Cash has always been a facilitator of black money since transactions made in cash do not leave any audit trail. It is easy to hide the identity of the payer and receiver of cash making it difficult to trace the transaction and realise tax or other revenue legitimately due to the government.
CBIC issued a clarification on GST Refund related issues on 31.03.2020. The clarification covers bunching of refund claims across various years, guidelines for a refund of ITC, etc.
Due to disruptions caused by COVID-19, the ICAI has issued an accounting advisory for its members. In the accounting advisory issued by ICAI, it has highlighted 15 key areas that need to be considered during these challenging times.
Comparative Analysis of the old and modified LLP Settlement Scheme-2020
The ICAI made various announcements for students due to the outbreak of COVID-19. Here is the summary of all the important notifications issued by ICAI for CA Students.
Here are all the compliances related to Income Tax, GST, MCA. Find all the updates related to MCA Circulars, RBI Circulars, SEBI, and the relaxations granted due to the outbreak of COVID-19.
Becoming a Chartered Accountant is what every student taking up commerce starts her/his journey with. Wanting to become a successful CA not just ensures a secure career in terms of earning but also brings immense societal recognition and prestige with it.
Section 188 of the Companies Act 2013 deals with the Related Party Transaction. Here are the implications of related party transactions of a company.
Inventory Verification is undertaken by the companies at the year-end. Due to the outbreak of the COVID-19, the inventory verification process of various companies has been affected. Here is how the same can be dealt with.
As per Best judgment assessment under the income tax act, 1961 the AO, after taking into account all relevant material which he has gathered, is under an obligation to make an assessment of the total income or loss to the best of his judgment and determines the tax payable by the assessee.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English