CBDT has clarified that no seizure should be made by the Search Party of the Jewellery and Ornaments found during the course of search proceedings under Section 132 of the IT Act,1961, where the same have been duly declared in the Wealth-tax returns.
08 January 2021 at 16:36
Proper inventory control enables successful cost control of operations. In this article, we discuss some of the potential risks, data analysis and exception tests that an organisation can implement, for effective inventory management.
The validity of e-way bill under Rule 138(10) of the CGST Rules has been amended, according to which the e-way bill will now be valid for 1 day for every 200 km of travel, as against 100 km earlier.
In this article, we discuss all about Section 194 of the Income Tax Act 1961, which deals with TDS on Payment of Dividend, including its threshold limit, rate of TDS and a tabular summary of the entire section.
In this article, we understand all about AS-26 which deals with Intangible Assets including its meaning, applicability, exclusions, initial measurement and difference between AS-26 and AS-38.
The Companies Act, 2013 first time came up with the new provision of converting the loan into equity pursuant to Section 62 (3) of the Companies Act, 2013.
Amid restrictions and precautions, let's have a look at how the economy at large is affected. More particularly let's talk about sectors such as Real Estate & Infrastructure, FMCG, IT Sector, etc.
What we often ignore while checking our books of accounts is the impact of TDS/TCS under income Tax Act with Goods and Services Tax. In this article, we discuss the same in three subsets.
In this article, we discuss the computation of Provisional ITC in FORM GSTR-3B as per the CGST Rule 36(4) including, computation as per Books of Accounts and GSTR-2B, and claim of balance ITC.
Rule 86B has been introduced with an intention to curb unfair practices by traders to avail ITC and stop creating fake invoices to increase the turnover without any financial credibility.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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