The objective of this Standard is to prescribe the accounting treatment for income taxes. The principal issue in accounting for income taxes is how to account for the current and future tax consequences of: (a) the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognised in an entity’s balance sheet; and …
What is advance tax? “Advance Tax” name itself suggests the tax that’s to be paid up in advance. Advance tax means income tax should be paid in advance rather than lump sum payment at year end. it’s also referred to as “pay as you earn tax”. These payments need to be made in instalments as …
India is one of the largest countries in the world and businesspersons here have many ideas they can put in practice by starting companies. In the past few years, the number of startup companies has started picking up in India thanks to these ideas which usually come from young entrepreneurs. In this article, our company …
A forensic audit is an examination and evaluation of a firm’s or individual’s financial records to utilize it as evidence in the court of law or legal suits. It serves as a backing to prove a fraud in the business in an apparent risk prone environment. Forensic audits have requirement of the expertise of accounting …
The entire economy of the nation is stagnant due to the current lockdown announced by the ruling in order to protect people from the COVID-19 pandemic. All the government authorized regulatory bodies are doing their best in providing relief to the individuals residing in India. One such organization is the Ministry of Corporate Affairs (MCA) …
Basis of e-campaign:The Campaign ending on 31st July, 2020 will emphasize on assessees/ taxpayers who have either not filed the returns or have discrepancies/deficiency in their returns for the FY 2018- 2019.The Campaign promotes voluntary compliance to facilitate tax payers to validate online their tax/ financial transaction information available with Income Tax department for FY …
Labor laws of India are almost almost like laws in the other country. India offers lot of potential for outsourcing IT functions, KPO and BPO operations due to availability of highly skilled and economical resources. So whenever someone cares fixing a subsidiary in India, the primary question is about labor laws in India. during this …
While total financial independence isn’t a simple goal to succeed in , most of the people wish to a minimum of to spend their lives without struggling for creating their ends meet. Financial planning could assist you in meeting your long-term goal, however, you would like to place the plan into effective action. Here during …
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION No. 35/2020–Central Tax New Delhi, the 3rd April, 2020 G.S.R. 235(E).-In exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with section 20 of the Integrated …
