Income Tax Exemption on Financial Assistance for Treatment of COVID or on Death Due to COVID By CA Prakash Hegde Background Due to COVID-19, the world is tremulous, which was not witnessed by the present generation. More than 4 million people have lasted their breath globally in the last 18 months on account of this […]
Can the composition dealer under the Karnataka VAT law applies for Composition scheme in GST law By CA Sanjay Dhariwal and CA Annapurna Kabra The scheme of composition is existing only in Karnataka VAT law and not in other State law and continued in GST law also. The GST law also provides the option of […]
THE LATEST IN FINANCIAL REPORTING CA Vinayak Pai V INTRODUCTION Fast paced changes continue in the core IFRS space. The latest addition to the IFRS authoritative literature is IFRS 17 – Insurance Contracts that was issued by the International Accounting Standards Board (IASB) a fortnight back. It may be noted that as per a […]
JOB WORK UNDER CGST ACT 2017 By CA. Ganesh V. Shandage, Belagavi. Prelude: Job work is very common in the industry. A large number of manufacturing industries like automotive industries are dependent on outside support for completing their manufacturing activities. These large manufacturing companies these days stick to their core competencies and get most of […]
GST TRANSITIONAL PROVISIONS – Series 2 CA Raghavendra C.R., Advocate & CA Bhanu Murthy J.S., Advocate This articles is a continuation of our analysis of the transitional provisions under GST from the last edition and we propose to analyse the miscellaneous transitional provisions under CGST and IGST law covering the aspects relating to job work, return […]
GST impact on Banking sector By CA Madhukar.N.Hiregange & CA Mahadev.R GST was recommended in 1978 and could see the light on 1st July 2017. GST which would replace 11 indirect taxes in India has impact on all major business sectors. Banking industry would get impacted significantly. Obtaining separation registration in each State, identifying inter-state […]
Investing in Alternative investment Funds (AIF) BY CA.S.KRISHNASWAMY Alternative investment funds as the name itself suggests are alternate to traditional form of investments. The AIF regulations is an attempt to extend the perimeter of regulation to hitherto unregulated funds, so as to ensure systemic stability ,increase market efficiency, encourage formation of new capital and provide […]
Equalisation Levy and Compliance By CA Prakash Hegde and CA Raghavendra N. In the last month’s bulletin, we discussed the meaning of BEPS, the final Action Plans and India’s initiatives in relation to these Action Plans. Now, let us discuss Action Plan 1 of BEPS Action Plans relating to Digital Economy and India’s action in […]
A much awaited relief to non-residents on non-furnishing of PAN By CA Prakash Hegde and CA Raghavendra N. The provisions of Section 206AA of the Income Tax Act (‘Act’) require that when a person (recipient/deductee) is entitled to receive any amount from another person (payer/ deductor) and if that amount is subject to Tax Deduction […]
BEPS and India’s Actions By CA Prakash Hegde and CA Raghavendra N. What is BEPS ? Base Erosion and Profit Shifting (‘BEPS’) refers to tax planning strategies adopted by Multi-National Companies (‘MNCs’) that exploit gaps and mismatches in tax rules, to make profit ‘disappear’ for tax purpose or shift profits to jurisdictions, where there is […]
