CAclubindia Articles

Assessment of incriminating material found during Income Tax Search u/s 153A

CA.Mohit Gupta 28 November 2021 at 18:12

Section 153A provides the procedure for completion of assessment in case of a person where a search is initiated under Section 132 or books of account or other documents or any assets are requisitioned under Section 132A after 31st May, 2003 but on or before the 31st Day of March'2021.

FAQs on Signing of Financial Statements Post COVID-19

Tanuj Chandra Saxenaa 28 November 2021 at 18:11

In the series of FAQs in this article, we have considered the critical issues around financials of a company under the Act and LODR vis-à-vis COVID-19 and have provided certain check points that the directors and the management need to adopt

Applicability of AS 3: Cash Flow Statements

Tanuj Chandra Saxenaa 28 November 2021 at 18:10

Cash flow statements are to be prepared by all companies but the act also specifies a certain category of companies which are exempted from preparing the same. Such companies are One Person Company (OPC), Small Company and Dormant Company.

Resignation of Auditor under Companies Act 2013

Tanuj Chandra Saxenaa 28 November 2021 at 18:09

Auditors work in various capacities within different industries. Auditor appointment and resignation all are to be served to Registrar of Companies.

Useful Tally Prime Shortcut Keys Combinations

Neethi V. Kannanth 27 November 2021 at 09:36

Most Needed Shortcut Keys For Tally Prime

What are the ROC Compliances under the Companies Act?

Taxblock 27 November 2021 at 09:24

Companies Act, 2013 provides for compulsory annual filing for all the company which are incorporated under Companies Act, 2013 or any other previous act and for all LLP under Limited Liability Partnership Act, 2008. The filing with ROC can be done once in a year or on the happening of any event.

Whether sum paid through MODVAT credit is not allowed as deduction u/s 43B

FCS Deepak Pratap Singh 27 November 2021 at 09:24

Section 43B(a), deduction is allowed on "any sum payable by the assessee by way of tax, duty, cess or fee." The scheme of s. 43B is to allow deduction when the sum is actually paid.

Overview of Virtual Meeting

Taxblock 27 November 2021 at 09:24

A meeting held totally by means of either Video conferencing or other audio-visual means is known as Virtual Meeting.

Overview of Related Party Transactions

Taxblock 27 November 2021 at 09:23

The meaning of the word 'Related Party' is given under Section 188 of the Companies Act, 2013

What is the best time to study for your exams as per experts?

Sazal Sharma 26 November 2021 at 09:44

With the everyday stresses of life, it's difficult for anyone to find time to study, especially whenever we're talking about college students or those who have jobs on the side. All of this leads to the question of when is the greatest time to study, when can they get the most done in the least amount of time?