Credit rating is one of the significant financial services provided by independent credit rating agencies. These agencies first emerged in the United States around 1900 […]
CSR in Practice: A Guide to Execution, Evaluation, and Compliance
Corporate Social Responsibility refers to the activities undertaken by a company beyond its statutory obligations under Section 135 of the Companies Act. The definition under […]
Tackling Revenue Recognition Under Ind AS 115: A Practical Guide
Revenue is often viewed as the most significant figure in financial statements, reflecting a company’s operational success and its capacity to generate value and sustain […]
Understanding the 2022 Changes to FEMA Non-Debt Instrument Regulations
The Government of India, through Notification No. S.O. 1802(E) dated April 1, 2022, amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. These changes were […]
Simplifying Compliance: A Practical Guide to MCA-21 and e-Filing Tools
Electronic Governance refers to the application of information technology in the functioning of government operations to deliver Simple, Moral, Accountable, Responsive, and Transparent (SMART) governance. […]
Income Exemptions for Charitable Trusts under Section 11 of the Income-Tax Act
Sections 11 to 13 of the Income-tax Act form the backbone of the taxation framework applicable to trusts and institutions registered under section 12AA or […]
Understanding Supply and GST Levy: Meaning and Scope Explained
The Goods and Services Tax (GST) regime in India replaced a number of indirect taxes, including excise duty, service tax, and value-added tax (VAT). Previously, […]
Understanding the Nature of Additional Depreciation Under Tax Laws
The legislative text of section 32(1)(iia) specifies that additional depreciation is allowed on new machinery or plant acquired and installed after a particular date. However, […]
Understanding Accounting Standards: Definition and Scope
Accounting Standards are written statements issued by recognized regulatory or professional bodies that contain a set of principles, policies, and guidelines to be consistently followed […]
Compliance Responsibilities of Reporting Entities Under PMLA
The Prevention of Money Laundering Act (PMLA) imposes a legal obligation on every reporting entity to maintain specific records and report prescribed transactions to the […]
Understanding Cash Flow Statements Under AS-3: A Complete Guide
The cash flow statement provides additional information to the users of financial statements by showing how cash and cash equivalents have moved within an organization […]
Income Tax Slabs for AY 2024-25 & 2025-26: Old vs New Regime Guide
For the assessment years 2024-25 and 2025-26, taxpayers have the option to choose between the regular tax regime and the alternative tax regime under various […]
Understanding Taxable Events Under GST: Meaning, Provisions, and Liabilities
A taxable event is an occurrence that triggers the obligation to pay tax. It refers to the point at which tax liability becomes fixed and […]
Income Tax Rates for Individuals: FY 2023-24 Explained
Income tax is a tax levied by the Government of India on the income of a person. The provisions governing the income tax are covered […]
A Complete Guide to Securities: Definitions, Varieties, and Characteristics
Securities are financial instruments that allow entities to raise capital and enable investors to allocate their surplus funds into predefined investment options. These instruments are […]