The Consumer Protection Act can be regarded as a civil court tailored for the common man. It is designed to provide consumers with a low-cost, […]
Correcting Tax Mistakes: A Guide to Section 77 of CGST and Section 19 of IGST
The Goods and Services Tax (GST) regime, introduced to unify India’s complex tax system, brought significant changes to the way indirect taxes are administered. While […]
Understanding Revenue from Operations: Definition, Significance, and Real-World Examples
Revenue from operations is a key figure in financial statements and plays a vital role in analyzing an entity’s financial health. It encompasses all the […]
Understanding Waqf: Redefined Under the UMEED Act
The concept of waqf holds deep historical and religious significance in Islamic law, referring to the permanent dedication of property for purposes that are religious, […]
Functions and Mandate of the RBI: A Comprehensive Overview
The Reserve Bank of India is the apex financial institution of the Indian financial system, entrusted with the task of control, supervision, promotion, development, and […]
Dormant Companies in India: Definition, Advantages, and Compliance Process
The concept of a dormant company is a relatively new development in Indian corporate law, introduced by the Companies Act of 2013. Unlike the previous […]
A Complete Guide to Taxation of Cooperative Societies in India
In India’s diverse economic landscape, cooperative societies hold a unique position. Rooted in principles of mutual assistance and collective benefit, cooperatives function across vital sectors […]
Understanding TDS Deductions: Sections 192 to 194DA Explained
Tax Deduction at Source (TDS) is a mechanism under the Income Tax Act whereby the payer of specified income deducts tax at the time of […]
Comprehensive Overview of the Companies (Amendment) Act, 2020
The Companies (Amendment) Bill, 2020, was introduced in the Lok Sabha on March 17, 2020. It was passed by Parliament and became an Act on […]
Corporate Gifting and Tax Implications: Decoding the Amendment to Section 47(iii)
Capital gains taxation is a significant part of the Income Tax Act, 1961, falling under Chapter IV-E. Section 45(1) of the Act is the charging […]
Understanding Product Decisions in Marketing: Levels, Types, and Customer Value
Product is a fundamental element in marketing and serves as the starting point in crafting market offerings. Marketing planning begins with designing an offering that […]
Pre-Shipment Finance Explained: A Guide for Export-Oriented Businesses
Exporters, once they receive export orders, generally look for financing options at competitive interest rates in order to execute the orders. On one hand, they […]
Understanding Ind AS 32: Classification and Presentation of Financial Instruments
Ind AS 32 deals with the presentation of financial instruments, focusing on how they are classified in financial statements, particularly on whether a financial instrument […]
Understanding GSTR-3B: Filing Requirements, Due Dates, and Legal Provisions
Under the Goods and Services Tax (GST) law, every registered person, except certain specified persons, is required to furnish details of inward and outward supplies […]
Foreign Trade Policy 2023: Background, Key Provisions, and Classification Explained
The use of import trade controls in India began during the early years of the Second World War. Notifications issued under the Defence of India […]