
Latest Judiciary
Landmark SC Judgment on TOLA & for 90000 Income Tax Reassessment cases
Income Tax : SC clarifies TOLA's application to Income Tax Act post-April 2021, covering reassessment notice deadlines and procedural timelines...
SC’s Landmark Ruling on GST: A Game-Changer for ITC on Construction Costs
Goods and Services Tax : Chief Commissioner of Central Goods and Service Tax & Ors. Vs Safari Retreats Private Ltd. & Ors. (Supreme Court of India)...
Advance Ruling Application Rejected: Query Not Covered Under Section 97(2) of CGST Act, 2017
Goods and Services Tax : Application by AKS Expo Chem for GST advance ruling rejected. Question not covered under Section 97(2) of CGST/WBGST Act, 2017. No...
GST Ruling on E-Commerce Operator Status for Yatri Sathi App
Goods and Services Tax : Explore the GST AAR ruling on whether Yatri Sathi App qualifies as an e-commerce operator in providing transportation services und...
GST on Baby Carrier with Hip Seat: 5% for Value ≤ ₹1,000 & 12% for Value > ₹1,000
Goods and Services Tax : Supply of Baby Carrier with hip seat as manufactured by the applicant shall be covered under HSN 6307 90 and would attract tax @ 5...
Latest Notifications
Responsibilities of Principal Auditor and Other Auditors in Group Audits
Company Law : NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibiliti...
Revision of rate of TDS deduction on Agents Commission w.e.f 01.10.2024
Income Tax : TDS on agents commission reduced from 5% to 2% as per the Finance Bill 2024. New rate effective from October 1, 2024, under Sectio...
RBI Issues Guidelines on Compounding FEMA Contraventions
Fema / RBI : RBI Circular No. 17/2024-25 outlines new guidelines for compounding contraventions under FEMA, emphasizing compliance for authoriz...
SEBI Enhances Equity Index Derivatives Framework for Investor Protection
SEBI : SEBI circular outlines measures to enhance investor protection and market stability in equity index derivatives, effective from No...
SEBI Updates Stress Testing Framework for Equity Derivatives
SEBI : SEBI's October 2024 circular revises stress testing methodologies for equity derivatives, enhancing credit risk assessment and Cor...
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FAQs
Understand Section 80C deductions of the Income Tax Act, eligible investments, and the limits for individuals and HUFs. Reduce tax liability with the right investments.
Learn how to calculate advance tax, payment deadlines, and exemptions. Find the steps for online payment and consequences of non-payment or delay.
This article delves into the provisions governing AGM extensions under the Companies Act, 2013, and explores key regulations, examples and best practices.
Discover the functionality of the Invoice Management System (IMS) in GST, including actions on invoices, ITC eligibility, and reconciliation processes for taxpayers.
Explore FAQs on the GST Invoice Management System (IMS), detailing its features, benefits, and usage for effective invoice management and GSTR-2B generation.