IndiaLaw by assureOffice

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Practical Indian tax, financial reporting, labour, state law and business compliance guides for CAs, accountants and businesses.

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312 articles
Schedule 3 Corporate vs Non-Corporate, ICAI Guidance Note, ₹5 Crore Turnover Rule, MSME Format

Schedule 3 for Companies vs ICAI Non-Corporate Financials Format: Key Differences, Limited Disclosures & ₹5 Crore Turnover Rule

A definitive comparative analysis of Schedule 3 for Companies (Companies Act, 2013 Division I) versus the ICAI Guidance Note on Financial Statements of Non-Corporate Entities and LLPs. Explains the turnover-based phased applicability (>₹5 Crore from FY 2025-26, all entities from FY 2026-27), MSME classification, limited disclosures in non-corporates, and automated preparation in assureFinancials.

By Team assureOffice
Section 16 Salary Deductions: ₹75,000 Standard Deduction & Professional Tax

Section 16 Deductions from Salary Income: Enhanced ₹75,000 Standard Deduction (New Regime), Professional Tax, and Pensioner Rules Guide

A practitioner guide to section 16 salary deductions for FY 2024–25, with a separately identified FY 2025–26 comparison: standard deduction, government entertainment allowance, lawful employment-tax payments, pension classification and multiple-employer reconciliation.

By Team assureOffice
Section 43B(h) MSME 45-Day Payment Rule & Form 3CD Clause 22

Section 43B(h) MSME 45-Day Payment Rule: Tax Audit Disallowance, Form 3CD Clause 22 & Year-End Defense Guide

An exhaustive practitioner guide to Section 43B(h) of the Income-tax Act, analyzing the mandatory 15/45-day payment window to Micro and Small enterprises under the MSMED Act, compound interest liabilities, Udyam registration verification, trader exclusions, Form 3CD Clause 22 reporting, and Schedule III disclosures.

By Team assureOffice
Ind AS 19 Employee Benefits, Actuarial Valuation, DBO, Plan Assets & OCI Remeasurements Guide

Ind AS 19 Employee Benefits Accounting: Actuarial Valuation, Defined Benefit Obligation & OCI Guide

Authoritative financial reporting masterclass on Ind AS 19 (Employee Benefits) and actuarial valuation mechanics. Details short-term benefits, defined contribution vs defined benefit plans (gratuity and leave encashment), the Projected Unit Credit (PUC) method, discount rate benchmarking to government bonds, recognition of remeasurement gains/losses in Other Comprehensive Income (OCI) without recycling, and Schedule III reporting with assureFinancials.

By Team assureOffice
Automated Schedule 3 Notes to Accounts, Ageing Schedules, 11 Financial Ratios, assureFinancials

Automated Schedule 3 Notes to Accounts, Significant Accounting Policies, Ageing Schedules & Ratios Builder

A comprehensive operational guide to automating Schedule 3 Notes to Accounts, mandatory Significant Accounting Policies under AS/Ind AS, Trade Payables/Receivables ageing matrices, and the 11 statutory analytical financial ratios with variance analysis. Demonstrates how assureFinancials generates mathematically reconciled notes in clicks.

By Team assureOffice
Schedule 3 Format, Companies Act 2013 Balance Sheet, Profit and Loss Format, assureFinancials

Schedule 3 Format: Complete Guide to Balance Sheet, P&L, and Notes to Accounts under Companies Act 2013

An exhaustive practitioner guide to the complete Schedule 3 format under Section 129 of the Companies Act, 2013. Covers the vertical Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, mandatory MCA 2021 disclosures, ICAI Non-Corporate format comparison, and automating preparation with the assureFinancials cloud Schedule 3 Financial Builder.

By Team assureOffice