CAclubindia Articles

Taxation Aspect of Mergers and Amalgamation

Posted by CMA. CS. Sanjay Gupta 25 April 2023 473234 Views

Taxation Aspects of Mergers and Amalgamations Under Income Tax Act, 1961 Section 2(1B) of Income Tax Act defines amalgamation as merger of one or more companies with another company or merger of two or more companies to from one c

XBRL in India - Applicability, Documents, Timeline, Process, Penalty etc.

Posted by Narendra Shah 25 April 2023 7002 Views

XBR is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet.

Web-based Form DPT-3 as per New Rules

Posted by Affluence Advisory 25 April 2023 9283 Views

Ministry of Corporate Affairs "MCA" has vide its notification dated 29th August, 2022 amended the Companies (Acceptance of Deposits) Rules, 2014 and introduced the new Web-based form DPT-3 under section 73 of Companies Act, 2013.

Lessons for auditors on professional conduct

Posted by Rashmi 25 April 2023 3183 Views

The National Financial Reporting Authority (NFRA) in India has imposed a penalty of ₹300,000 on the statutory auditor of now-de-listed company SRS Ltd, along with a three-year ban on taking up statutory or internal audits of any company, for alleged professional misconduct and lapses in the FY18 audit of the company.

Crucial Difference Between Bona Fide Non-Compliance and Mala Fide Non-Compliance

Posted by Abhishek Raja 25 April 2023 63784 Views

Section 129 of Indian GST Laws: The Crucial Difference Between Bona Fide Non-Compliance and Mala Fide Non-Compliance and How it Affects the Action Taken by the Proper Officer?

Hail! Principles Of Natural Justice!

Posted by T.R.Radhakrishnan 25 April 2023 2134 Views

The judgment raises a pertinent point whether it is time to review of the bank recovery Acts to judge how the principles of natural justice is being implemented and make changes, if necessary, as has been done in the aforesaid judgment.

Deductions available under Old vs. New regime of Income Tax

Posted by CA. Brijesh Baranwal 25 April 2023 30965 Views

This article covers the deductions available in Old Vs. New tax regime, in brief, should help in making the required choice. This is applicable from 01.04.2023 i.e. for FY 2023-2024 or say AY 2024-2025.

An Overview of IND AS 41

Posted by CA Sanat Pyne 25 April 2023 8157 Views

IND AS 41 is a standard issued by the Institute of Chartered Accountants of India (ICAI) that provides guidance on the accounting treatment for agricultural activity. The objective of IND AS 41 is to ensure that the financial statements of entities engaged in agriculture provide relevant and reliable information about their agricultural activities.

How to Claim Refund of GST on Cancelled Flat or Real Estate Property by an Unregistered Dealer

Posted by Meghna Jitesh Telisara 25 April 2023 8039 Views

An unregistered buyer who decides to cancel the agreement to purchase a flat can claim GST refund paid by him from the builder or the government depending upon the timeline of the cancellation of such agreement.

Companies need to file MSME payment data before 30th April 2023

Posted by CA Umesh Sharma 24 April 2023 16566 Views

Every year, all company taxpayers need to file form MSME-1 by a notification dated 2nd November 2018 but it holds a huge significance this year as the payments would be disallowed by the Income Act authorities if payment is not made within 45 days.