Articles by CA Sanat Pyne

Navigating Revenue Recognition: A Comprehensive Guide to IND AS 115

Posted by CA Sanat Pyne 25 June 2024 558 Views

The core principle of IND AS 115 is that revenue should be recognized to reflect the transfer of promised goods or services to customers in an amount that represents the consideration to which the entity expects to be entitled.

Blocked Credit under GST

Posted by CA Sanat Pyne 18 March 2024 52648 Views

Blocked credit refers to the input tax credit that cannot be claimed by a taxpayer under the GST regime. Input tax credit is the tax paid on inputs, i.e., goods and services that are used in the course of business, which can be set off against the output tax liability of the taxpayer.

Advance Tax Payment

Posted by CA Sanat Pyne 14 March 2024 6636 Views

Advance tax is a tax that needs to be paid in advance on estimated income, in contrast to the regular tax paid at the end of the financial year. In this article, we will cover the basics of advance tax, including the procedure for calculating and paying it.

Understanding IND AS 32: A Guide to Financial Instruments Presentation

Posted by CA Sanat Pyne 24 August 2023 31460 Views

The purpose of IND AS 32 is to provide transparent and relevant information about financial instruments to stakeholders, including investors, lenders, and regulators.

Nature of Limited Liability Partnership (LLP)

Posted by CA Sanat Pyne 28 July 2023 22554 Views

NATURE OF LIMITED LIABILITY PARTNERSHIP (LLP) 1. Concept of limited liability partnership LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.

Corporate Litigation: The Crucial Role of Board Oversight and Auditor's Responsibility

Posted by CA Sanat Pyne 02 May 2023 2721 Views

Corporate litigation refers to the legal disputes that arise between a company and another party, such as customers, shareholders, employees, suppliers, or regulators.

Understanding Collective Bargaining in India: Legal Framework, Process and Case Studies

Posted by CA Sanat Pyne 01 May 2023 15598 Views

Collective bargaining is a process of negotiation between employers and employees, typically represented by a union, to determine the terms and conditions of employment.

Pros and Cons of Employee Moonlighting: A Comprehensive Guide for Employers

Posted by CA Sanat Pyne 29 April 2023 17958 Views

Employee moonlighting refers to the practice of employees working a second job or engaging in additional paid work outside of their primary employment. It's a relevant and important topic because it affects both employees and employers.

Understanding Intellectual Property Rights: An Overview

Posted by CA Sanat Pyne 27 April 2023 2136 Views

Intellectual Property Rights (IPR) are a set of legal rights given to individuals or entities who create or innovate in the fields of arts, literature, inventions, trademarks, and designs.

An Overview of IND AS 41

Posted by CA Sanat Pyne 25 April 2023 8157 Views

IND AS 41 is a standard issued by the Institute of Chartered Accountants of India (ICAI) that provides guidance on the accounting treatment for agricultural activity. The objective of IND AS 41 is to ensure that the financial statements of entities engaged in agriculture provide relevant and reliable information about their agricultural activities.