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Changes in allowed partnership remuneration and TDS on payment to Partners in case of Partnership firms

CA Saurabh Khullar02/08/2024

by CA Saurabh Khullar02/08/202401749

In the Finance Bill (No.2) 2024, the amendments have been made for the taxation of the Partnership firms. In the first instance, the provisions of section

Income Tax Latest

Budget (No. 2) 2024 updates – Increase in the standard deduction for salaried individuals

CA Saurabh Khullar01/08/2024

by CA Saurabh Khullar01/08/20240583

For the salaried persons, there has been a demand for the increase in the benefits to the individuals from a very long time. After the

Income Tax Latest

Download Finance Bill (No. 2) 2024 and Memorandum explaining the provisions in Finance Bill

CA Saurabh Khullar01/08/2024

by CA Saurabh Khullar01/08/20240798

The first Union Budget for Modi 3.0 Government has been presented on 23rd July 2024. To download the Finance Bill and Memorandum explaining the provisions

GST Latest

Recommendations of 53rd GST Council Meeting

CA Saurabh Khullar23/06/2024

by CA Saurabh Khullar23/06/20240528

The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today. The meeting

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Cabinet portfolio of Modi 3.0 Government

CA Saurabh Khullar10/06/2024

by CA Saurabh Khullar10/06/20240599

The President of India, as advised by the Prime Minister, has directed the allocation of portfolios among the following members of the Union Council of

Income Tax Latest

Income tax update – Amended in Form 27Q

CA Saurabh Khullar31/05/2024

by CA Saurabh Khullar31/05/20240631

The Central Board of Direct Taxes (CBDT) has amended the Form 27Q by inserting the Note 7A under the head “Verification”. The notification reads as

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Information System Audit – Assessment test on 13th July 2024

CA Saurabh Khullar29/05/2024

by CA Saurabh Khullar29/05/20240983

The Institute of Chartered Accountants of India (ICAI) has issued the announcement on 29th May 2024 in which it has been stated that the Assessment

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CPE hours requirement for Chartered Accountants from 01-01-2024 onwards

CA Saurabh Khullar29/05/2024

by CA Saurabh Khullar29/05/202402884

With effect from 01-01-2024, the norms for CPE hours have changed for the CA members. The basic requirement for the CA members with respect to

Income Tax Latest

Cost Inflation Index for FY 2024-25

CA Saurabh Khullar25/05/2024

by CA Saurabh Khullar25/05/20240710

The Ministry of Finance has notified the Cost Inflation Index for FY 2024-25, which is 363. Financial Year Cost Inflation Index 2001-02 (Base year) 100

Students Section

Announcement of Dates for CA Foundation and CA Inter September 2024 dates

CA Saurabh Khullar19/05/2024

by CA Saurabh Khullar19/05/20240654

In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce

Students Section

ICAI announces launch of self placed modules test (SPMT) portal for CA Final examinations

CA Saurabh Khullar19/05/2024

by CA Saurabh Khullar19/05/20240667

The Examination Department of ICAI has launched Self-Paced Module Test (SPMT) Portal – https://spmt.icai.org for the candidates who have completed prescribed learning hours for respective

Students Section

ICAI announces applicable publications for CA Foundation and CA Inter for September 2024 examinations

CA Saurabh Khullar19/05/2024

by CA Saurabh Khullar19/05/20240717

The Institute of Chartered Accountants of India has announced applicable publications for CA foundation and CA Inter which are relevant for September 2024 examinations. FOUNDATION

Students Section

Mock Test Papers Series – II & Series III for Students appearing in CA Foundation June 2024 Examinations

CA Saurabh Khullar19/05/2024

by CA Saurabh Khullar19/05/20240740

The Board of Studies is commencing Mock Test Papers Series – II & Series III from 22nd May, & 5th June, 2024 for Students appearing

Blogs Income Tax Latest

Understanding the Assessment year and Previous year

CA Saurabh Khullar19/05/202419/05/2024

by CA Saurabh Khullar19/05/202419/05/202401254

In Indian income tax laws, understanding the concepts of the assessment year (AY) and the previous year (PY) is crucial for taxpayers to correctly determine

Blogs Income Tax Latest

All about the New tax regime for AY 2024-25

CA Saurabh Khullar17/05/2024

by CA Saurabh Khullar17/05/202401019

The Income tax department has released the utilities and forms for the filing of Income tax returns for the AY 2024-25. For the filing of

Income Tax Latest

Circular 7/2024 – Income Tax || Extension of due date for filing of Form No. 10A/10AB under the Income tax act

CA Saurabh Khullar28/04/2024

by CA Saurabh Khullar28/04/20240806

The Income Tax Department vide circular dated 25th April 2024 has extended the due date for filing of Form No. 10A/10AB till 30-06-2024. The due

Income Tax Latest

Circular 6/2024 – Income Tax || Extension of date for PAN become operative in case of non deduction of TDS at higher rates

CA Saurabh Khullar27/04/202427/04/2024

by CA Saurabh Khullar27/04/202427/04/20240663

The Income Tax Department has issued the Circular No. 6/2024 dated 23rd April 2024 in which it has been stated that the Department shall not

Students Section

Commencement of Live Virtual Classes (LVC Batch – 2) under the New Scheme from 27th April 2024 for the students of CA Foundation/Intermediate/Final courses appearing in September/November 2024 examinations

CA Saurabh Khullar27/04/2024

by CA Saurabh Khullar27/04/20240909

Board of Studies announces the commencement of 2nd Batch of ‘Live Virtual Classes’ under the New Scheme of Education and Training. To handhold and support

Students Section

Re-opening of online empanelment of members to act as Obervers for May / June 2024 examinations

CA Saurabh Khullar27/04/2024

by CA Saurabh Khullar27/04/20240750

The Institute of Chartered Accountants of India (ICAI) has decided to reopen the online empanelment of members to act as observers at the examination centres

Students Section

Mock Test Papers Series – I for Students appearing in CA Foundation June 2024 Examinations

CA Saurabh Khullar27/04/2024

by CA Saurabh Khullar27/04/20240855

The Institute of Chartered Accountants of India (ICAI) has announced the mock test paper series – I for the students appearing in June 2024 examination

Students Section

ICAI – Cut-off date for enrollment in Foundation /Intermediate Course for appearing in September 2024/ January, 2025 Examinations

CA Saurabh Khullar27/04/2024

by CA Saurabh Khullar27/04/20240729

The Institute has decided that from May/June 2024 onwards, Intermediate & Foundation course Examinations will be held thrice in a year in the month of May/June, September and

GST Latest

GSTN advisory – Enhancement in GST portal

CA Saurabh Khullar27/04/2024

by CA Saurabh Khullar27/04/20240608

Dear Taxpayers, 1. GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is

GST Latest

Extension of due date of gstr1 of March 2024

CA Saurabh Khullar11/04/202411/04/2024

by CA Saurabh Khullar11/04/202411/04/20240824

Due to the technical difficulties being faced while filing the GSTR1 for March 2024, the GST Tech (@Infosys_GSTN) has given the recommendation to CBIC to

Income Tax Latest

CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims

CA Saurabh Khullar11/04/2024

by CA Saurabh Khullar11/04/20240637

The Central Board of Direct Taxes (CBDT) has clarified on 8th April 2024 where it has been clarified that no special drive to re-open the

Income Tax Latest

Press release – Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024

Team Taxcharcha04/04/202404/04/2024

by Team Taxcharcha04/04/202404/04/20240590

The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial