IAS 101 for deemed cost of Property, Plant and Equipment Issue: Ind AS 101 provides that the net carrying amounts of all of its Property, Plant and Equipment as per previous GAAP can be used as deemed cost on the date of transition to Ind AS. In that case, whether the accumulated depreciation and provision […]
Tag Archives: Income Tax updates
Prime Minister speaks (Mann Ki Baat) on Income Declaration Scheme The Honourable Prime Minister, Shri Narendra Modi, in his radio programme, Mann ki Baat aired on Sunday, 26th June, 2016, advised his countrymen about the benefits of declaring hitherto undeclared assets under this scheme. He asked people to declare their undisclosed income and assets, making […]
Income Tax Returns you should file or Not ? The New Financial year has been started so far and the due dates of efiling of Income tax returns for last financial is now close for individuals and those are not in 44AB,so every one wants to know that they are cover for filing of ITR […]
Income tax department to block PAN, LPG subsidy of tax defaulters In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to “block” Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
e-Insurance Policies norms F .No. IRDAI/Reg/16/128/2016 – In exercise of the powers conferred by section 14 (2) read with clause (gb) of sub section 2 of section 114A of “The Insurance Act, 1938” and subsection (1) of Section 26 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Insurance Regulatory and […]