Corona-Virus: ITC won’t be available on the masks and sanitizers distributed to employees? Hello folks, I hope you are in good spirits and are helping the nation in fighting the invisible demon of COVID-19 by staying at home. This COVID-19 has compelled us to live in a phase that was neither wished, nor imagined by […]
Gist of amendments in GST Via Notifications dated 03rd April 2020: 1. Notification number 30/2020- Central tax dated 03rd April 2020 Allow opting for Composition Scheme via portal for FY 2020-21 till 30th June 2020 and to allow cumulative application of condition in rule 36(4). 2. Notification number 31 & 32/2020– Central tax dated 03rd […]
It is very intuitive to consider all the convertible instrument as a compound financial instrument which contains both a liability and an equity component. However, in this article we will cover the convertible instruments which has equity conversion option,but do not meet the criteria of a compounded financial instrument and it’s accounting treatment under Ind […]
Understand the consequences of false entries in books of account. Learn about the penalty provisions introduced by Finance Act, 2020 to curb malpractices of issuing fake invoices.
कोरोना की वजह से आने वाले वित्तीय संकट से निपटने के लिए केंद्र सरकार एक वित्तीय आपातकाल की घोषणा करने की संभावना है, लेकिन अभी तक ऐसी कोई घोषणा नहीं की गई है, प्रधान मंत्री मोदी ने कोविद क्रिया दल के साथ चर्चा की है। राष्ट्रपती अनुच्छेद 360 के तहत आपातकाल की स्थिति घोषित करेगा। […]
Theory of the Test of Human Probabilities and surrounding circumstances and its applicability to the provisions of Income Tax Act 1961 The purpose of this article is to provide a focus on various decisions and judgments of Tribunals and Courts on the issue of Theory of the Test of Human Probabilities and sorrounding circumstances and […]
The issue relating to leviability of tax on remuneration paid to directors has been a matter of debate very since August 07, 2012 when reverse charge mechanism (‘RCM’) in respect of services provided by directors was first introduced under Service Tax laws vide Notification No. 45/2012-ST dated August 07, 2012. RCM provisions were also built-in […]
Demystification of CSR Related Issues – Clarification On Spending Of Corporate Social Responsibility (CSR) Fund For COVID-19 Ministry of Corporate Affairs vide its general circular no. 10/2020 dated March 23, 2020 clarified that in view of the spread of Novel Corona Virus (COVID 19) in India and Government of India’s decision to treat this as […]
As we all are aware that, SVLDRS was introduced with the twin objectives- First, finalize the legacy disputes in Central Excise and Service Tax that are pending at various forum and second, encouraging non-compliant taxpayer/tax evaders to declare the tax not paid so far and come under the tax net voluntarily. The scheme has received […]
Article explains what is Share Warrant and what is ESOP. It further explains to who Share Warrant and ESOP can be issued, Procedure for issue of Share Warrant and ESOP and Taxation of Share Warrant and ESOP. Share Warrant: What is Share Warrant? -Share warrant is an option issued by the company that gives the […]
