Firstly we need to understand the concept of Investment outside India in brief then we will be able to understand the meaning of Disinvestment. Indian Party may invest outside India by way of contribution to the capital or subscription to the Memorandum of Association of a foreign entity or by way of purchase of existing […]
In every country and every society there are people who wish to do something monetarily for the poor and needy people in various ways. For this purpose, instead of donation the amounts to the Government or semi Government organizations, they prefer to form Charitable Trusts or Organizations and do the charity through such trusts. When […]
Difference between Banking Regulation Act before Amendment and After Amendment of Introduction of The Banking Regulation Ordinance, 2020. BR Act (Before Amendment) BR Act (After Amendment) Remarks (1) Change in Section 3: – Section 3 Nothing in this Act shall apply to. – (a) a primary agricultural credit society; (b) a co-operative land mortgage bank; […]
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♣ CBDT issues a circular condoning the delay in filing of form No. 10 BB (Form for furnishing the audit report of the accounts of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution) for AY […]
The Hon’ble Supreme Court of India, in Madras Bar Association v. Union of India & Anr. [Writ Petition (C) No.804 of 2020, (dated November 27, 2020)] upheld the validity of Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience and other Conditions of Service of Members) Rules, 2020, (Tribunal 2020 Rules) with some modifications and ordered […]
Learn about compound financial instruments and their role in accounting standards. Discover how they are classified and the impact they have on financial reporting.
The concept of legal compliance management service must have appeared to be part of your businesses in Recent Years. The whole idea has startled to fulfill their requirements of the business like regulatory management for the sake of the companies. Based on that, in recent years there have been several legal service providers springing up to […]
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design. Tax exemption under […]
Supreme Court in Skill Lotto Solutions Pvt. Ltd. v. UOI & Ors. held that lottery and gambling under GST’s ambit is legally valid, upholding validity of tax imposition on lottery tickets and prize money.
XBRL is a language for e-communication of financial and business data for business reporting. It is a standardized communication language in electronic form to express, report or file a financial statements by a Companies. However, XBRL is only a method of presentation or reporting. It does not attempt to make any changes in the content to be reported.
