CA KAMAL GARG

  Accounts And Audit Accounts  Accounts - Importance,  Form of Accounting Records etc Holding-Subsidiary Accounts and Consolidation Preservation of Records by the Companies Cash Flow Statement Financial Year Authentication, Circulation and Revision Of Financial Statements Director's Responsibility Statement Other  Important Matters Audit Appointment of Auditors Remuneration of Auditors Rotation of Auditors Provision of Non-Audit Services Disqualification of Auditors Duties and Liabilities of Auditors Powers of Auditor of a Holding Company Certification of Internal Control by CEO/CFO Cost Audit Audit of Government Companies 1. Accounts  1. Importance, Form of Accounting Records etc Proper and accurate compilation of financial information  of a corporate and  its disclosure, in a manner that is standardized and understood by stakeholders,  is central to the credibility of the corporates and  soundness of investment decisions by the investors.  The preparation of financial informati

  Dear Friends,   Central Board of Indirect Taxes and Customs (CBIC) vide notification no. 39/2021 – Central Tax dated 21 st  December, 2021 have clarified that the below indicated changes will be applicable from 01.01.2022  :-   1. NO ITC UNLESS REFLECTED IN GSTR 2A/2B Input Tax Credit shall not be available unless details of invoices uploaded by supplier in Form GSTR-1 are communicated to the recipient (i.e reflected in GSTR 2A/ 2B). Margin of 5% will no more be available.   2. DIFFERENCE B/W GSTR -1 & 3B: DIRECT RECOVERY Section 75(12) is amended to provide that tax declared under GSTR-1 but not included in GSTR-3B, will be considered as “Self Assessed Tax” and hence, direct recovery of such tax under Section 79 will be possible even without issuing any Show Cause Notice.   3. E-WAY BILL: 200% PENALTY TO RELEASE GOODS At present, full tax and 100% penalty is required to be paid to release the goods which are seized for violation of E-way Bill related provisions and for non-carry

Once you decide to buy a plot, make sure you have all documents in place. Without these, your purchase will be delayed. Having all the proper legal documentation will help protect your land and home from any disputes in the future. Consult a lawyer to help you with every step of the documentation process. Most of the required documents can be grouped into two types - legal and personal. Legal documents: These documents are essential, and missing even one of these can result in a delay in purchase. They include: - Mother Deed:  This is taken from the seller. The Mother Deed is the main document to determine ownership of the property. It traces the land’s chain of ownership and provides information about the history of the plot. Sales Deed:  The Sales Deed records the transfer of land ownership from the seller to the buyer. You can get it validated at the sub-registrar's office. Power of Attorney(POA):  If the seller of the land is not the owner, they should have a Power of Attorney

CA Assisted Income Tax Return filing for Individuals and HUFs having income from F&O/ Derivatives Trading. Plan Includes Review of  F&O/ Derivatives Trading Statement  from  Single Investment / Demat Account . Review of Bank Statements Preparation of Profit & Loss Statemen t Preparation of Balance Sheet Review Brought Forward and Current Year Losses Income from Salary, House/Property, Capital Gains & other sources Filing Form-10IE to opt-in/opt-out for new tax regime Choosing a favorable option between the old tax regime and the new tax regime Chapter VI-A deductions - LIC, EPF, PPF, ELSS & other MFs, Medical, Principal on House property, etc. Determine Residential Status Documents Require PAN Aadhaar F&O Trading Statement Bank Statements Form 16 or 16A Investment Proofs Other supporting documents Who should Buy? Traders who have Single Investment / Demat Account. Self employed traders  having income or loss from F&O / Derivative trading Salaried individuals

FRAMEWORK OF  CHAPTERS - UNIFORM STRUCTURE COMPRISING  OF SPECIFIC COMPONENTS 1. Learning Outcome 2. Chapter Overview 3. Content of each chapter 4. Illustrations involving conceptual understanding 5. Summary 6. Test your knowledge CONTENTS: 1. Theoretical Framework     - Meaning and Scope of Accounting     - Accounting concepts, Principles and Conventions     -  Accounting terminology - Glossary     - Capital and Revenue Expenditure And  Receipts      -  Contingent Assets and Contingent Liabilities     -  Accounting Policies     -   Accounting as a Measurement Discipline          - Valuation Principles          - Accounting Estimates     -  Accounting Standards- Concepts and Objectives     - Indian  Accounting Standards- Concepts and Objectives 2. Accounting Process     - B ooks of Accounts          -  Basic Accounting Procedures- Journal Entries          -  Ledgers     - Preparation of Trial Balance     - Subsidiary Books     - Cash  Book     - Rectification of Errors 3. Bank Reconcil

 What are your Financial Goals? This depends on  your age and  your money requirements at different stages of your life. Secondly, consider your asset allocation.  That is out of the total money that you want to invest -   - How much should you put into Equity Investments of a stock market and  - How much in Debt Investments like - Insurance, Fixed deposits and then  - How much in Other Investments such as Real Estates, Gold and so on.. This is called Portfolio Diversification or in simple words, it ensures that you do not put all of your eggs into one basket. So even if one Asset class does badly, your risk is spread out over other asset classes. To help you understand the importance of managing your portfolio and how to plan your asset allocation, it might be a good idea to consult a certified financial planner.  How important is it to take your financial goals into account before deciding how much to invest.   Financial Goals are like a destination.  That's where we want to go?

