"19 November 2019" Archive

Empanelment with IDBI Bank for Concurrent audit

IDBI Bank invites online applications from practicing partnership firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empanelled as Concurrent Auditors of the Bank....

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Posted Under: CA, CS, CMA | ,

Buy-backs – Proceed with caution

Buy-backs have been the topic of discussion in corporate corridors in India since Budget (No. 2) 2019 has extended the existing tax on buy-back of shares to listed shares. Earlier, listed companies used buy-backs as an alternative to reward shareholders, as dividend was proving an expensive alternative from a tax perspective. A buy-back i...

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Posted Under: CA, CS, CMA |

Steps taken for Prevention of Fraudulent Banking Practices

. Government has issued Framework for timely detection, reporting, investigation etc. relating to large value bank frauds to Public Sector Banks (PSBs) for systemic and comprehensive checking of legacy stock of their non-performing assets (NPAs), which provides, inter-alia, that—...

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Posted Under: CA, CS, CMA |

How Screwed Up Are Your Finances?

‘Financial Management‘ is something that we all have struggled to conquer at some point of time or other. Both at the personal and professional front having a healthy financial state always does the trick. The opposite happens when they go all messed up, your concentration is hit, and your focus at more productive things takes...

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Posted Under: CA, CS, CMA |

Section 188 – Related Party Transaction- Recent Changes in Rules

Recent Amendment in Section 188- Related Party Transaction- Companies (Meeting of Board And Its Powers) Second Amendment Rules, 2019 SECTION 188: RELATED PARTY TRANSACTIONS The provisions listed below are after taking into account amendments introduced by Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019 vide MCA n...

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Posted Under: CA, CS, CMA |

Learnings from Income Tax Assessments- Presentation

This presentation is based on my first hand experience in income tax assessments over past 3 years. I have tried to explain in brief as to what transpired at ground level in each case without use of much of jargon....

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Posted Under: CA, CS, CMA |

100 % Clarity of Ineligible Input credit under GST

Article explains when Input Tax Credit is not available under GST, What are the exception to rule/provisions of non availability of Input Tax Credit  under GST and relevant explanations. Input Tax credit under GST is not available on  Motor vehicles for transportation of persons having approved seating  capacity of not more than 13 per...

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TDS u/s 194J Applicable on Payments by TPA to Hospitals on behalf of Insurance Companies

Family Health Plan (TPA) Ltd. Vs ITO (ITAT Chennai)

The issue under consideration is whether TDS u/s 194J will be applicable on payments made by TPA to hospitals on behalf of insurance companies for settling medical or insurance claims?...

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Interest on Bank Deposit earned by Assessee Engaged in Money Lending is Business Income

Muthoot Bankers Vs. ACIT (ITAT Cochin)

whether the interest on bank deposit earned by assessee engaged in money lending covered under head of Business Income or Income from Other Sources?...

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Cross border Transactions and Investments (2019)

India is now one of the front runners among the developing countries for attracting FDI. Its strong and stable growth and commitment to institutional reforms has made it one of the most attractive destinations for FDI. Cross border flow of capital, human resource and technology has increased manifold over the period of time, which in [&he...

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Posted Under: CA, CS, CMA |

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