In today’s digital age, data protection has become an essential aspect of our lives. The increasing reliance on technology and data storage has made data breaches and cyber-attacks more common than ever before. Therefore, it is crucial for individuals and organizations to stay ahead of evolving data protection.
IND AS 7, or the Indian Accounting Standard 7, is a financial reporting standard that outlines the requirements for preparing and presenting cash flow statements. It is applicable to all entities that are required to comply with IND AS and provides guidance on the presentation of information about an entity’s cash receipts and payments during a given period.
Q.1 What is IND AS 1? Ans. IND AS 1 is the Indian Accounting Standard that sets out the rules for presentation of financial statements. Q.2 Who is required to comply with IND AS 1? Ans. Companies in India that are listed on the stock exchange, as well as unlisted companies with a net worth of Rs. […]
One of the key standards is IND AS 1 – Presentation of Financial Statements. This standard sets out the principles and requirements for the presentation of financial statements, which are the primary means of communicating financial information to users.
Introduction to IND AS 2 IND AS 2 is a financial reporting standard that deals with the valuation and presentation of inventory in a company’s financial statements. This standard applies to all entities that prepare their financial statements in accordance with the Indian Accounting Standards (Ind AS).
Explore the importance of managerial remuneration compliance, legal aspects, tax implications, and auditors responsibilities under the Companies Act 2013 and Income Tax Act 1961.
An Audit Trail is a chronological record of all the events or transactions that have occurred within a particular system or process. It is used to track changes to data and document who made those changes, when they were made, and why.
Composite Scheme under GST was introduced to simplify tax compliance process for small businesses. It is a voluntary scheme that provides relief to small taxpayers by allowing them to pay a fixed rate of tax based on their turnover.
Article discusses concept of TDS on cash withdrawals as per Income Tax Act, its applicability, rates, threshold limits, and process of TDS deduction and return filing.
In the context of GST, Job Work refers to any process that is undertaken by a job worker on behalf of a principal, who remains the owner of the goods throughout the job work process.
