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…
Ind AS 117 Insurance Contracts: An Overview
Globally, IFRS 17 replaced IFRS 4 as the primary accounting framework for insurance contracts. IFRS 4, introduced in 2004, was meant to be an interim…
Updated Return – additional window for income tax return compliance
In recent times, the reduction in time limits for filing belated or revised income tax returns provides taxpayers a short timeframe to rectify the inadvertent…
Reassessment Controversy – put to an end!
The Finance Act 2021 revamped the reassessment process effective 1 April 2021. In early FY 2021-22 the tax authorities had issued more than 90000 notices…
Extending Trade Credit to an associated enterprise can not be equated to the loan facility; Mumbai Tax Tribunal
Tech Mahindra Limited (taxpayer) is an Indian multinational information technology services and consulting company1. Part of the Mahindra Group, the company is headquartered in India.
MCA extends timelines for CSR-2 filing and implementation of the audit trail feature
On 11 February 2022, the Central Government notified amendments to Companies (Accounts) Rules, 2014. The amended Rules apply to companies required to undertake Corporate Social…
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