COMPANY LAW Applicability of Cash Flow Statement, CARO (2016 & 2020) & Internal Financial Control Applicability of Cash Flow Statement: – According to Section 2(40) of Companies Act, 2013, The Financial statements of a company include Cash Flow Statement. Cash Flow Statement is governed by The Companies (Accounting Standards) Rules, 2006 (AS 3) and The Read More →

ACCOUNTING & TAXATION Impact of reduction in TDS/TCS Rate As we all know that the government has recently decreased tax deduction at source (TDS) and tax collection at source (TCS) rates for interest, dividend, professionals, rent payments and other non-salaried payments by 25 per cent with effect from May 14, 2020 for the current financial Read More →

Covid-19 has complicated India’s economic slowdown throwing new challenges for both the government and citizens. Cash strapped government has increases taxes on petrol and liquor. People face uncertain job future. As India walks on the exit route from coronavirus lockdown, taxes have started soaring. With the second duty hike – two of the steepest hikes Read More →