Articles by Damandeep Singh

14 Key Points on Ind AS 16 Property, Plant and Equipment (PPE)

Posted by Damandeep Singh 27 December 2020 156540 Views

Ind AS-16 deals with the accounting and depreciation of property, plant, and equipment, which are covered by the corresponding AS-10. Scope. Meaning of Plant, Property and Equipment (PPE), Recognition Principle, Component-Based Accounting, Initial Cost for Recognition, Subsequent Cost, Exchange for Non-Monetary Assets discussed.

An Overview of Cash Transaction Limits & Restrictions

Posted by Damandeep Singh 30 November 2020 52282 Views

In this article, I have tried to give a brief overview w.r.t. cash transaction limits put in by government under the Income Tax Act and GST law along with penalty for transacting in cash over and above a certain threshold.

Ind AS-115: The New Standard for Revenue Recognition

Posted by Damandeep Singh 02 March 2019 37063 Views

Ind AS-115 notified on 28.03.2018 by the Ministry of Corporate Affairs, effective from 01.04.2018.Ind AS-115 provides single comprehensive framework to be used ...

Bird's Eye View of GST Returns

Posted by Damandeep Singh 30 July 2017 8149 Views

India is rapidly moving towards its biggest Indirect Tax reform, the implementation of Goods & Services Tax (GST). In current economic environment, there is

The Panama Papers: Things Explained in a Nutshell

Posted by Damandeep Singh 17 June 2016 28224 Views

"The Panama Papers Leak� these days this is the most running hot news on newspapers, TV channels, Internet & all other sources of media. Everyone wants to know, what it is all about, mostly due to the names of personalities being asso

Capital Gains: Few Basics that you should Know

Posted by Damandeep Singh 13 November 2015 12871 Views

Capital Gains is the 3rd Head of Income described under Income Tax Act, 1961 and provisions relating to it are given from Sec. 45 to 55A. Capital gains refers to profits & gains on transfer of any capital asset. Meaning of Capital AssetIn genera

GST: Things you Need To Know

Posted by Damandeep Singh 22 January 2015 52709 Views

One of the major Indirect Tax reforms that India is going to face is in form of Goods & Services Tax (GST), which will replace the current Multiple Indirect Tax regime. GST is being debated over in India for about more than a decade and it has go

Invest: Why & Where ?

Posted by Damandeep Singh 07 January 2015 22362 Views

The world of money has seen some bizarre times over the past few years. It all started in 2006, when housing bubble in the US burst. This in turn led to the credit crisis, which was of an unprecedented scale. Then, followed the series of bailout prog