Objective and applicability date of IFRS 13- The objective of IFRS 13 Fair Value Measurement is to provide a single source of guidance to fair value measurement by incorporating many principles that already exist in other IFRSs and best practices from the IASB’s 2008 Expert Advisory Panel report.
Indirect Tax regime of the country with the implementation of GST is expected to see the drastic change. There are numerous grounds supporting such change and few of them are unified market Place , Reduced litigation , Better compliance management, Reduced operational cost, Seamless flow of credit etc.
Of late, the Information Technology made it practicable to have all kinds of meetings through Video Conferencing. Meetings through Video conferencing has telescoped the world and has made it look smaller than ever before. Now throughout the world, every Tom, Dick, and Harry is approachable just at a click of the mouse.
Jama kharchi is all about converting black money to white. Jama kharchi companies ‘accommodate’ accounting entries that help both the companies and give 2-4% commission to the go-between.
In the case of Tecnimont ICB House vs. DCIT, ITAT has held that Recovery of expenses beyond the normal period was in the nature of deemed loan in the hands of AEs and require transfer pricing adjustment.
1. Applicability All assesses except companies are liable to pay AMT if the tax payable under the normal provisions of income tax is lesser than AMT. In simple words, Tax payable under income tax < AMT However AMT is not payable by:- Individual HUF AOP/BOI Artificial Juridical person If the ADJUSTED TOTAL INCOME* OF SUCH […]
CONTRACT OF GUARANTEE – SCHEME OF CONTRACT ACT,1872 1(a) It is submitted that Sections 133, 134, 135, 139, 140,141 and 145 of the Indian Contract Act, 1872 provide as follows. 133. DISCHARGE OF SURETY BY VARIANCE IN TERMS OF CONTRACT.—Any variance, made without the surety’s consent, in the terms of the contract between the principal debtor and the creditor, discharges the surety as to transactions subsequent to the variance.
Finance Minister Calls for Prudent Expenditure Management; Asks Officers of Indian Cost Accounts Service to Upgrade Their Professional Skills and Expertise in Order to Play a Proactive Role in Assisting the Government in Achieving the Highest Level of Cost Efficiency in Its Projects, Schemes and Operations; Inaugurates the First Indian Cost Accounts Service Day
The Government of India has launched e Tourist Visa on November 27, 2014. The scheme has been extended to 77 countries at nine airports designated for providing e-Tourist visa service till now. The Centre is now going to extend this facility to 36 more countries from August 15, 2015. The new countries being included in […]
