a) How to compute the tax charge – current tax and deferred tax charge for the current quarter ending 30 Sep 2019 – Q2 (under the revised rate structure)? b) Will the tax charge for the preceding quarter ended 30 June 2019 (calculated under the then applicable income tax rate – base rate of 30%) need to be restated/revised for the financial result preparation?
The Central Board of Income taxes, vide Circular No. 29/2019 dated 2nd October 2019 have issued clarification on the usability of the Minimum Alternate Taxes (MAT), subsequent to the issue of the Taxation Laws (Amendment) Ordinance, 2019. The Amendment Ordinance, had provided an option to the existing domestic company of paying tax at reduced base […]
Taxation Laws (Amendment) Ordinance 2019 – Income Tax Amendment – 2019 September You have to go through tough situations to get better. As a bold step to revive the current Indian economy, the Finance Minister announced various amendments in the form of reduced tax rate and incentives in the Income tax act. These changes have […]
‘Buy One Get Two Free’ or ‘Get a Bag free on purchasing items worth Rs 5,000/-‘ or ‘Get Additional 10% discount on annual purchases exceeding Rs 2,50,000/-‘ – Goods and Service Tax (GST) Impact Analysis Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other […]
It is ripe time for ICAI to take initiative and show leadership in conveying and educating the investors, regulators and other stakeholders about the need to constructively assess the performance/review conducted by the auditor and then come to conclusion whether the auditors have failed to take reasonable procedures to identify the fraud.
