The description “Agreeing to the obligation to refrain from an act or to tolerate an act or a situation, or to do an act” has been included within the ambit of supply as per entry no 5(e) of Schedule II of the CGST Act, 2017.
Section 44AA of the Income Tax Act, 2017 requires certain classes of taxpayers to mandatorily maintain books of accounts.
Section 44AA of the Income tax Act, 1961 – Compulsory Maintenance of books of accounts Read More »
Before understanding what HRA means, you should first understand that an employee’s salary is basically divided into several components. For example, some of the components might be, basic salary
In simpler terms, associated enterprises are enterprises which directly or indirectly control another enterprise. Control can be exercised through various means such as, equity investment, participating in the management
Associated Enterprises – Section 92A of the Income Tax Act, 1961 Read More »
All the directors of the company are collectively referred to as the board who are responsible for setting the organisational objective, strategic decision making and all others matters relating to the operation of the company or the conduct of business.
Board Meeting – A guide to provisions relating to a Private Limited Company Read More »
The details submitted by a taxpayer by way of an income tax return are scrutinized and evaluated by the government through assessment officers.
Income Tax Assessment: Basics Read More »
whether the company is required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934) and if so, whether the registration has been obtained.
CARO 2020: Point 16 (Section 45IA of the RBI Act and related compliances) Read More »
Whether the company has incurred cash losses in the financial year and in the immediately preceding financial year, if so, state the amount of cash losses
CARO 2020: Point 17 (Cash loss) Read More »
whether there has been any resignation of the statutory auditors during the year, if so, whether the auditor has taken into consideration the issues, objections or concerns raised by the outgoing auditors.
CARO 2020: Point 18 (Resignation of Statutory Auditors) Read More »
on the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the financial statements, the auditor’s knowledge of the Board of Directors and management plans
CARO 2020: Point 19 (Material Uncertainty) Read More »
