It prescribes that entity applies to ensure that assets are not carried at more than their recoverable amount. An asset is carried at more than its recoverable amount when it exceeds amount to be recovered through use or sale of the asset.
The extant IRDAI (Health Insurance) Regulations 2016 were notified on 18th July, 2016 superseding IRDA (Health Insurance) Regulations 2013. The Guidelines on Standardization in Health Insurance were issued on 29th July, 2016.
In continuation of the previous part on Amendments in Schedule III let us discuss the remaining changes
What is the recent Instruction brought by GST Investigation Wing in respect of recovery of tax during search and seizure?
Passive income is money earned with little or no regular effort. Commercial property fractional ownership is a new source of passive income. However, if anything permits you to generate income, it is subject to taxation. The IT laws for commercial property fractional ownership differ from that for residential property.
The valuer is expected to apply his professional judgement on case-to-case basis since there is no set thumb rule to approach and account for market uncertainties and volatility in the valuation exercise and no standard normalization adjustments to cash flows or discount rates are made available to make the valuation assignment any less subjective.
Generally, a private company is guided by its Article of Association. As per Section 2(68) of the Companies Act 2013, a Private Company restricts the transfer of its shares and prohibits invitation to the public to subscribe to any securities of the Company.
The insurance companies classify different types of insurance covers offered to policyholders in many ways. The broad Classification of such insurance cover has been covered in this article.
The new information which taxpayers need to provide is the source of their "pension, interest received from the EPF account, date of purchase or sale of land", etc. It is essential for you to know the six additional pieces of information to provide them in the ITR form.
The article lists down Statutory Tax Compliance Tracker for the m/o June 2022
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
