In the complex world of finance, credit rating acts as a compass guiding investors, lenders, and financial institutions through the uncertainties of risk and reward. […]
How to Deduct and Deposit TDS on Purchase of Goods under Income Tax Act
Section 194Q of the Income Tax Act introduced a new dimension to the mechanism of tax deduction at source by extending its applicability to certain […]
How to Choose Between Old and New Personal Tax Regime: Expert Insights
The Government of India introduced the New Personal Tax Regime starting from the financial year 2020-21 with an aim to simplify the tax structure for […]
Understanding the Impact of Struck-Off Companies on Financial Statement Disclosures
Financial statements provide a vital snapshot of a company’s financial position, performance, and cash flows over a particular period. However, the numbers alone do not […]
Understanding the Error in Proviso to Section 201(1) and Its Impact on Form 26A Filing
The taxation framework in India has consistently aimed to secure the tax base, particularly in cross-border transactions involving payments to non-residents. Among the many mechanisms […]
Supreme Court Ruling on Northern Operating Systems: Key Impact on GST Reverse Charge
On May 19, 2022, the Supreme Court of India delivered two significant judgments that have altered the landscape of indirect taxation. One of these rulings […]
Why Transfer Pricing Documentation Is Crucial for Global Tax Compliance
In recent years, transfer pricing has emerged as a significant area of scrutiny for tax authorities globally. Multinational enterprises engage in numerous cross-border transactions between […]
Cost Accounting Standards (CAS) Explained: Full Analysis of CAS-1 to CAS-24
Cost Accounting Standards are a comprehensive framework issued by the Institute of Cost Accountants of India to provide consistency, accuracy, and reliability in cost determination, […]
CBDT Updates Compliance Rules with Form No. 56F for Section 10AA Tax Deduction Claims
The Indian government has consistently introduced measures to promote exports and boost economic growth through various fiscal incentives. Among these, Section 10AA of the Income […]
Income-tax Act Provisions for Tax-Free Scholarships Explained
Education has long been recognized as the foundation for personal growth, skill development, and socio-economic advancement. In India, scholarships are one of the most important […]
Capital Gains in India: Complete Guide to Definition, Types, and Tax Rates
Capital gains represent the profit earned when a capital asset is sold for an amount exceeding its purchase price. This concept is central to the […]
Detailed Overview of Ind AS 23 – Borrowing Costs and Their Capitalisation Rules
Securitisation is a structured financial process in which a pool of income-generating assets is transformed into marketable securities that can be sold to investors. These […]
Mastering Ind AS 32, Ind AS 109, and Ind AS 107 for Financial Instrument Accounting
Financial instruments encompass a wide variety of arrangements and contracts that are fundamental to business transactions and corporate finance. Items such as debtors, cash, loans […]
Liberalised Remittance Scheme Explained – Current and Capital Account Transactions under LRS Rules
The Liberalised Remittance Scheme, often referred to as LRS, is a significant component of India’s foreign exchange management framework. It provides a structured mechanism for […]
Complete Guide to Clause 16 of Form 3CD in Tax Audit Under the Income Tax Act, 1961
Tax audits under the Income Tax Act, 1961 serve as an essential mechanism to ensure the accuracy, transparency, and compliance of financial reporting. Businesses and […]