Sponsored
    Follow Us:

Utkarsha Aggarwal

Latest Posts by Utkarsha Aggarwal

New section 147 Reassessment procedure | Reason to believe Vs. Information

July 4, 2021 15795 Views 6 comments Print

Finance Act, 2021 made the existing procedure of reassessment under section 147 of the Income Tax Act (‘Act’) completely redundant by substituting it with a new reassessment procedure. Memorandum Explaining the Finance Bill, 2021 makes it amply clear that such changes are killing two birds with one stone viz. 1. Less Litigations and 2. Ease of Doing business for the taxpayers.

Covid-19 impact on Accounting Standards Compliant Financial Statements

August 16, 2020 3510 Views 0 comment Print

COVID-19 pandemic has disrupted the entire world whether its humans’ health or their financial health. Financial statements have to bear the direct impact of this unprecedented pandemic. But how will this be shown and disclosed? This is being answered by the prestigious Institute of Chartered Accountants of India (ICAI) in its Advisory issued in March […]

‘Meaning of Business’- Amendments in Ind AS 103 Decoded

August 1, 2020 9102 Views 1 comment Print

Recently the MCA issued notification dated 24/07/2020 wherein a number of amendments are introduced in IndAS 103, 107, 109, 116, 7, 8, 10, 34 and 37. We will be here discussing the amendments brought in IndAS 103. It is worthy to  note that the changes are in line with changes introduced by IASB in IFRS […]

Residential Status- Genesis of Income Tax Computation (PY 2020-21)

July 17, 2020 17274 Views 3 comments Print

We all are no stranger to the fact that Residential status is the foremost requirement to be examined for each Previous Year while computing tax. Residential Status may vary Previous Year to Previous Year. Section 6 of Income Tax Act, 1961 deals with it. Recently major amendments have been inserted by Finance Act, 2020 in […]

Sponsored
Sponsored
Search Post by Date
October 2024
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031