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Introduction to Derivatives A derivative is a financial contract that derives its value from an underlying asset. The buyer agrees to purchase the asset on a specific date at a specific price. The most common types of derivatives are forwards, futures, options, and swaps. The most common underlying assets include commodities, stocks, bonds, interest rates, and currencies. Derivatives make […]
Get a comprehensive understanding of Section 67 and 67A of the Information Technology Act, 2000. Learn about the consequences of publishing or transmitting obscene material.
Learn about the offences and penalties under the Information Technology Act, 2000. Understand the legal recognition of electronic transactions and digital signatures.
The objective of composition scheme is to bring simplicity and to reduce the compliance cost for small taxpayers. The taxpayers having an aggregate turnover not more than Rs. 1 Crore (Rs. 75 Lakhs in Special Category Notified States) is eligible to opt for composition scheme.
Introduction Blockchain is an accounting technology. It is concerned with the transfer of ownership of assets, and maintaining a ledger of accurate financial information. The accounting profession is broadly concerned with the measurement and communication of financial information, and the analysis of said information. Using blockchain provides clarity over ownership of assets and existence of […]
Invoice is the main criteria for deciding Time of Supply of Goods and Services As per section 31(1), A registered assessee supplying taxable GOODS is required to issue invoice BEFORE OR AT THE TIME OF (i) Removal of Goods where supply involves movement of Goods; or (ii) Delivery of Goods in any other cases As […]
Blockchain is based on smart contracts which are used for automating business processes. However, it needs to be ascertained that these contracts are used with proper business logic, and auditors should apply their due-diligence at each stage to track errors and anomalies.
