It is a common understanding that an obligation file the return of income under the income-tax Act arises only if the income exceeds the maximum amount not chargeable to tax or when a person desires a loss sustained by him to be carried forward in future. For example, an individual tax payer is not ..
Why opt for Chartered Accountancy?
There are a lot of interesting career options one can consider after completing school or college and Chartered Accountancy is one of them. It's considered as one of the most reputed and well paid profession in India. Over the years, the Chartered Accountanc..
• Annual Return was Inserted vide Notification No. 39/2018-Central Taxes Dated 04.09.2018 which was supposed to be filled on the basis of data filed in the Returns only
• Thereafter Annual Return was Substituted vide Notification No. 74/2018- Central Tax Dated 31...
When a company acquires certain types of Tangible Asset under Ind AS 16, it sometimes has an obligation to remove these assets after the end of their useful lives and restore the site or sometimes, the legislation requires a company to remove the plant and restore the site after the end of its usefu..
GDP - Gross Domestic Product
Gross Domestic Product (GDP) is the final value of all Goods and Services produced by a country in a particular period. GDP is widely used to measure any Country's economic growth.
A GDP always measures the value of all goods and services at their Market Price..
The concept of Significant Beneficial owner ('SBO') has created a turmoil in Corporate sector ever since it has been introduced under section 90 of Companies Act, 2013 which was substituted by section 22 of the Companies (Amendment) Act, 2017 and was notified on 13th June, 2018. The Government is ..
Non-Banking Financial Companies (NBFCs), often referred to as the “shadow banking system” are playing an increasingly important role in our country’s financial systems and their growing influence on our nation’s economy is clearly visible in the Union Budget 2019-20 also as a..
ACCA (the Association of Chartered Certified
Accountants) is the global body for professional accountants,
offering business-relevant, first-choice qualifications to people of
application, ability and ambition around the world who seek a rewarding career
in accountancy, finance ..
The CBIC has issued GST audit Manual 2019 after
approval by the Board. The Board vide its letter F. No. 221/03/2013 - CX-6 dated August 30, 2018 requested to Directorate General to prepare a manual on Audit in GST for the consideration of the Board. The said GST audit manual co..
As per Section 89 of the Companies Act, 2013
'89. (1) Where the name of a person (includes artificial person as well) is entered in the register of members of a company as the holder of shares in that company but who does not hold the beneficial interest in such shares, such person shall make..