WHETHER LOOSE SHEETS FOUND IN SEARCH WITH THIRD PARTY WILL CONSIDERED AS BOOKS OF ACCOUNTS. Dear friends, we know that where any sum is found credited in the books of an assessee, maintained for any previous year and the assessee offers no explanation about the nature and source thereof or the explanation offered by him […]
1) Mandatory Registration of NGO’s with MCA for raising CSR Funds. (a) Every entity, covered under sub-rule (1) of Rule 4 of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021, who intends to undertake any CSR activity, shall register itself with the Central Government by filing the form CSR-1 electronically with the Registrar, with effect […]
This article deals with the concept of Input Tax Credit (ITC) under GST. What is Input tax Credit, how it can be claimed, what is the maximum time limit and other related questions regarding ITC has been answered. I have tried to explain the concept in simple language for better understanding. Q1- What is Input […]
The Food Processing Industry (FPI) is of enormous significance as it provides vital linkages and synergies that it promotes between the two pillars of the economy, i.e. agriculture and industry. India is the world’s second largest producer of fruits & vegetables after China but hardly 2% of the produce is processed. The Food Industry/Sector in […]
As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. terminologies are also tuned here. Let us sail beyond statutory sections sight u/s 134, […]
SEBI since its inception till now has completed an eventful journey as a capital markets regulator and has tried to create a market infrastructure which is far better than many of the countries. No doubt that the markets earlier were restricted to few hands, entities and intermediaries, but now there has been a quantum jump […]
ICAI has set up Committee for Review of Education and Training (CRET) and members of committee have invited suggestions. Following are my suggestions Article ship period should be bifurcated into 2 parts. 2 years of Articleship, then 1 year time for preparation for CA Final and 9 months of mandatory Industrial training Post Qualifying Institute […]
Q.1 What is Startup India? Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower startups to grow through innovation […]
In view of the COVID-19 pandemic and in order to address the emergency situation by increasing the provision of secure and reliable vaccinations, the National Expert Group on Vaccine Administration for Covid-19 found some guidelines on the supply of Covid-19 Vaccine. The CDSCO will process those proposals for Restricted Use in Emergency Situations on the […]
WHAT IS A MEMORANDUM OF UNDERSTANDING (MOU)? A Memorandum of understanding (MOU) is a formal and a written agreement between parties under which their aligned intentions are expressed. Additionally, this sort of paper outlines the purpose of a common course of action. A Memorandum of understanding (MOU) can be bilateral (between two parties) or multilateral […]
