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,…

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…

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.…

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…

The key tax updates and the hits and misses of Union Budget 2023.

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…

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…

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…

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…