News & Resources
Guidelines for RIA’s dated 23 September 2020 issued by SEBI
The earlier notification by SEBI introducing the framework for SEBI (Investment Advisors) (Amendment) Regulations, 2020 dated 3 July 2020 left many questions unanswered of the RIA’s which drew many speculations and interpretations. Our article has been divided into...
Micro, Small & Medium Enterprises (MSME)
Background MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all...
Impact on Physical Inventory Verification due to Covid-19
Background Physical verification of inventory is the responsibility of management of the entity. Management is required to establish procedures under which inventory is physically counted at least once a year to ensure existence, condition, and support valuation of...
Section 194J_Interpretation
Finance Act 2020 - TDS under section 194 J FA 2020 has introduced lower rate of deduction @ 2% instead of 10%, under section 194J, if the service is in the nature of: For the part of royalty, there should be no confusion to understand as it has been categorically...
Valuation Rules 11UA amended
Valuation u/r 11UA (2)(b) of Income-tax Rules, 1962 (‘the Rules’) by a Chartered Accountant removed The valuation rules specified under Rule 11U, Rule 11UA, Rule 11UAA and Rule 11UB for various provisions under the Income-tax Act, 1961 (‘the Act’) cover valuation...
Thin capitalisation
Thin Capitalisation Rules under the Income-tax provisions (section 94B of Income-tax Act, 1961) ‘Thin Capitalisation’ is a situation where an entity is financed at a relatively high level of debt compared to equity. Some multinational companies engage in aggressive...
Tax consideration around the digital era
Digital Era & Chartered Accountancy Profession Back in 2006, when I entered in CA profession, we were thought that CAs are expected to be perfect in their accounting skills. Accounting was considered to be all about accounting standards, be it IGAAP or IFRS, and...