“Why do you need an accountant?” generally, the answer to this question is given as “To keep the accounting of the company and to fulfill the liabilities against the finance”. Accountants are positioned as sort of “tax accountants”. However, most of the time your needs are not limited to “tax accounting”. Your needs and expectations…
In the Pre-GST era, many debatable issues had been settled by various high court judgments. Among the various issues, one of the burning issues, which was highly debatable even before GST came into the picture was whether ITC would be allowed to the recipient on default of the supplier for non-payment of tax to the…
Depreciable amount is: Cost of an asset less Residual value. The depreciable amount of an asset should be allocated on a systematic basis over its useful life. Depreciation Method The depreciation method used should reflect the pattern in which the future economic benefits of the asset are expected to be consumed by the enterprise. The…
