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Indian Accounting Standard (Ind AS) 16

June 1, 2020 3039 Views 0 comment Print

Indian Accounting Standard (Ind AS) 16 Property, Plant and Equipment# (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective 1. The objective of this Standard is to prescribe the accounting treatment for property, plant and equipment so that […]

Indian Accounting Standard (Ind AS) 7

June 1, 2020 1506 Views 0 comment Print

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows# (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate the main principles.) Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis […]

A guide on General Precautions for Covid-19 Prevention

May 31, 2020 1431 Views 0 comment Print

This guide on COVID-19 is prepared by GIPARD in consultation with the Department of Preventive & Social Medicine, Goa Medical College & Hospital; in the larger public interest and for the benefit of different sections in the society, so that they can take the necessary precautions and protect themselves as well as others from getting […]

ICAI Advisory on unauthorised use of Trademark ‘ICAI’

May 31, 2020 3177 Views 1 comment Print

Mark ‘ICAI’ which is the acronym of the Institute has acquired a distinctive character and as it exclusively considered to be associated with Identity of Institute of Chartered Accountants of India (ICAI).

IBBI imposes penalty of ₹ 34 Lakh on IP for non-Adherence to provisions of IBC code

May 30, 2020 849 Views 0 comment Print

Adherence to provisions of the code is the first and foremost duty of an IP. It is incumbent upon IPs to build and safeguard the reputation of the profession which should enjoy the trust of the society and inspire confidence of all the stakeholders.

Advisory for CAs & Companies to whom CSR provisions apply

May 29, 2020 10872 Views 1 comment Print

Wherever the company undertakes the CSR activity through a third party / NGO, it is advised that all such companies should obtain an Independent Practitioner’s Report on Utilisation of such CSR Funds from the auditor / CA in practice of the third party / NGO, to whom the funds are given by the Company for implementing CSR activity.

Recovery of Penal Interest on delayed remittance of Government Receipts into Government Account

May 29, 2020 1449 Views 0 comment Print

Agency banks were advised that petty claims of penal interest involving an amount of ₹ 500/- (on per transaction basis) or below would be ignored and excluded from the purview of penal interest on delayed reporting of State Government transactions,

Tax bumps in M&A trajectory

May 29, 2020 3285 Views 0 comment Print

On the tax front, the laws of most countries have provisions that deal with the taxation of different forms of M&A transactions and provide exemptions where deemed appropriate.

BSE extends due date for payment of Annual Listing Fees for F.Y. 2020-21

May 28, 2020 4446 Views 1 comment Print

Kindly note that due to current pandemic situation and lockdown measures across the country, the due date for payment of Annual Listing Fees for F. Y. 2020-21 has been extended to June 30,2020.

DGFT notifies additional quantity of 3569 MT for export of sugar to USA under TRQ

May 28, 2020 723 Views 0 comment Print

Public Notice No. 07/2015-2020 Additional quantity of 3569 MT of raw cane sugar and refined sugar, for export to USA, under TRQ, upto 30.09.2020, has been notified.

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