If a Foreign Subsidiary Company takes External Commercial Borrowings (ECBs) from its Holding Company at a lower interest rate compared to the prevailing industry rate. In this scenario:
1. Is this considered a compound financial instrument, requiring accounting treatment as per Ind AS 109?
2. If so, what benchmark rate should be used for valuation, especially when a comparable rate is unavailable?
Further clarification:
a) The company has prepared its financial statements in accordance with Ind AS for the first time (First-time Adoption of IND AS).
b) The company has been in a loss-making position for the last 10-11 years. Therefore, the company is not in a position or eligible to take any borrowings from banks, financial institutions, or other non-related parties. So, what comparable rate should be used if Ind AS 109 is to be applied?

If any professionals or individuals have expertise or experience in handling this particular situation, please provide insights in the comments section below.

Event though we had considered high value transactions while filing the return, still we are getting msg regarding its reporting as per new everification scheme 2021. Is it correct to ignore it if we already shown it?

Sir
in 2012 my friend established a partnership firm as authorised signatory, under VAT registration made FD as surety in Bank of India, after 5 years they shut the business in 2018
but in form 26As of my friend shows Fd since 2017-18 bank also confirm FD but my friend do not have account their do not have any document related Fd
how to get refund(if he opened saving account in same branch possible to transfer FD on his name)
please advise appropriate way to resolve issue

Suppose I purchased a land for Rs. 10,00,000. Stamp duty and registration charges by me for Rs. 1,00,000. Brokerage paid by me for Rs. 10,000. After 2 year I sold this land for Rs. 15,00,000.
What is cost of acquisition of land for calculating capital gain. Weather it is 10,00,000 or 11,10,000 (10,00,000+1,00,000+10,000) or 11,00,000 (10,00,000 +1,00,000) or 10,10,000 (10,00,000+10000) ?

I just want to know time barring date for assessment of individual for FY 2020-21,21-22 and 22-23 along with extract of relevant sections.

I've filed my original return for AY23-24 in the month of July.. have filed larger HRA value by error and got a refund. Now i'm trying to submit an updated return with correcting the HRA value to right value. I'm getting an error while trying to upload the JSON "Caught error description as null". I'm trying to use the desktop utility but i couldn't input the refund that i got during the original filing in Part B ATI. I'm hoping to fix the errors from the previous filing and submit the updated returns asap. I paid the difference amount along with interest already.. but i couldn't add the previous year refund and submit the form.

As our company made loss in financial year 2022-23 Rs. 2.29 crores but in financial years 2020-21 and 2021-22, company made a net profit of Rs. 7.90 crores and Rs. 9.73 crores respectively. During the previous financial year, we contributed for csr activities. Now in the current financial year, do we need to incur any amount under csr activities as per present companies act as we made average profit of more than rs. 5 crores in three previous financial years and also two times out of the last three previous financial years. pl clarify me.

SIR
MR A FILED IT RETURN FOR THE ASST-YEAR 2023 -24 IN JULY 24.ASST-YEAR 2021-22, AND 2022-23 HE FILED NEW REGIME. THE ASST YEAR 2023-24 FILING TIME HE WRONGLY SELECTED FOR WITHDRAW. SO HE FILED FOR OLD REGIME. MY QUERIES IS HE FILED REVISED RETURN NEW REGIME ?

THANKS

Suppose I purchased a land for Rs 10,00,000. Stamp duty and registration charges paid by me for Rs. 1,00,000 and brokerage paid by me for Rs. 10,000. After 2 year I sold this land for Rs 17,00,000.
What is cost of acquision to calculate LTCG. Weather it is 10,00,000 or 11,10,000 (1000000+100000+10000) or 10,10,000 (1000000+10000) or 11,00,000 (1000000+100000).

To
The experts
Two companies say A Ltd (transferor Company) merged with B Ltd(transferee Company).
Both are registered under under employees provident fund act .

What will be the procedure under epf act to transfer all the employees of A Ltd to employees of B Ltd.
Kindly advice.
Regards
Abhijit