Every year, minor amendments to the International Financial Reporting Standards (IFRS) are introduced by the International Accounting Standards Board (IASB) by way of annual improvements.…
Deciphering Audit Trail: Frequently Asked Questions
In our previous article, the first of two installments on Audit Trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA)…
Deciphering Audit Trail Understanding key intricacies and requirements
Recently, India became the first country to introduce reporting requirements on the ‘Audit Trail’ to improve transparency and integrity of the financial reporting process.
Key takeaways from Ministerial Decision on Participation Exemption
As per Article 23, specified income from participating interest is exempt from Corporate Tax in UAE (CT). As per Clause 2 of the said Article,…
How angel tax norms for startups may impact on flow of Foreign Direct Investments in India?
The Union Budget 2023, expanded applicability of section 56(2)(viib) of the Income-tax Act, 1961 (the ‘Act’), commonly referred to as angel tax provisions, regarding issuance…
Taxation of non-residents under the UAE Corporate Tax Regime
The UAE has introduced Corporate Tax (CT Law), which would be effective in the UAE from financial years beginning on or after 1 June 2023.…
Amendments to IAS 8
The International Accounting Standards Board (IASB) has issued amendments to Internal Accounting Standard (IAS) 8: Accounting Policies, Changes in Accounting Estimates and Errors. These amendments…
Key Updates on Personal, Corporate and International Tax
The key tax updates and the hits and misses of Union Budget 2023.
If you have a home loan or plan to take one, you are better off with the old tax regime
Irrespective of whether you have already bought a home or are living on rent but planning to buy a house, there is a good likelihood…
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