“What’s the use of a fine house if you haven’t got a tolerable planet to put it on.” A very famous quote of poet and philosopher Henry David Thoreau which holds so true in the present crisis this world is facing. The global pandemic and proliferate increase in its outspread has led the common man to face […]
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. Objective of ATMA- NIRBHAR BHARAT ABHIYAN Interim measures such as liquidity infusion and direct cash transfers for the poor. long-term reforms in growth-critical sectors to make them globally competitive and attractive. Decisions taken by […]
Internal Financial Control came into existence to promote risk management and governance process within the organization so that we don’t have another Satyam case in the future. In this article we have discussed the Internal Financial Control (IFC) from the Business perspective and from Auditor’s perspective:
The factor of ‘reason to believe’ is extremely crucial while conducting search and seizure proceedings. The same reasons are also required to be on record. Why are reasons to believe to be considered important? And what impact can it have?
Recent amendment in IFRS 16 and exposure draft (Proposed amendment) on Ind AS 116 – Leases for accounting of rent concession due to Covid-19 The pandemics of coronavirus, or COVID-19 has been here for a while and after the first shock of its quick spread and effect on people’s health, we are all seeing its […]
Covid 19 Impact on Residential Status Under the Income Tax Act, 1961 for the F.Y 2019-20 Background 1. Section 6 of the Income Tax Act 1961, deals with the determination of residential status of a person (i.e resident, Non-resident and Not ordinary resident). 2. The taxability of income of person who is stay outside India […]
Dear Readers, You might be aware about the recommendations of the Niti Aayog to the central government about the privatisation of few Indian Public Sector Banks. Currently, the talk about the privatisation of 3 public sector banks namely, Punjab & Sind Bank, Indian Overseas Bank and Bank of Maharashtra is in the air. So, after […]
Understand the proposed changes in IND AS 116 and the challenges ahead. Learn about the impact of COVID-19 on lease arrangements and financial reporting standards.
Budget 2020-21 introduced section 285BB in the Income-Tax Act to implement revised Form 26AS and include all information concerning taxpayer with the Income Tax during the year (Making it a ONE STOP).
Article explains due date for filing of ROC Forms for Financial Year 2020 which includes Form ADT-1 – Appointment of Auditor, Form AOC-4 and Form AOC-4 CFS (in case of consolidated financial statements) Filing of Annual Accounts, Form MGT-7– Filing of Annual Return, Form CRA-4- Filing of Cost Audit Report, Form MGT-14- Filing of resolutions […]
