CARO 2020 is a new concept for the issue of audit reports in case of statutory audits of companies under the Companies Act, 2013. It is applicable for all statutory audits commencing on or after 1st April 2020.
Any interruption in business operations caused by fire or other special perils, resulting in a financial loss of various kinds is called consequential loss.
Under the Atal Innovation Mission, the Government is setting up Atal Incubation Centres in the public and private sector as well as scaling up Established Incubation Centres.
A factoring business is a business where an entity acquires the receivables of another entity for an amount. However, credit facilities provided by a bank is not considered factoring business.
Under Section 89(1), relief is provided by the income tax department in relation to the amount received in advance or in arrears in the form of salary which is related to any other FY.
As per the provisions of section 149(1) of the Companies Act, 2013, every company shall have a Board of Directors consisting of individuals as directors.
Government has announced various relief measures for several sectors under the AatmaNirbhar Bharat Abhiyan and has taken a number of initiatives to support the MSME Sector in the country.
Cabinet approves continuation of Centrally Sponsored Scheme for Fast Track Special Courts for further 2 years. 1023 Fast Track Special Court (FTSCs) to continue, including 389 exclusive POCSO Courts.
GSTR 2A is a system-generated auto-populated eligible ITC statement or return, while Form GSTR-2B is an auto-drafted ITC statement that is static.
GSTR 2A and GSTR 2B are purchase-related auto-populated statements while GSTR 3B is a self-declaration summary return for both inward and outward supplies in a consolidated manner.
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