No Dues and No Objection Certificate A “No Dues Certificate” and a “No Objection Certificate” are two different types of documents used in various contexts. Here are the differences between them: No Dues Certificate: 1.Meaning: A No Dues Certificate, also known as a Clearance Certificate, is a document issued by an individual or organization to… Read More »
Depreciation on current assets Depreciation is not charged on current assets because they are not expected to last for more than one year and are not considered long-term assets. Current assets include items like inventory, accounts receivable, and prepaid expense. Which can expect to use up or sell within a short period of time. As… Read More »
Capital in balance sheet is a opening capital or closing capital In a balance sheet, the capital represents the owner’s equity or shareholders’ equity of a business. It can refer to either opening capital or closing capital, depending on the specific context of the financial statement. 1.Opening capital: Opening capital refers to the initial capital… Read More »
Are derivatives assets or liabilities Are derivatives assets or liabilities, Derivatives can be both assets and liabilities, depending on their specific characteristics and the context in which they are hold. Derivatives are financial instruments that derive their value from an underlying asset, index, or reference rate. Derivatives as assets: In some situations, derivatives can… Read More »
GST on raw material input If there is no GST on raw material input, then there will be no GST charged on the sale of the. However, if raw material use in the production of a taxable good or service. Then GST will charge on the value of the final product or service at the… Read More »
Introduction The Income Tax Act, 1961, governs taxation laws in India and includes various provisions for computing capital gains tax. Two crucial sections related to long-term capital gains (LTCG) are Section 112 and Section 112A. While both sections pertain to taxation on LTCG, they have different applicability, benefits, and limitations. Understanding their distinctions helps taxpayers… Read More »