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
10 May 2022Tax
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…
IFRS amendments applicable from 1 January 2022
17 Mar 2022Assurance
International Accounting Standards Board (IASB) has announced amendments to International Financial Reporting Standards (IFRS) which are applicable for reporting periods beginning on or after 1…
Education Cess not allowed as deduction with retrospective effect
12 Feb 2022Tax
Section 40(a)(ii) of the Income Tax Act, 1961 (‘Act’) provides for disallowance of any rate or tax levied on profits or gains of any business…
Tax Litigation Management – New Way to Reduce Litigation on Repetitive Matters
12 Feb 2022Tax
India has a multi layered dispute resolution mechanism. Over the years, tax appeals pending for disposal are ever...
Amendments to CSR activities for the year 2020-21
31 Aug 2021Assurance
The ethos of philanthropy in India is age-old, spanning thousands of years, and the act of 'giving' is integral to this culture. ...
20 May 2021Assurance
CARO (Company Auditor's Report Order) 2016 was replaced by CARO 2020 for the statutory audits commencing on or after 1 April 2020.
16 Mar 2021Assurance
New Delhi unveiled India's much-anticipated annual budget this month, with a heavy focus on repairing a pandemic-battered economy and made a surprise move: it made…
16 Mar 2021Tax
Budget 2020 abolished Dividend Distribution Tax (DDT) and dividend taxation was shifted on shareholders. Resident Shareholders were liable to pay tax on dividend as per…
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