Popular Articles
Income Tax Audit 2025: Businessmen and CAs Tension, Demand for Deadline Extension
With the September 30, 2025 Income Tax Audit deadline approaching, only 8% audits are done. CAs and traders demand deadline extension due to workload, delays and festivals.
What are the Consequences of Non-Filing of GSTR-1 on time?
In the world of Goods and Services Tax (GST), filing accurate and timely returns is crucial for every registered taxpayer. Timely filing of GST Return is equally important as there are severe consequences not only for the Registered Taxpayer who has missed the deadline but also for the recipient of supplies.
GST- A Broad Overview
Introduction of Goods and Service Tax (GST) will indeed be the next logical step towards a widespread indirect tax reforms in India since the introduction of Value Added Tax in 2005. The reference of GST was first made in
Recent amendments in Schedule III of Companies Act 2013
The Ministry of Corporate Affairs vide Notification dated 24 March 2021 has amended Schedule III to the Companies Act, 2013, which shall be effective from the 1st day of April 2021.
Is Current ratio adequate measure of liquidity?
Liquidity for any organisation is one the measure for its financial condition such as i. whether it will be a going concern in future, ii. how it will pay off it
Related Party disclosure under IFRS
Current business scenario, the related party relationship are normal feature of any business, It may be through subsidiaries, joint ventures and associates, these kind of business arrangements generally affect the b
Tax Deduction on Purchase of Immoveable Property
This provision is applicable on transfer of immoveable property of Rs. 50 lacs or more. It requires TDS to be deducted at 1% of the price being paid by the purchaser of an immoveable property, irrespective of quantum of capital gains. If the seller d
Real estate bill passed: Here are the benefits for home buyers
The much awaited Real Estate Bill was passed in Lok Sabha on Thursday, 10th March, 2016. The core objective of the bill is to protect the buyer�s interest and also to bring the transparency to the sector.The bill was presented in 2013 and amend
Transitional Provisions under GST
GST is a significant reform in the end of indirect taxes in our country. Multiple taxes levied and collected by the Centre and S
Issue of reversal of Input Tax Credit on Iron and Steel Goods
Question is:Whether in terms of Rule 21(8) reversal on the stock at the rate of 2.20% i.e. (4.95 minus 2.75 ) of the available Input tax credit on such closing stock should be made? Brief Facts are :Date of Notification of Reduced rate of VATNotifica
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