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.
An audit trail is a documented record of the sequence of activities and events that are associated with a specific transaction, process or system.
A wholly owned subsidiary is a company with 100% of its shares owned by another corporation, which is the parent company. A parent company can acquire a wholly owned subsidiary or create one through a split-off.
IND AS 1 is the Indian Accounting Standard that sets out the rules for the presentation of financial statements.
Top 10 Amendments in GST in February and March 2023
Section 129 talks about detention, seizure and release of goods and conveyance in transit where the intent of taxpayer is to evade tax payment.
After almost 19 years form the IPO of TCS in June, 2004, TATA Group has come up with the IPO of Tata Technologies, a subsidiary of Indian carmaker Tata Motors.
According to u/s 149(9) of companies act, an independent director shall not be entitled to any stock option and receive any remuneration by way of a fee provided under section 197 sub section 5, reimbursement of expenses for participation in a board and other meeting and profit related commission as may be approved by the members.
Public Provident Fund (PPF) is a highly sought-after investment option for building a long-term retirement fund due to its low risk, moderate returns, and added tax benefits
As per section 194 IA of Income tax Act, 1961, TDS is applicable on sale of immovable property, if the consideration of property exceeds or equal to Rs. 50,00,000/- (Rs. Fifty lakhs). The rate of tax under the above section is 1% which is to be deducted and need to be deposited by buyer.
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