Matters to be included in auditor’s report as per Order called the Companies (Auditor’s Report) Order, 2020 (CARO, 2020) The Central Government, after consultation with the National Financial Reporting Authority constituted under section 132 of the Companies Act, 2013, hereby issued the Order called the Companies (Auditor’s Report) Order, 2020. It shall apply to every […]
Discover the most important exemptions under the Income Tax Act Section 10. Learn about various categories of income that are exempt from taxation.
MCA Notified the Companies (Auditor’s Report) Order, 2020 (CARO 2020) Applicability: The The CARO, 2020 is applicable for audit of financial statements of eligible companies for the financial years commencing on or after the 1st April, 2019. Changes in the CARO 2020. 1. There are no changes in the applicability of CARO, 2020. 2. There […]
Introduction of New GST Return- The GST department introduced new GST return system w.e.f. 01st April, 2020 i.e. F.Y. 2020-2021. Overview- In the proposed system of new GST Return filing, a normal taxpayer would have to file FORM GST RET-1 (Normal) or FORM GST RET-2 (Sahaj) or FORM GST RET-3 (Sugam), on either monthly (GST […]
Penal Provisions Under Sections 84 To 86 of Employee State Insurance Act, 1948 INTRODUCTION: The employee state insurance act, 1948 is the first major legislation on social security for the employees in India. It is devised to provide social protection to employee in contingencies such as illness, long term sickness or any other health risks […]
Sec. 24: the following categories of persons shall be required to be registered under GST: i. Person making any inter-state taxable supply; If a person makes a single inter-state supply, he will be liable to obtain registration and pay GST ii. Causal taxable persons making taxable supply; Causal taxable person meansa person who occasionally undertakes […]
In this article, An attempt has been made to simplify GST liability on services related to Intellectual Property rights. What is Intellectual Property Right:- The term ‘Intellectual Property Right’ (IPR) has not been defined in GST Law. MF(DR) circular No. B2/8/2004-TRU dated 10-9-2004 states as follows – Intellectual property emerges from application of intellect, which […]
Dear Professional Colleagues and Friends, well in advance of preparing Audit Plan and Audit Programme for Statutory Audit for the F.Y. 2019-20, MCA has come up CARO, 2020. Thus, Auditors and respective stakeholders, take a note of changes brought in by MCA in CARO Reporting and also the Management and those charged with Governance, be […]
Article explains What is the Political Party, What is the Electoral Trust, Who eligible to contribute or donate to the Electoral Trust or Political Parties, What is the Donation to Political Parties, What is Section 80GGC of Income Tax Act, 1961, What is the Eligibility Criteria for Claiming Tax Benefits under Section 80GGC, What is […]
Article explains Steps for Conversion of LLP into Company limited by shares, List of Documents required filing with ROC for conversion of LLP into Company in Form URC-1, Company required to file e-form for Conversion of LLP into Company limited by shares and FAQs on Conversion of LLP into Company limited by shares. List of […]
