Table of Content Ind AS 116: Leases Ind AS 109, Financial Instruments Ind AS 12, Income Taxes: Ind AS 19, Employee Benefits Ind AS 28, Investments in Associates and Joint Ventures: On March 30, 2019, the Ministry of Corporate Affairs (MCA) notified certain amendments to Indian Accounting Standards (Ind AS). All these amendments are effective…

Table of Content Nidhi Company Registration General Prohibition What all are allowed to Nidhi Companies Limited RBI Regulations Exemptions and privileges under the Companies Act, 2013 Acceptance of Deposits Loan Returns to be filed by Nidhi Company In the context of the Indian Financial Sector a mutual benefit society is termed as Nidhi Company by…

Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhi) Ministry of corporate affairs came up with some amendments in existing Nidhi Rules, 2014 through a Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019. With this…

As we all know, the provision of sub-section 194-I of the Act, inter alia, provides for tax deduction at source (TDS) for payments in the nature of rent beyond a threshold limit. The existing provisions provide threshold of Rs. 240000 per financial year for deduction of tax under this section. In spite of providing higher…

Table of Content What is GST E-Invoice System? Latest Update: GST e-Invoicing Trial Version Released Applicability of GST E-Invoice System Process to Generate GST E-Invoice New Update for E-invoicing Under GST System What is GST E-Invoice System? GST e-invoice is the introduction of the digital invoice for goods and services provided by the business firm…

The RBI has different tools through which it injects liquidity into financial markets. Recently on 12 March 2020 Reserve Bank of India (RBI) announces sell-buy swap, for 6 months which means the central bank will sell dollars in the market now and buy them back six months down the line to increase the supply of…

Table of Content Setting up a Liaison Office or Representative Office Project Office A Branch Office of the Foreign Company A Foreign Company can be incorporated in India by complying with the provisions of Companies Act, 2013.Following are the ways through which one can set up Foreign Company As an Indian Company registered under Companies…

Table of Content Recent Amendments under CARO Companies covered under CARO 2020 Matters to be included in auditor’s report Comparison between CARO 2016 and CARO 2020 Recent Amendments under CARO Ministry of Corporate Affairs (MCA) has made certain changes in companies (auditor’s record) order vide its notification dated 25th February 2020, and has published Companies…

BUSINESS IN INDIA Foreign Company according to the Companies Act 2013 is defined as any company or body corporate incorporated outside India, which has a place of business in India whether by itself or through an agent, physically or by electronic medium; and, conducts any business activity in India in any other manner. However there…

Table of Content Who is required to file? Payment of Advance tax How to file Advance Tax Penalty or late fee Refund in case advance tax paid is more than required Advance tax is a form of income tax that an individual requires to pay before the end of financial year in case your tax…

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