RNM: Indirect Tax Alert February 2024
RNM Alert (Indirect Taxes) Nature of Compliances
RNM Tax Alert – Direct Tax Part for February 2024
Jayant Nanda VS. Union of India, [2024] 159 taxmann.com 674 (Delhi) Where based on search at premises of assessee, NRI, it was alleged that assessee had indulged in evading disclosure of a large amount of undisclosed foreign assets/income in offshore jurisdictions and LOC was issued against assessee, since assessee had not been called for investigation by authorities for two years,
Reliance, Disney to Merge India Media Assets to Create $8.5 Bn Powerhouse
Mukesh Ambani led Reliance Industries and Walt Disney announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment juggernaut far ahead of rivals in the world’s most populous nation. Largest Indian conglomerate will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake, with Disney
COMPONENT ACCOUNTING OF DEPRECIATION
DEFINITION As per note 4 Schedule II to the Companies Act, 2013 -“Useful life specified in Part C of the Schedule is for whole of the asset. Where cost of a part of the asset is significant to total cost of the asset and useful life of that part is different from the useful life of the remaining asset, useful
Top CA Firms in India | 2026 Updated List
The top CA firms in India combine sector depth, national reach, and a service range wide enough to support a business from its first year through to an IPO or acquisition. But the “best” firm isn’t the same for everyone. A listed multinational and a five-year-old startup have very different needs, and picking a firm based on reputation alone
RNM ALERT – March, 2024
In this edition we have tried to bring you notice the latest amendment that followed in the month of March, 2024 issued by RBI, CCI and others. RBI Updates Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 RBI has issued a Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 which
TRAS Alert: January 24
In this edition we have tried to bring you notice the latest amendment that followed in the month of December, 2023 issued by MCA, RBI, SEBI, IBBI and others. MINISTRY OF CORPORATE AFFAIRS SECURITIES LAWS AND CAPITAL MARKET Guidelines for AIFs with Respect to Holding their Investments in Dematerialized Form and Appointment of Custodian. Investment made by an AIF shall
Communication with Those Charged with Governance
Scope of SA 260: To Deals with auditor’s responsibility to communicate with TCWG in an audit of financial statements. Who are “Those Charged with Governance” (TCWG): The Person(s) or Organization(s) with responsibilities of for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes those overseeing the financial reporting process and for
Navigating AI Transformations in Finance: UK Insights for 2024
The financial landscape in 2024 is undergoing significant transformations driven by economic shifts, technological advances, and geopolitical influences. The digital transformation is reshaping operations in traditional and neo banks, with AI trends, open banking, and cryptocurrencies playing pivotal roles. Looking back at the lessons from 2023, it’s evident that innovation is critical for financial organizations. Embedded finance, tokenization, and
Indirect Tax News Letter
GST Calendar –Compliances for the month of January’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) February 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) February 10, 2024 GSTR-1 February 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) February 13, 2024 GSTR-6 Input Service Distributor February 13, 2024 GSTR-2B (Auto-Generated Statement) February 14, 2024 GSTR-3B February 20,