LLPs must comply with statutory requirements such as Annual Return, Income Tax Return, Profit and Loss Account, and Balance Sheet, even if they do not conduct any business activities. Similar to companies, LLPs must maintain their financial year from 1st April to 31st March.
In this article, we will discuss statutory provisions involved and things to be taken care of while doing compliance of this Section.
IND AS 19 is a standard that deals with employee benefits. It requires companies to account for their obligations towards employees, such as pensions, gratuity, and other post-employment benefits. In this article, we will explore IND AS 19 in detail.
The term "business structure" refers to the legal framework that governs an organization within a specific jurisdiction. It defines the rights and responsibilities of the company and its owners, including the ability to raise capital, assume liabilities, and pay taxes.
Frequently Asked Questions (FAQs) on IND AS 10
IND AS 16 is a standard that sets out the accounting treatment for property, plant, and equipment. It provides guidance on the recognition, measurement, and disclosure of such assets.
In this article, we will discuss the step-by-step process to apply for an FCRA license.
IND as 7 refers to the Indian Accounting Standard (IND AS) 7, which is the standard that provides guidance on how to prepare and present cash flow statements.
The Indian Accounting Standards (IND AS) were introduced in India in 2015, to bring greater transparency and consistency to financial reporting. One of the key standards is IND AS 1 - Presentation of Financial Statements.
IND AS 1 is the Indian Accounting Standard that sets out the rules for the presentation of financial statements.