Indian Accounting Standard (Ind AS) 117 governs the recognition, measurement, presentation, and disclosure of insurance contracts. Replacing Ind AS 104, this new standard aligns with […]
Ultimate Guide to Place of Supply in GST: Legal Framework, Importance, and Examples
Goods and Services Tax in India has fundamentally transformed the indirect tax system by shifting from an origin-based model to a destination-based framework. In simple […]
Supply of Goods and Services under GST: Concepts, Types, and Scope
The Goods and Services Tax (GST) regime in India is structured around the concept of ‘supply’. Supply is the foundation upon which GST liability is […]
Interpretation of Taxing, Penal, and Welfare Statutes: Strict vs. Liberal Construction
The interpretation of statutes is one of the most significant aspects of judicial decision-making. Legislatures enact laws using general language, but these provisions often need […]
How the QRMP Scheme Works: GST Filing Made Easier for Small Businesses
Form 26Q is a quarterly statement that must be submitted by deductors when tax has been deducted at source on payments other than salary. These […]
Section 194R Explained: TDS on Benefits and Perquisites with Practical Examples
Section 194R is one of the most significant provisions introduced in recent years for tax deduction at source. It deals with deduction on benefits and […]
Mastering Form 26Q: TDS Return Filing Process for Non-Salary Transactions
Form 26Q is a quarterly statement that must be filed by deductors who are responsible for deducting tax at source on payments other than salary. […]
GST Compliance in Real Estate: Input Tax Credit, Reverse Charge, and Obligations
The real estate sector has always been regarded as one of the most complex and heavily regulated industries in India. The introduction of the Goods […]
How Section 194Q TDS Impacts Buyers: Practical Insights and Filing Rules
The Indian government has expanded the scope of Tax Deducted at Source (TDS) over the years to enhance tax compliance and transparency. Section 194Q, introduced […]
AIS in Income Tax: Overview, Benefits, and Recommendations for Better Compliance
The Annual Information Statement has emerged as one of the most significant digital reforms in the Indian taxation framework. Designed to provide taxpayers with a […]
Detailed Study of Clause 31 in Form 3CD: Tax Audit Compliance under the Income-tax Act, 1961
Under section 44AB of the Income-tax Act, 1961, businesses and professionals crossing the prescribed turnover or income limits are required to get their accounts audited. […]
Understanding Section 45(3): Taxation of Capital Asset Contributions to Partnership Firms
Section 45(3) of the Income-tax Act, 1961, provides for the taxation of capital gains when a person transfers a capital asset to a firm, Limited […]
CA, CMA, and CS Bill 2022 Decoded: In-Depth Analysis of Regulatory Changes
The Chartered Accountants, the Cost and Works Accountants, and the Company Secretaries (Amendment) Bill, 2021 was introduced in the Lok Sabha on December 17, 2021. […]
What Are Derivatives in Finance? A Complete Guide with History and Types
Derivatives are among the most fascinating and widely used financial instruments in the global economy. They are contracts whose value is derived from an underlying […]
Section 148A Notice and Reassessment: Everything Taxpayers Must Know
The concept of reassessment has existed since the inception of the Income-tax Act, 1961. The objective has always been to empower the Assessing Officer to […]