Recent Ind AS & IFRS Updates: 2023-2024 Financial Reporting

19 Mar 2024Assurance

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

13 Dec 2023Assurance

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

29 Nov 2023Assurance

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

26 May 2023Tax

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?

20 May 2023Tax

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

30 Mar 2023Tax

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.…