Key Highlights on the New Companies (Indian Accounting Standard) Amendment Rules
0 The Ministry of Corporate Affairs (MCA) vide Notification dated 18 June 2021 has issued new Companies (Indian Accounting Standard) Amendment Rules, 2021 in consultation with the National Financial Reporting Authority (NFRA). The notification states that these rules shall be applicable with immediate effect from the date of the notification. This means that the amendments … Read more Key Highlights on the New Companies (Indian Accounting Standard) Amendment Rules
MCA removes restrictions on conducting board meetings via video conferencing
0 Table of Contents Introduction Timeline of amendments w.r.t. meetings via video conferencing Provision regarding Board Meetings through Audio-Visual means Procedures for Convening and Conducting Board’s Meetings Conclusion 1. Introduction The MCA vide. Notification No. G.S.R. 409(E). Dated 15.06.2021, has notified the Companies (Meetings of Board and its Powers) Amendment Rules, 2021, which seeks to amend the … Read more MCA removes restrictions on conducting board meetings via video conferencing
Measurement of Property, Plant and Equipment (PPE) – Outline
0 Contents: Introduction Initial Measurement of PPE In Case of Purchase of PPE In Case of Self-Construction of PPE In Case of Exchange of PPE Subsequent Measurement of PPE Subsequent Measurement when PPE is Held for Sale Conclusion 1. Introduction Property, Plant, and Equipment (PPE) are fixed assets that are used in business to generate revenue. … Read more Measurement of Property, Plant and Equipment (PPE) – Outline
What are the Functions, Duties, and Powers of NFRA (National Financial Reporting Authority)
0 Table of Contents: Summary Functions & Duties of NFRA Recommending Accounting Standards and Auditing Standards Advisory Committees, Study Groups, and Task Forces Financial Reporting Advocacy and Education International Associations and International Assistance Confidential and Security of Information Avoidance of Conflict of Interest Powers of NFRA [Section 132(4)] 1. Summary The functions, duties, and powers … Read more What are the Functions, Duties, and Powers of NFRA (National Financial Reporting Authority)
Relaxations for Senior/Super Senior Citizens under the Income Tax Act
0 An individual who is a resident in India will be regarded as a senior citizen if he has attained the age of 60 but less than 80 years at any time during the year. In addition to this if his age is 80 years or more at any time during the previous year then … Read more Relaxations for Senior/Super Senior Citizens under the Income Tax Act
