CAclubindia Articles

Amendments In Income Tax Act 1961 through Finance Act, 2024

Suyash Raj Nahata 30 August 2024 at 09:00

The Finance (No. 2) Bill, 2024 was presented by the Hon'ble Finance Minister (FM) Nirmala Sitharaman on 23 July 2024. While moving the Bill for approval by the Lok Sabha on 7 August 2024, the FM introduced amendments to FB (No, 2) 2024 (Amended Bill) and the bill was passed on 16th of August, 2024 in form of THE FINANCE (No. 2) ACT, 2024.

Impact of New GST Registration Rules on Startups

Ishita Ramani 30 August 2024 at 08:48

This article examines how the new GST registration regulations will affect startups, highlighting the advantages as well as the difficulties.

Introduction of RCM Liability/ ITC statement

Affluence Advisory 30 August 2024 at 08:45

A statement called RCM liability/ ITC statement has been introduced on GST portal.

Essential Income Tax Deadlines for September 2024

Sachin 30 August 2024 at 08:43

Tax planning is vital for effective financial management and avoiding penalties. The income tax department has outlined crucial deadlines for September 2024.

Filing Belated Income Tax Return & Common Reasons for Delayed Filing

Sachin 29 August 2024 at 08:39

You can file a belated Income Tax Return (ITR) if you missed the original deadline of July 31. The deadline to file a belated ITR is December 31 of the assessment year.

Case Study: Change in Accounting Estimates And Errors Reporting

FCS Deepak Pratap Singh 29 August 2024 at 08:39

In the given case, the retrospective restatement has no effect on the information in the balance sheet at the beginning of the preceding period (i.e., 1st April 2021). Therefore, PQR Ltd. is not required to present a third balance sheet.

Valuing Securities Using the Option Pricing Method

ValuGenius Advisors LLP 28 August 2024 at 14:17

The option pricing method (OPM) is a widely used approach for allocating equity value to various securities within the intricate capital structures of privately held companies.

IBBI's New Proposal: Streamlining MSME Resolution with Registration and Disclosure Reforms

CS Peer mehboob 28 August 2024 at 14:09

On August 23, 2024, the Insolvency and Bankruptcy Board of India (IBBI) introduced a discussion paper proposing crucial amendments to the IBBI(Corporate Insolvency Resolution Process) Regulations, 2017 (CIRP Regulations).

Case Study: Revenue Recognition

FCS Deepak Pratap Singh 28 August 2024 at 08:41

The entity ABC is a public limited company domiciled in India. The Government of India holds 52% in the paid-up equity capital of the company as of 31st March, 2023

Potential Changes in GST Slabs: 12% vs 18% GST Slabs

Sachin 28 August 2024 at 08:35

A ministerial group is thoroughly reviewing GST rates in the 12% and 18% brackets. Decisions on potential changes are expected by the end of September.