Explore the comprehensive definition of "company" under Section 2(17) of the Income Tax Act, 1961, encompassing Indian and foreign entities, deemed institutions, and their tax implications for accurate compliance.
Understanding the difference between 'business' and 'profession' is crucial for taxpayers in India. This distinction impacts various aspects of taxation.
Understand Section 2(11) of the Income Tax Act. Learn what a block of assets is, its purpose, depreciation rules, and key compliance tips.
Learn about approved gratuity and superannuation funds under the Income Tax Act, 1961. Understand tax benefits, compliance rules, and key limits for Indian employers and employees.
AS 23 of ICAI explained for accountants and finance professionals: equity method procedures, associate definitions, consolidation requirements, and disclosure rules.
AS 26 of ICAI covers recognition and measurement of intangible assets under Indian GAAP. Learn rules, examples, disclosures, and compliance essentials.
A clear and practical guide to Accounting Standard (AS) 27 of ICAI on financial reporting of joint ventures, including forms of joint ventures, accounting rules, disclosures and proportionate consolidation.
A comprehensive guide to AS 28 of ICAI “Impairment of Assets”, its objective, scope, indicators, measurement, recognition, reversal, disclosures and practical application for students, accountants & business owners.
A comprehensive guide to Accounting Standard (AS) 29 of ICAI, covering recognition, measurement/disclosure of provisions, contingent liabilities/ assets under the accounting standards.
A simple and clear summary of the CARO 2020 Guidance Note. Learn its key features, applicability rules, auditor responsibilities, Schedule III links, and clause-wise guidance. Ideal for audit and …