 In today's post we will introduce you the Financial Derivatives in the Indian Financial Market. So, What exactly is a Financial Derivative??  Derivatives are Financial Instruments that derive their value from other existing Asset Classes. The term Derivatives indicates the instruments derives its values entirely from the asset it represents. Given Below are the type of Asset Classes :  - Equity,  - Bullion,  - Currency,  - Commodity,  - Realty,  - Rate of Interest and  - Livestock. When you invest in Derivatives ,  you actually place a Bet on whether the value of the asset represented will increase or decrease  by a certain percentage and within a set period of time. There are 3 types of participants in a Derivatives Market: 1. Speculators - Speculators are the High Risk Takers . they take risk to earn profits by Buy in low and Sell in High or First Sell in High and later Buy in Low. 2. Hedgers - Hedgers are cautious players who protect themselves from risk by closely watching p

How do you decide what you want to buy ? and what you want to sell ? That's what we are going to take you through today! The very Basics of  - How to value the price of stock and  - How to judge the current and future growth of companies   - That you want to invest in .  An introduction to what is popularly known as the fundamental analysis of the company  Fundamental Analysis of a stock can simply be viewed as   An Extensive Health Check Of the Company or 360 Degree Check On Various Parameters: - Be it the Financials, - Quality Of Management, or  - The Overall Economy And the Industry Conditions That might Effect the Performance Of the Company. So let's start by  understanding some of the popularly used financials ratios  to judge the health of a company. One of the first thing you should focus on the Earnings Performance of the company How has the company delivered on earnings over the past few years..  And What Are Its Earnings Expectations Over the Next Few Years.. You

Under PM Kisan Samman Nidhi Yojana,  The Central Government of India directly transfers ₹ 6000 to the bank account of a registered farmer which is to be deposited in three equal installments of ₹ 2000 in a financial year.  भारत की केंद्र सरकार एक पंजीकृत किसान के बैंक खाते में सीधे ₹6000 हस्तांतरित करती है जिसे एक वित्तीय वर्ष में ₹2000 की तीन समान किश्तों में जमा किया जाना है। The objective of this Yojana is to increase the income of the farmers of the country and directly help them financially. इस योजना का उद्देश्य देश के किसानों की आय में वृद्धि करना और सीधे उनकी आर्थिक मदद करना है। The last installment which is the 9th installment of the Yojana is deposited on 9th August and  now all the farmers are looking for its next i.e. 10th installment and according to the media reports, the farmers will get their 10th installment by 15th December 2021.  One can expect but no announcement has been made by the officials in this regard yet. अंतिम किस्त जो कि योजना की 9वीं किस्त है, 9 अगस्त को ज

Content 1. What is meaning of Person? 2. Source and Residence Rules 3. Meaning and Scope of Total Income - Section - 2(24) and 5 4. Income deemed to accrue or arise in India? - Section - 9 5. Meaning and Scope of Royalty Income 6. Meaning and Scope of Fee for Technical Services (FTS) 7. Tax Treatment for Royalty and FTS as per Income Tax Act, 1961 8. Tax Treatment for Royalty and FTS as per DTAA 9. Summary Every person is liable to pay income tax in respect of his total income, as per Income Tax Act, 1961. “Person” includes an individual, a Hindu undivided family, a company, a firm, an association of persons or a body of individuals (whether incorporated or not), a local authority and every artificial juridical person not falling within the above categories. For determination of taxability, the Act in general, follows a combination of the “source” and “residence” rules .  Whereby  “source”  of  the  income  determines  its  taxability  in  the  hands  of  the assessee (regardless of

Accounting treatment in case of offset of tax liability - GST S. No. Particulars Debit ( ` ) Credit ( ` ) Reference (I) Transfer of output liability to E-liability ledgers upon filing of GSTR-1     Output SGST A/c Dr. ****   B/S   Output CGST A/c Dr. ****   B/S   Output IGST A/c Dr. ****   B/S   Output Cess A/c Dr. ****   B/S       To E-liability Ledger CGST A/c     **** B/S       To E-liability Ledger SGST A/c     **** B/S       To E-liability Ledger IGST A/c     **** B/S       To E-liabil