CAclubindia Articles

Highlights of the amendments passed in the LLP Act, 2008 through the LLP (Amendment) Act, 2021

Shree 24 August 2021 at 12:31

The Act has converted certain offences into civil defaults. It has also defined small LLP, provides for the appointment of certain adjudicating officers, and establishment of special courts.

Concept of soft and hard market cycles under insurance

FCS Deepak Pratap Singh 24 August 2021 at 09:28

In a soft market, buyers have more bargaining and negotiation power while in a hard market the negotiation power of buyers is less as they are not in a position to quote their terms and conditions.

Restrictions imposed on travel abroad under Section 5(3)(F) of IBC, 2016

FCS Deepak Pratap Singh 24 August 2021 at 09:27

DRT does not have power to impound the passport of an individual and impose restrictions on his travel abroad. Any restriction of travel abroad will be violative of Articles 21 and 14 of the Constitution of India.

Business Continuity Planning (BCP) and its Importance!

vipul1994 24 August 2021 at 09:27

Business continuity planning establishes risk management procedures that aim to prevent interruptions to mission-critical services and re-establish full function to the organization.

Raksha Bandhan: Relation between seller and buyer under GST

CA Umesh Sharma 24 August 2021 at 09:27

A taxpayer should reconcile the purchases with sales shown by the seller i.e. Party wise reconciliation of all purchase transactions with GSTR-2A should be made.

All about CARO 2020

Tanuj Chandra Saxenaa 24 August 2021 at 09:27

CARO 2020 is a new concept for the issue of audit reports in case of statutory audits of companies under the Companies Act, 2013. It is applicable for all statutory audits commencing on or after 1st April 2020.

Some Facts Related To Consequential Loss (Fire) Policy Or Loss Of Profit Policy

FCS Deepak Pratap Singh 24 August 2021 at 09:27

Any interruption in business operations caused by fire or other special perils, resulting in a financial loss of various kinds is called consequential loss.

Incorporation of Incubators - Business Entrepreneurship

Tanuj Chandra Saxenaa 24 August 2021 at 09:27

Under the Atal Innovation Mission, the Government is setting up Atal Incubation Centres in the public and private sector as well as scaling up Established Incubation Centres.

NBFC widens the scope of entities which can engage in factoring business via Factoring Amendment Bill 2021

Tanuj Chandra Saxenaa 24 August 2021 at 09:27

A factoring business is a business where an entity acquires the receivables of another entity for an amount. However, credit facilities provided by a bank is not considered factoring business.

How to Calculate Relief u/s 89(1) of the Income Tax Act?

CA Deepanshu Sharma 24 August 2021 at 09:20

Under Section 89(1), relief is provided by the income tax department in relation to the amount received in advance or in arrears in the form of salary which is related to any other FY.