CAclubindia Articles

Navigating E-commerce TDS: A Detailed Guide

Posted by CA Kunal Jain 02 January 2024 4382 Views

The latest circular on TDS (Tax Deducted at Source) for online transactions brings some key clarifications. Don't get lost in the technical jargon - This detailed guide simplifies it all!

A Comparative Study of Ind AS 8 and AS 5

Posted by CA Rakesh Ishi 02 January 2024 4789 Views

A Comparative Analysis of Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors and AS 5 - Net Profit or Loss for the Period, Prior Period ...

Importance of balancing risk and opportunity in the context of AI and Accounting

Posted by Aashok Kumar Sharma 02 January 2024 1416 Views

In 2024 and onwards, AI will become a significant player in various industries, including accountancy. Accountants must manage the potential impact of AI, especially in client data security and the reliability of AI tools.

Actuarial Valuation Insights: Gratuity Accounting Provision

Posted by Radhika Teredesai 02 January 2024 3734 Views

Helps Audit Professionals in ensuring compliance with accounting standards like AS -15 (R), Ind AS 19 | IAS 19 | US GAAP which mandate the use of Actuarial Valuation methods for provisioning for Long Term Employee Benefits.

GST implications - Reimbursed Electricity Charges

Posted by CA Roopa Nayak 01 January 2024 11743 Views

BackgroundIn recent times, there has been spate of notices issued by GST dept demanding GST with interest penalty on the reimbursement of electricity charges, c...

Key Differences Between Ind AS 10 and AS 4 in Post-Balance Sheet Events

Posted by CA Rakesh Ishi 01 January 2024 4720 Views

1. Disclosure of Material Non-Adjusting Events Ind AS 10: Requires the disclosure of material non-adjusting events directly in the financial statements. AS 4: M...

12 Risks and Dangers of Artificial Intelligence (AI)

Posted by Aashok Kumar Sharma 01 January 2024 2410 Views

AI's potential dangers are increasing as it becomes more sophisticated and widespread. Geoffrey Hinton, the "Godfather of AI," and tech leaders like Elon Musk have urged a pause on large AI experiments

NFRA Flags Lapses in Walker Chandiok Audit Practices, Raising Concerns for Grant Thornton Network

Posted by CA Aman Rajput 01 January 2024 1857 Views

A recent inspection report by the National Financial Reporting Authority (NFRA) of India has thrown the spotlight on audit firm Walker Chandiok & Co LLP (WCCL), a member firm of the global Grant Thornton network.

TDS deduction under Business and Profession

Posted by anmol bohra 30 December 2023 3142 Views

The Income-tax Law implements a system of tax deduction at the moment of income generation to facilitate speedy and effective tax collection. In this system, Tax is deducted by the payer and is remitted to the Government by the payer on behalf of the payee.

All You Need To About Form 15CA and Form 15CB

Posted by Ishita Ramani 30 December 2023 4792 Views

In the course of business, it happens that many payments are made outside India. When payments are made outside India, there are certain compliances that need to be followed and tax deduction is required for any amount that is taxable under the Income Tax Act.