Guidelines for members to complete their CPE activities The Institute of Chartered Accountants of India has issued a notification u/s 15(2)(fa) of the Chartered Accountants Act, 1949 (as amended by… Read More
Deductions from Income from Other Sources: Section 57 Income from Other Sources includes incomes not classified under other heads like Salary, House Property, Business or Profession, & Capital Gains. Examples… Read More
Long-term capital loss on reduction of share capital, allowable The Mumbai Bench of the Income-tax Appellate Tribunal has provided an important ruling regarding the treatment of losses arising from the… Read More
Delay in registration of property cannot not be a ground to deny exemption under Section 54 & 54F: Question : Assessee sold vacant land in October/November 2016 purchased a house… Read More
FCRA Audit Guidelines for NGOs - Disclosure by CAs on violated any provisions of FCRA law The updated FCRA compliance guidelines will likely have significant implications for both NGOs and Chartered… Read More
Section 87A tax rebate is a significant relief for eligible taxpayers. The Income Tax Department's update regarding Section 87A tax rebate is a significant relief for eligible taxpayers. The Income Tax… Read More
Deduction for Bad Debts : explanation of Section 36(1)(vii) What is a Bad Debt? Bad debt refers to an amount owed to a creditor that is no longer collectible… Read More
New RBI norms make it tough to get multiple personal loans The Reserve Bank of India (RBI) has introduced a significant regulatory change requiring lenders to update credit bureau records… Read More
Mandatory Peer Review For Chartered Accountants firms in India The ICAI’s mandatory peer review process is an essential move towards ensuring the quality and integrity of audit practices in India.… Read More
GSTR-3B figures & GST Portal Issues/ Errors Encountered Duplicate Invoices in GSTR-2B: Issue: Duplicate invoices appeared in GSTR-2B for September and October 2024 due to a technical glitch in the… Read More