CAclubindia Articles

Rule of Contra Proferentum under insurance

FCS Deepak Pratap Singh 29 November 2021 at 09:41

An insurance contract (General Insurance) is a contract of indemnity and insurance company is liable to pay the loss occurred by the insured due to happening of insured risk/perils.

What is tax planning and why it is so important for individuals or businesses

Taxblock 29 November 2021 at 09:40

Tax planning is a process of analyzing one's financial situation during the year and coming up with various exemptions and deductions that reduces tax liability in a legitimate manner.

Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP)

Taxblock 29 November 2021 at 09:40

Scheme for Remission of Duties and Taxes on Exported Products (RODTEP) was launched in 2020 from 1st January 2021 through the ministry of commerce and industry Govt. of India. This scheme is applicable to the export of products but not services.

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.