CAclubindia Articles
Introduction of RCM Liability/ ITC statement
A statement called RCM liability/ ITC statement has been introduced on GST portal.
Essential Income Tax Deadlines for September 2024
Tax planning is vital for effective financial management and avoiding penalties. The income tax department has outlined crucial deadlines for September 2024.
Case Study: Change in Accounting Estimates And Errors Reporting
In the given case, the retrospective restatement has no effect on the information in the balance sheet at the beginning of the preceding period (i.e., 1st April 2021). Therefore, PQR Ltd. is not required to present a third balance sheet.
Filing Belated Income Tax Return & Common Reasons for Delayed Filing
You can file a belated Income Tax Return (ITR) if you missed the original deadline of July 31. The deadline to file a belated ITR is December 31 of the assessment year.
Valuing Securities Using the Option Pricing Method
The option pricing method (OPM) is a widely used approach for allocating equity value to various securities within the intricate capital structures of privately held companies.
IBBI's New Proposal: Streamlining MSME Resolution with Registration and Disclosure Reforms
On August 23, 2024, the Insolvency and Bankruptcy Board of India (IBBI) introduced a discussion paper proposing crucial amendments to the IBBI(Corporate Insolvency Resolution Process) Regulations, 2017 (CIRP Regulations).
Case Study: Revenue Recognition
The entity ABC is a public limited company domiciled in India. The Government of India holds 52% in the paid-up equity capital of the company as of 31st March, 2023
Potential Changes in GST Slabs: 12% vs 18% GST Slabs
A ministerial group is thoroughly reviewing GST rates in the 12% and 18% brackets. Decisions on potential changes are expected by the end of September.
GST Taxpayers Without Valid Bank Account to Be Barred from Filing GSTR-1 from 1st September
From September 1, 2024, GST taxpayers must have a valid bank account linked to their GST registration to file GSTR-1.
Buyback of Shares - Process and Taxation
The buyback of shares is a corporate financial strategy where a company repurchases its own shares from existing shareholders. This process reduces the number of outstanding shares, thereby increasing the ownership stake of remaining shareholders.
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