PQ Magazine’s Post

Have your say on the Post-implementation Review of GRAP 108 (ED 207) .. An article on Do you understand the difference between the impairment and derecognition of a statutory receivable? explains the difference between an impairment and derecognition of a statutory receivable. Read more here:https://buff.ly/3V378Pf

#TaxmannAnalysis #BlockAssessmentScheme Missed Taxmann's Webinar on New Block Assessment Scheme for Search Cases? Don't worry; we have got you covered! • PPT Link: https://lnkd.in/dy9h6UEM • Video Link: https://lnkd.in/dEi7rGxs [63 Mins | Watch Time] 📋 Coverage of the Webinar: ✔️ Key definitions relevant to block assessment ✔️ Computation of total income for the block period [Sec. 158BB] ✔️ Procedure for block assessment [Sec. 158BC] ✔️ Undisclosed income of any other person [Sec. 158BD] ✔️ Time limits for completing block assessments [Sec. 158BE] ✔️ Certain interest and penalties in specific cases [Sec. 158BF] ✔️ Authority competent to make assessment of block period [Sec. 158 BG] ✔️ Application of other provisions of this act [Sec. 158 BH] ✔️ Q&A Session 📢 Compiled by: • Hari Agarwal – Founder and Senior Partner | Hari Agarwal & Associates – Chartered Accountants #TaxmannUpdates #ITAT #Assessment #IncomeTaxAct #BlockAssessment

Very relevant to note the new procedure for seach matters under income tax, especially since the dawn raid season is almost here. #incometax #blockassessments #searchandseizure #dawnraids

One possible explanation for the SFO's application on the Guralp DPA - has Guralp Systems failed to pay its profits disgorgement. The DPA ended on (or before) 22 October 2024 unless Guralp failed to paid its disgorgement. The SFO didn't inform the court of the suspected breach until 21 November 2024. The Crime and Courts Act 2013, Schedule 17, section 9 states that "At any time when a DPA is in force, if the prosecutor believes that P has failed to comply with the terms of the DPA, the prosecutor may make an application to the Crown Court under this paragraph [for breach of the DPA]". Key words - "at any time when a DPA is in force." The DPA states at paragraph 8 that "This Agreement is effective for a period beginning on the date on which the Court makes a declaration under Schedule 17, Section 8(1) and (3) of the Crime and Courts Act 2013 and ending on or before 22 October 2024, when the financial terms set out in Paragraphs 13-14 below have been fully satisfied (the "Term"). The SFO website says "On 21 November, we informed the court that we believe the terms of this DPA have been breached. We have requested a hearing at Southwark Crown Court (sitting at the Royal Courts of Justice) to take the matter forward." The SFO's application is timely as long as the DPA is still in effect, which points strongly to the financial terms not being satisfied.

Sometimes I find myself looking at a single number in a set of accounts and asking myself "what does that actually mean?". The answer can be surprisingly elusive, even for supposedly simple items. In my latest article I look at tangible fixed assets and how the numbers are derived. Unfortunately IAS16 has evolved into an impenetrable mess of historical cost, fair value and impairments. The end result is that none of the numbers can be relied upon to convey useful information. https://lnkd.in/eRPuyDEX

A comprehensive video guide on IRS Form 56-F provides a detailed walkthrough for accurately completing the form. This resource aids individuals in comprehending the form's requirements and common mistakes, simplifying the process for those who are unfamiliar with it. https://buff.ly/3W5Jd1M #TrusteeFeesExplained #SelfEmploymentTaxFacts #FinanceEducation101 #TaxationRules #FinancialPlanningTips #InvestmentIncomeTax #TaxDeductibleExpenses #EstatePlanningGuide #FinancialLiteracyMatters

Webinar Insights "The IRS Form 941 – Simplicities, Complexities, Specialties And Instructions For This Quarterly Form" https://lnkd.in/gTDaC8sK Register to watch the full video, https://lnkd.in/gQ9YQbbA

How to get accountants to take you seriously: Casually mention a proof of cash or quality of earnings in a sentence.

Imagine this! Your company's financial year ends on December 31. On January 15, fire destroys a major warehouse. How will you treat this in the books? IAS 10 talks about the treatment of events that occur after the reporting period.👇 #AccountingStandardSeries

📚 Document like your financial future depends on it! Because... it kinda does! 😉 Keeping proper records isn't just for neat freaks. It's your shield against the IRS dragon! 🐉🛡️ Don't give them any reason to come knocking. Document, document, document! What's your go-to method for keeping records? Share your tips! 👇 #IRAdocumentation #TaxCompliance #FinancialOrganization