"26 April 2018" Archive

Life insurance and tax benefits

Your life is your ultimate investment and the well-being of your family is your principal asset. And when you invest in Max life insurance policies you ensure an economically secured future for your beloved ones. There is a common perception that the premium which is paid towards the life insurance policies is completely free of […...

Read More
Posted Under: Income Tax |

E Proceeding- centralised issuance of notice

In furtherance of introducing e – proceedings by The Finance Act, 2018 by the government, CBDT by way of notification (Notification No. 12/2018-Income Tax) makes centralized issue of notice u/s 133C electronically & replies to it also to be filed in e form. The Centralised Communication Centre shall issue notice to any person requir...

Read More
Posted Under: Income Tax |

Can allotment letter date be taken as date of acquisition?

Generally, the flat buyers purchase the flats under a letter of allotment and subsequently enter into an agreement for sale after some time. Sometimes the time difference between the letter of allotment and date of agreement is more than one year or it may be in two different financial years. When such flat is sold the issue arises is wha...

Read More
Posted Under: Income Tax |

Insolvency in NCLT- Defects, Listing & Admission of an Application

There can be 3 stages of an application under IBC before NCLT i.e defect, listing and admission under IBC...

Read More
Posted Under: Income Tax |

Draft Indian Valuation Standard 201: Scope of Work, Analyses and Evaluation

This Standard prescribes the basis for: (a) determining and documenting the scope/terms of a valuation engagement, responsibilities of the valuer and the client; (b) the extent of analyses and evaluations to be carried out by the valuer; and (c) responsibilities of the valuer while relying on the work of other experts....

Read More
Posted Under: Income Tax |

Draft Indian Valuation Standard 103:- Valuation Approaches and Methods

Following is the Exposure Draft of the Indian Valuation Standard 103 Valuation Approaches and Methods issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments....

Read More
Posted Under: Income Tax |

Draft Indian Valuation Standard 102- Valuation Bases

Following is the Exposure Draft of Valuation Bases issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments....

Read More
Posted Under: Income Tax |

Draft Indian Valuation Standard 101 Definitions

Following is the Exposure Draft of the Indian Valuation Standard 101 Definitions issued by the Valuation Standards Board of the Institute of Chartered Accountants of India, for comments....

Read More
Posted Under: Income Tax |

New Initiatives by EPFO to provide services and timely information

It has now been decided to publish the age-band wise estimate of all new subscribers as declared by their employers. The new employees have been categorised in six age bands like less than 18; 18-21; 22-25; 26-28; 29-35 and more than 35 years of age....

Read More
Posted Under: Income Tax |

Key practical tips in practice of IFRSs (Ind ASs)

IFRSs (IND ASs being the Indian version) are now applicable in India for all listed and non-listed majors too including the requirement to prepare group financial statements. Chartered accountants in particular have to apply due diligence to measure and recognise fair values of financial assets, financial liabilities, financial derivative...

Read More
Posted Under: Income Tax |