Experts : 3 Days Post

Displaying all posts within 3 days

Pranita Purohit

01 March 2026 at 15:54

Posted On : 01 March 2026

CSR Impact Assessment

If impact assessment expenditure incurred by a company be treated as part of CSR expenditure? or will it be over and above 2% expenditure obligation/

also maximum 5% cap on overhead expenses on CSR. if these overheads be treated as part of CSR Expenditure.

thus if this 2% Impact Assessment fees and 5% administration overheads is over and above legal CSR obligation of 2% of average net profit?

Aashok Kumar Sharma

01 March 2026 at 05:52

Posted On : 01 March 2026

In Reply To :

P&L and B/s Format for Public Companies

Public listed companies in India must use the standardized format prescribed under Division II of Schedule III of the Companies Act, 2013. This includes producing a Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Statement of Changes in Equity, all prepared in compliance with Ind AS and incorporating specific disclosures required by SEBI, such as promoter shareholding and ageing schedules for trade receivables.

Raj Patel

28 February 2026 at 19:53

Posted On : 28 February 2026

P&L and B/s Format for Public Companies

Hello Everyone,

Is there a standard format for Financial reports for listed companies?

Aashok Kumar Sharma

28 February 2026 at 17:30

Posted On : 28 February 2026

In Reply To :

Regarding Change in Signature before applying for membership

You can definitely change your signature now, but you should treat it as a formal "rebranding" of your identity. To avoid future hurdles, follow this sequence:

Draft a Notarized Affidavit for the signature change.

Submit the new signature to ICAI with the required attestation (if it differs from articleship records).

Update your Bank Specimen and PAN Card (if possible) to ensure your professional and financial identities match.

Aashok Kumar Sharma

28 February 2026 at 17:29

Posted On : 28 February 2026

In Reply To :

Capital contribution of Land into SPV for Specific project attracts Income Tax & why ?

The transfer of land (held as inventory) into an SPV in exchange for shares is a taxable business transaction. You will likely be taxed on the difference between your acquisition/development cost and the Fair Market Value (or Stamp Duty Value) of the land at the time of transfer. Slump sale benefits are difficult to claim if the "undertaking" is not yet operational.

CA R SEETHARAMAN

28 February 2026 at 16:29

Posted On : 28 February 2026

In Reply To :

USE THE BANK ACCOUNT OF WIFE

No interest can be levied in such a case.

Dhirajlal Rambhia

28 February 2026 at 15:03

Posted On : 28 February 2026

In Reply To :

Households luggage

My pleasure.

Rajkumar Gutti

28 February 2026 at 12:24

Posted On : 28 February 2026

In Reply To :

Households luggage

Ok, sir, धन्यवाद. I am fully satisfied.

Challa.Praveen kumar

28 February 2026 at 11:49

Posted On : 28 February 2026

Capital contribution of Land into SPV for Specific project attracts Income Tax & why ?

Need Tax opinion,Our business model is to buy land, convert it to non Agricultural land, develop a solar park by taking approval from govt and sell the full project(EPC+ land) to different customers, we treat such land as inventory. We completed 1 solar park earlier. For our 2nd project, we bought land but due to operational issues we couldn’t start EPC and now we are planing to setup SPV and transfer this land including appovals taken as a capital. Want to understand the Tax implications on this transfer. 1.Whether this transfer is Taxable ? if yes then under what sec ? 2.If Taxable what should be the sale consideration (We receive shares in the SPV)? 3. Can this treated as slump sale or demerger ?

N D B

28 February 2026 at 10:51

Posted On : 28 February 2026

Regarding Change in Signature before applying for membership

I am a newly qualified Chartered Accountant and would like to change my signature before applying for membership.
Is it mandatory for my signature as a CA member to be the same as the one used in my government documents and bank records?
If I change my signature at this stage, will I also be required to update it across all my official documents and bank accounts?

Dhirajlal Rambhia

28 February 2026 at 10:23

Posted On : 28 February 2026

In Reply To :

Households luggage

If you are debiting it to employee's account as perquisite, then RCM not applicable. But if you are debiting it as freight (paid via employee's acc) RCM will apply.