• July 22, 2025

1. Accounting for Property, Plant, and Equipment (PPE) – Key Cost Components The cost of property, plant, and equipment (PPE) comprises the following: Purchase price, net of trade discounts and rebates Directly attributable costs necessary to bring the asset to its intended location and working condition for operational use The initial estimate of dismantling, removal, […]

• July 21, 2025

Tejas P Shah – [2025] 176 taxmann.com 618 (Article) In computing capital gains and the tax on the sale of shares, it is critical to determine the cost and the period of holding of such shares, where the cost is the price paid to acquire the shares and the period of holding refers to the time […]

• July 19, 2025

Editorial Team – [2025] 176 taxmann.com 577 (Article) World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week: 1. Indonesia introduces withholding tax obligations for e-commerce and online marketplace operators Indonesia issued Ministry of Finance Regulation No. 37 of […]

• July 18, 2025

Editorial Team – [2025] 176 Taxmann.com 555 (Article) Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update: 1. ISSB releases educational material on using industry-based […]

• July 17, 2025

Case Details: J.V.M. Industries vs. State of Uttarakhand - [2025] 176 taxmann.com 162 (Uttarakhand) Judiciary and Counsel Details G. Narendar, CJ. & Alok Mahra, J. Dr. Govind Singh Latwal & Pankaj Tiwari for the Petitioner. Ms Pooja Banga, Ld. Brief Holder for the Respondent. Facts of the Case The petitioner, being the assessee, filed a writ petition seeking […]

• July 16, 2025

Press Release, dated 14-07-2025 1. Nationwide Verification Drive Initiated by the Income Tax Department The Income Tax Department has launched a comprehensive nationwide verification operation targeting multiple locations across India. This initiative is aimed at cracking down on fraudulent practices related to deductions and exemptions claimed in Income Tax Returns (ITRs). 2. Focus on Fraudulent […]

• July 15, 2025

The Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) has released three Tentative Agenda Decisions (TADs) received from the IFRS Interpretations Committee (IFRIC). These decisions address interpretive issues under the newly issued IFRS 18, Presentation and Disclosure in Financial Statements, as well as IFRS 9, Financial Instruments, promoting consistency in […]

• July 15, 2025

Publish Date : Monday, July 14, 2025 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1228/Press-release-ITD-Cracks-Down-on-Bogus-Claims-of-Deductions-Exemptions-dated-14-07-2025.pdf source

• July 14, 2025

Fund-based instruments are financial instruments through which banks or financial institutions provide direct credit or funds to borrowers. These instruments involve actual outflow of funds and are typically used by businesses and governments to meet working capital needs, infrastructure development, or other financing requirements. Table of Contents Indian Fund Based Bonds Check out Taxmann's Strategic […]