Commercial substance means that the risks and cash flows associated with one asset would differ from those of the other asset. Let us discuss the IAS: PPE - Lack of Commercial Substance.
Slump sale means the transfer of one or more undertaking, by any means, for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales.
As per Rule 17 of the Foreign Contribution (Regulation) Rules, 2011, every person who receives foreign contribution under FCRA shall submit a signed or digitally signed report in Form FC-4 for every FY.
The Finance Act, 2020 abolished DDT and moved to the classical system of taxation wherein dividends are taxed in the hands of the investors. Let us discuss the tax treatment for the same.
Section 206AB and 206CCA were introduced in the Finance Bill 2021. They provide for a higher deduction of TDS and TCS respectively, if certain conditions are met.
Generally, salary is considered as a fixed payment from an employer to an employee. However, the term 'salary' has a larger scope. Let us discuss the term 'salary' in this article.
In small to mid-sized firms, audits are carried out by article trainees, new paid audit assistants without properly meeting the Standards for Auditing set out by ICAI. Hence, it is very important to know where to apply these standards and the relevance of such standards.
Can a Chartered Accountant apply for Government Jobs? - The answer is YES!! But, what is the scope of a CA in the Government Sector? Read the article to know all about it!
The intention of section 194Q is to widen and deepen the tax base. In order to do the same, it is proposed to levy a TDS of 0.1% on purchase transactions exceeding Rs. 50 lakhs in a year.
The Council made certain key recommendations on changes in GST rates on the supply of goods and services and changes related to GST law and procedure GST Law and procedures.
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