A well appreciated and welcome decision from the Apex Court in which court held that the object of Chapter XVII, which is intituled as "OF PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS" and contains Sections 138 to 142, is to promote the efficacy of banking operations and to ensure credibility
In a recent judgment, the Supreme Court of India, while keeping up the efforts of plugging various loopholes in the Insolvency & Bankruptcy Code, 2016 ("Code"), decided an interesting legal issue relating to the scope of Section 5(20) of the Code, which provides the definition of "operational creditor".
The applicability of RCM on Freight has brought a great deal of confusion for some people in understanding exactly in what situations the RCM liability under Section 9 (3) of the CGST and SGST Act and under Section 5 (3) of the IGST Act
Companies have been granted a year to implement the Ministry of Corporate Affairs' latest change in accounting software to use the audit trail (edit log) feature. The audit trail will be mandatory for private limited firms starting April 1, 2022, according to a decision made this year.
US CPA is one of the most lucrative careers in the accounting field. It is globally recognized and opens up new career possibilities. The best thing about it is that anyone can become a US CPA, provided you meet certain minimum qualifications. Read on further to know about his journey of becoming the top scorer in the US CPA exam.
When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capital asset is waived in a year subsequent to the year of acquisition,
Health insurance is a state subject which is not been given its due. According to a report of NitiAyogIndia has nearly 30% or 42 crore of its population devoid of any health insurance with actual numbers being higher due to gaps in the existing scheme and overlap between the schemes
The huge cost incurred in the acquisition of a house is bad but a massive loan spanning over the majority of a person's life isn't any better. This is why today, we explore the financial journey of buying a home without a loan.
A 'going concern sale' on an 'as is where basis' does not dissolve the corporate debtor, rather, it forms a part of the liquidation estate wherein the entire business, including assets and liabilities, including all contracts, licences, concessions, agreements, benefits, privileges, rights, or interests, is transferred to the purchaser.
Unit Linked Insurance Plan (ULIP) is a mix of insurance along with investment. From a ULIP, the goal is to provide wealth creation along with life cover where the insurance company puts a portion of your investment towards life insurance and rest into a fund that is based on equity or debt or both and matches with your long-term goals.
CAclubindia
