Notification No. 24/2023- Income-Tax Dated: 03rd May, 2023 under section 90(1) of Income tax Act, 1961 regarding Agreement and Protocol between the Government of the Republic of India and the Government of the Republic of Chile for the Elimination of Double Taxation and the Prevention of Fiscal Evasion and Avoidance with respect to taxes on […]
Increased contribution shall he applicable to basic wages, dearness allowance and retaining allowance to the extent such basic wages, dearness allowance and retaining allowance exceed fifteen thousand rupees per month.
44 EMB Studio Private Limited Vs Union of India (Bombay High Court) Counsel for the Petitioner submitted that though it is correct that for part of the claim which has been rejected refund was sought after a period of two years, however, the period was extended by the orders passed by the Hon’ble Supreme Court […]
Understand the intricacies of IND AS 115, the accounting standard for revenue recognition. Explore the five-step model, criteria for contract identification, performance obligations, transaction pricing, and more. Learn how this standard enhances transparency in financial statements and impacts revenue recognition practices for entities dealing with contracts with customers
Explore the strategic decision of share buybacks in this comprehensive guide. Understand the reasons, legal framework, methods, and benefits for both companies and shareholders. Learn about compliance, taxation aspects, and technical issues involved in the buyback process.
Form 10BD is a statement required to be furnished by the donee, i.e., the trust, NGO or institution that receives donations under Section 80G of the Income Tax Act, 1961. The purpose of this form is to provide details of the donations received during the financial year and to ensure that the donations received are genuine and eligible for tax benefits.
Learn how to calculate HRA (House Rent Allowance) exemption under the Income Tax Act. Understand the factors like basic salary, actual rent paid, and HRA received. A comprehensive guide for employees to ensure accurate tax planning.
Quick reference guide for SA 710 Comparative Information, Corresponding Figures & Comparative Financial Statements. Learn about scope, objectives, definitions, audit procedures, and reporting requirements. Essential insights for auditors and financial professionals.
Employee stock option plan ESOP is a contractual agreement that offers employees the right, but not the responsibility, to purchase or subscribe to a defined number of firm shares at a fixed price, such as the exercise price. There is no change in the exercise price if once decided even if future market prices increase.
Punjab & Haryana High Court held that amount deposited during the search cannot be retained by the department as this deposit cannot be taken to be voluntary as no proceedings u/s 74(1) of the CGST Act has been initiated.
