Bill Discounted and Purchased : It is an instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money to the bearer. The banks also give advances to their customers by discounting their bills. While discounting a bill, the bank buys the bill (i.e. Bill of Exchange or Promissory Note) before it is due and credits the value of the bill after a discount charge to the customers’ account.
Discover the concept of revaluation reserves in insurance companies and the role they play in accounting for changes in asset values.
Learn about Canadian taxation for the tax year 2021. Explore the process of filing income tax returns and understanding form T1.
Being in taxguru website, we assume all the readers reading this publication have already heard of the acronym IRR. Internal rate of return, commonly known as IRR, is a capital budgeting technique that is used for evaluation of any investment proposition.
Analysis of GST exemption on pure services provided to the government, local authority, and governmental entity. Understand the applicability of GST notification.
Get a comprehensive introduction to the basics of banking. Learn about the different types of deposits, withdrawals, and the essential functions of a bank.
Understand the concept of Updated Return under section 139(8A) of the Income Tax Act. File corrected returns, reduce losses, and rectify incorrect disclosures.
Ensure compliance with the Listed Company Quarterly Compliance Checklist. Learn about the trading window closure and insider trading regulations.
Understand TDS implications on provisions for salary as per Sec 192. Learn about the crucial aspects of TDS, including its application to recorded provisions other than salary, and explore Section 40(a)(iii) exemptions. Stay compliant with TDS regulations.
Explore the significance of separating the roles of Chairperson and MD/CEO in corporate governance under Section 203(1) of the Companies Act, 2013. Learn about the factors to consider when delineating these roles and understand the voluntary nature of SEBI’s mandate for listed entities, promoting board effectiveness and minimizing conflicts of interest.
