Introduction : Classification of goods under GST is very important and has very vide implications considering multi tax rate structure. To ascertain whether a subject matter is exigible to tax, exemption, rate of tax, classification is a crucial task. Certain entries in notifications to defined tax rates led to disarray among the industry. Advance rulings […]
Each depositor in a bank is insured upto a maximum of 1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.
Dematerialization is the process by which physical share certificates are converted into digital or electronic form. These dematerialized shares are held in demat account that is held with a depository. The basic need is to smoothen the process of buying, selling, transferring and holding shares and also about making it cost-effective. All the shares are […]
One of the Most Important meetings in a company can be said is Board Meeting, reason being, the inception of any decision which affects the company starts from this meeting. All the brainstorming pertaining to planning till feedback of any undertaking by a company, is made vocal and communicated to all the Board members in […]
The implementation of GST can be considered as biggest yet controversial tax system in India. The government has been changing and introducing new rules almost every fortnight. Among all these rules and regulation lies a prominent aspect that is GST refund. We will today discuss one of many circumstances in which a taxpayer can apply for the credit that is lying in his/her Electronic Credit ledger account.
A business model is a model which describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. In other words, business model is essentially a blueprint of how services or products would be created and how the revenue would be generated.
An entity shall classify financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit & loss on the basis of both: (a) The entity’s business model* for managing the financial assets and (b) The contractual cash flow** characteristics of the financial asset. *An entity’s business model […]
We all knows that Constitution of any Country is the supreme law of the land so same is the case of our Country. Before discussing the title we need to first understand the term ‘Constitutional Bodies’.
The section 44AD of the Income Tax Act contains special provisions for computing profits and gains of a business on presumptive basis. It is applicable in respect of eligible business / (es) carried by an eligible assessee.
Before readers go through the PMC bank scam it is important for them to understand the background of PMC bank:- ♠ PMC stands for Punjab and Maharashtra Co-operative Bank. ♠ The bank started on February 13,1984 ♠ The bank has a wide network of 137 branches across six states. ♠ The Bank stands among top […]
