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[Illustrative Checklist] Disclosure Requirements under AS 24 | Discontinuing Operations
The objective of AS 24, Discontinuing Operations, is to establish principles for reporting information about discontinuing operations, thereby enhancing the ability of users of financial statements to make projections of an enterprise’s cash flows, earnings-generating capacity, and financial position by segregating information about discontinuing operations from information about continuing operations. This Standard applies to all […]
Amendment in Income tax Rules, 1962, insertion of new rule 133 for prescribing calculation of net winnings for online games, notification of form 16 and others
Publish Date : Monday, May 22, 2023 source
Clarification regarding provisions relating to charitable and religious trusts
Publish Date : Wednesday, May 24, 2023 source
HC Can’t Entertain Writ as Petitioner had an Alternative Remedy under SARFAESI Act
Case Details: Yaddala Kriashnaveni v. State Bank of India - [2023] 150 taxmann.com 195 (HC-Andhra Pradesh) Judiciary and Counsel Details D.V.S.S. Somayajulu & V. Srinivas, JJ. Facts of the Case In the instant case, the borrower availed loan from the respondent bank. In order to secure the said loan, the borrower mortgaged its immovable properties. […]
Ind AS Schedule III Checklist | Presentation & Disclosure of Other Equity in the Financial Statements
The presentation and disclosure of other equity in the financial statements are critical aspects of financial reporting under the Indian Accounting Standards (Ind AS) Schedule III. Other equity represents the portion of a company’s shareholders’ equity that is distinct from share capital and retained earnings. It comprises various items such as share premium, revaluation reserve, […]
Notification No. 30/2023 [F. No. 370142/9/2023-TPL (Part-I)] / SO 2275(E)
Publish Date : Wednesday, May 24, 2023 source
CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities
Publish Date : Friday, May 19, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1138/Press-Release-Changes-Proposed-To-RULE-11UA-And-Consequent-notifications.pdf source
Notification No. 29/2023 [F. No. 370142/9/2023-TPL (Part-I)] / SO 2274(E)
Publish Date : Wednesday, May 24, 2023 source
Transfer Pricing Litigation | Insights from the Post SC Decision in SAP Labs
Table of Contents Principal CIT v. Softbrands India Pvt. Ltd. ([2018] 94 Taxmann.com 426/406 ITR 513 (Kar. HC)) SC Decision in SAP Labs India Pvt. Ltd. v. ITO [2023] 149 Taxmann.com 327 (SC) Two Subsequent SC Decisions Areas of Litigation and Possible Approach 1. Principal CIT v. Softbrands India Pvt. Ltd. ([2018] 94 Taxmann.com 426/406 […]
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