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IND AS 116 – LEASES

The Ministry of Corporate Affairs (MCA) has notified Ind AS 116, the new Indian Accounting Standard on Leases as on 30th March 2019. This Ind AS -116 replaces the current guidance in Ind AS-17, ‘Leases’. This amendment is effective from on 1st April 2019.…

adminJanuary 22, 2020December 28, 2020 Audit services No Comments
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Tax On Non-Monetary Perquisites

As a normal practice, it is the employee who bears the tax on the salary earned by it, while the employer withholds such tax on salary and deposits it with income tax authorities. However, sometimes employees move across borders and…

adminJanuary 16, 2020December 28, 2020 Direct tax No Comments
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Sabka Vishwas Legacy Dispute Resolution Scheme

Introduction In theUnion Budget 2019-20, the Honourable Finance Minister Shrimati Nirmala Sitharaman announced the Sabka VishwasLegacy Dispute Resolution (SVLDR) Scheme, 2019, a one-time measure for liquidation of past disputes of Central Excise and Service Tax as well as to ensure…

adminJanuary 8, 2020December 28, 2020 Direct tax No Comments
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