Service Tax Internal Audit CENVAT Companies Act LLP Basic concept GST GST Registration GST Returns GST Rates Income Tax Salary Income Housing property Business Income Presumptive Income Capital Gain Other Income TDS Return Case Laws Partnership Firm Accounting Definitions Accounting Standards CA Notes IPCC Notes CA Final Notes Rankholder's Interview Management TopCA's Interview

  • Key Concepts in Standard on Auditing 200-299

    SA 200: Overall  Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing

    Objective of audit to obtain Reasonable Assurance about Financial Statements are free from Material Misstatements and express opinion in form of Audit Report.

    Auditor should fulfill Ethical Requirements in Relation to Audit of Financial Statements.


  • Different Types of ROC E-Forms

    Form DIR-3C: - Intimation of Director Identification Number (DIN) by the company to the Registrar DIN services              

    Form CRL-1: - Information to the Registrar by company regarding the number of layers of subsidiaries. 

    Form CRA-2 -Form of

  • CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 by CA. Dinesh Tejwani for CA students and CA professionals

    CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 exams B...

  • Recent Updates in Goods and Service Tax – GST

    Applicability of E - Way Bill on Inter State Basis from 1st April 2018:-

    From 1st April 2018 E – Way Bill

  • Composition Scheme under Goods and Service Tax

    To Reduce Burden of More Compliance of Law and Regulation under Goods and Service Tax Composition Scheme was introduced by Government of India for Small Businesses. It helps small businessmen to concentrate more on business rather than Compliance of Goods and Service Tax. Composition Scheme is defined under section 10

  • Supply in Goods and Service Tax

    Supply means and includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

    Input Tax Credit (ITC) in GST and Utilisation of Input Tax Credit


    Input Tax Credit (ITC) means Integrated Goods and Service Tax (IGST), Central Goods and Service Tax (CGST), State Goods and Service Tax (SGST) and Union Territory Goods and Service Tax (UGST) charged on Supply of Goods or Supply of Service or Supply of Both Made to Tax Payer to use in business and furtherance of his business i.e. Integrated Goods and Service Tax

  • Implication of Securities Transaction Tax (STT)


    Securities Transaction Tax (STT): -Securities Transaction Tax is type of Tax levied on Purchase or Sale of Securities (Equity Shares, Equity Oriented Mutual Fund, and Option Contracts in Securities and Futures in Securities etc.)  through recognized stock exchange. Any Assesse

  • Different Assessment Under Income Tax Act

    Assessment: -Assessment means Assessing Taxable Income of Assessee and Tax Liability their on by Assessee himself/herself or by Assessing Officer. Assessment includes reassessment.

  • GST: A major indirect tax reform

    The introduction of GST in India is now a reality,
    with the Government stepping on the speed
    button to bring in GST live with effect from
    July 2017. A thorough preparedness of the
    organization before the actual implementation
    of GST is the need of the hour. GST proposes

  • Amendments in CGST Rules Since 1 Year Of Implementation of GST & Analysis of Amendment Acts 2018

    Notification No.


    Amendment in CGST Rules

    Changes In


    19th June, 2017

    Introduction of

  • Presumptive Incomes Under Income Tax Act

    Presumptive Income means Calculation of Incomes on Basis predefined Percentage of Receipt  i.e Certain Portion of Receipt is Treated as Income and Rest of Receipt Treated as Demeed Expenditure irrespective of Expenditure is done or not. Assessee may declare Income more then Income as per Calculation based presumptive Income. When assessee declare Income equal to or more then Income defined as Presumptive

  • Different Special  Tax Rates  in Income Tax

     Rate of Tax on Long Term Capital Gain

    When Security Transaction Tax (STT) is Paid: - Any Long Term Capital Gain arises on Sale of Securities (not held as Stock in Trade) through Stock Exchange on which STT is Paid then Rate of Tax will NIL (Exempted from Tax) for Gain Up to Rs. 1 Lakh and Any Long Term Capital Gain arises on Sale of Securities (not held as Stock in Trade) through Stock Exchange on which STT is Paid exceeding Rs. 1

  • Ind AS, IFRS and Indian GAAP: A snapshot of critical areas

    There are many areas of differences between Indian GAAP (the standards issued by the Institute of Chartered Accountants of India [ICAI] and the guidelines issued by the RBI) and Ind AS because current Indian GAAP is driven by “form” in a number of areas rather than “substance,” which is the focus under Ind AS. Certain critical areas that would have a transformational impact on the transition to Ind AS are summarized hereunder:

  • NPS Tax Benefits and Tax Treatment at Maturity (Latest)


    NPS Tax Benefits (Latest)
    This part has not been affected by the latest budget. Only contribution to Tier-I NPS account is eligible for income tax benefits.

    Investment up to Rs 1.5 lacs into NPS in a financial year is eligible for deduction under Section 80CCD(1). Please note this deduction comes under the overall ceiling of Rs 1.5 lacs for deduction under Section 80C. In

  • Handbook on One Person Company(OPC)


    1. Definition of One Person Company (OPC)
    2. No. of Persons Required for formation of OPC
    3. Mandatory Conditions for formation of One Person Company (OPC)
    4. Nominee for OPC
    5. Change of Nominee
    6. Management
    7. Financial Statement of OPC
    8. Meetings...

  • What is Nidhi Company Registration in India

    What is Nidhi Company Registration

    “Nidhi” is a Hindi word, which means finance or fund. Nidhi means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.

  • Handbook on Niti Aayog

    NITI Aayog stands for National Institution for Transforming India. It is a Government of India initiative to replace Planning Commission. NITI Aayog involves inputs from both the central and state governments in policy-making processes. The Prime Minister is the Ex-officio chairman of NITI Aayog. NITI Aayog also consists a governing council. Chief Ministers of all the states, chief ministers of Delhi and Puducherry, Lieutenant

  • Handbook on Bank Audit 2021- Tips For BaNCS

    For a banking sector, composite system / software which handles transactions, customer relations, regulatory compliances, MIS/ reports request is the need of the hour. Core Banking Systems (CBS) provide the solution for the same. There are number of Core Banking Software’s available in the market. More prominent and used in India are FINACLE, FLEXCUBE and

  • Standard on Auditing (SA) 701 Communicating Key Audit Matters in the Independent Auditor’s Report


    Scope of this SA
    1. This Standard on Auditing (SA) deals with the auditor’s responsibility to
    communicate key audit matters in the auditor’s report. It is intended to address both
    the auditor’s judgment as to what to communicate in the auditor’s report and the form
    and content of such