Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 amends Foreign Exchange Management (Current Account Transactions) Rules, 2000, under the Foreign Exchange Management Act, 1999. Title and Commencement: The amendment is titled the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023. It states that the rules come into force on the date of their […]
AO not shown that alleged income escaped for assessment is represented in the form of an asset. What is assessed in this year u/s 153A of the Act is the addition towards alleged bogus purchases and disallowance of salary/professional fee u/s 37 of the Act.
SEBI consultation paper on Special Rights to Unitholders and Role of Sponsor in REITs & InvITs is on proposals to strengthen governance norms for REITs and InvITs
The sub-regulation (1) and (10) of Regulation 31A of IBBI (Liquidation Process) Regulations, 2016, requires a liquidator to take advice of consultation committee in respect of sale under regulation 32 and such advice shall not be binding on the liquidator: Provided that where the liquidator takes a decision different from the advice given by the […]
BSE via circulars dated January 27th 2023 & March 31st 2023 had introduced the facility for filings of certain announcements in XBRL format. Further via circular dated May 16th 2023 BSE has issued certain clarifications on Filing of announcements in XBRL format on BSE listing centre which is summarized as follows – Area of doubts […]
Tirumala Tirupati Devasthanams Employees Co Op. Credit Society Vs ITO (ITAT Hyderabad) In the case on hand, undisputedly, the interest arose on the credit balances with reference to the regular course of business of the assessee. On this aspect, the Hon’ble jurisdiction High Court in Vavveru Co-operative Rural Bank Ltd. (supra), held that, if the […]
Dive into the world of Service Concession Arrangements (SCAs) under Ind AS 115. Explore their meaning, significance, and accounting treatment. Learn how to recover costs through different models and navigate the revenue recognition principles. Uncover the disclosure requirements to ensure compliance and transparency. Stay informed on the evolving landscape of SCAs with the implementation of Ind AS 115.
The GSTR-10 form is a return form filed under the Goods and Services Tax (GST) Act of 2017 in India. It is also known as the Final Return form. GSTR-10 is applicable to taxpayers who have canceled their GST registration or their registration has been deemed as canceled by the tax authorities.
Unlock the secrets of Income Tax deductions! Explore commonly utilized deductions like Section 80C, 80D, and more. Understand eligibility criteria and maximize your rebates for efficient tax planning. Get insights into old and new tax regimes to make informed choices. Consult a tax professional or use reliable tax-filing software for accurate and efficient filing.
Instances arise where NBFCs fail to accurately calculate interest on these deposits, especially when it comes to considering the compounding frequency (RESTS) on a monthly, quarterly, or yearly basis.
