Amendments proposed in the Faceless Assessment by substituting section 144B of the Income Tax Act, vide Clause 42 of the Finance Bill 2022 (budget 2022-23), to streamline the faceless …
Amendments proposed to introduce TDS at the rate of 10% of the amount of benefit or perquisite of a business or profession, under new IT S. 194R, vide Clause …
To build globally competitive manufacturing environment, a concessional tax regime of 15% taxation was introduced by the Government for newly incorporated domestic manufacturing companies upto 31/03/2023. To continue the …
Amendments proposed for a introducing new provisions in the Income Tax Act to allow filing of updated income tax return (ITR) by the taxpayers on payment of additional tax, …
ICAI has issued an Announcement on 31/01/2022, stating that it is mandatorily required from Members to mention the Firm Registration Number (FRN), during the process of generating the UDIN …
When it comes to preparing financial statements, selecting appropriate accounting policies is crucial to ensure accuracy and transparency. The Institute of Chartered Accountants of India (ICAI) has issued Accounting …
Get a comprehensive overview of alternative accounting treatments and disclosure requirements under AS-1 of ICAI, with real-world examples.
Learn about AS 1 of ICAI and its crucial role in promoting transparency and comparability of financial statements through the disclosure of significant accounting policies.
Learn about the fundamental accounting assumptions that shape financial reporting, i.e. going concern, consistency and accrual basis accounting.
Accounting policies are crucial in financial statement preparation. Learn about their nature and how their disclosure requirements vary depending on the circumstances in which enterprises operate.