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To improve international accessibility and openness for Indian businesses, a set of financial reporting guidelines known as Indian...

Accrual and receipt are the two criteria that determine whether income is taxable. Money is subject to taxation in any nation based on...

Many financial transactions are documented in a company's financial statements. Some are done only to monitor the funds, while others are...

As a business owner, you must monitor several additional things besides your financial transactions to ensure smooth operations. Auditing...

A special tax known as a cess is imposed in addition to other taxes already in place. Funds are raised by the central government for...

A balance sheet is defined as a type of financial statement that determines the assets and liabilities of a business as of a specific...

Additional depreciation is a tax deduction that allows businesses to claim an extra percentage of depreciation on top of the regular...

The government is very worried about tax evasion, and one of the many strategies used to monitor citizen incomes is keeping a book of...

According to Section 138 of the Negotiable Instruments Act, 1881 ("Act"), bouncing a cheque is a crime that carries a maximum two-year...

Section 43B of the Income Tax Act plays a crucial role in regulating how businesses claim deductions for certain expenses, such as...