Notes and Study material for Exams
RESPONSIBILITY ACCOUNTING Responsibility accounting is a management control system based on the principles of delegating and locating responsibility. The authority is delegated on responsibility centre and accounting for the responsibility centre. Responsibility accounting is a system under which managers are given decisions making authority and responsibility for each activity occurring within a specific area of … Read more
Direct & Indirect Taxes Direct Tax Indirect Tax Corporation Tax Excise Duties Income tax Service Tax Interest Tax Central Value Added Tax (Vat) Expenditure Tax Sales Tax Wealth tax Property Tax Gift Tax … Read more
Tax Reforms in India Sience 1990 ie the Chief Justice of India The Supreme Court of India is the highest court in India. It has: (a) One Chief Justice and 25 other judges (b) One Chief Justice and 30 other judges (c) One Chief Justice and 35 other judges (d) One Chief Justice and 40 … Read more
Code Of Conduct Civil servants have special obligations because they are responsible for managing Resources entrusted to them by the community, because they provide and deliver Services to the community and because they take important decisions that aff ect all aspects of a community’s life. Th ecommunity has a right to expect that the civil … Read more
Tax Laws: Laws relating to income, Profits, Wealth tax, Corporate tax The Income-tax Act, 1961 The Income tax Act, focusing on the rules and regulations of tax regulation, was initially put into existence in the year 1961. Under this act, everything related to Taxation and more are mentioned which also includes collection and levy. The … Read more
A Tool for Transparency and Accountability: The Power of Open Data In an era marked by increasing distrust in institutions and a growing demand for transparency, open data emerges as a powerful tool for fostering accountability and building trust. Open data, defined as data that is freely available for anyone to access, use, and share, … Read more
The Imperative of Transparency in Modern Governance and Business The 21st century has witnessed a dramatic shift in the global landscape, driven by technological advancements, interconnectedness, and a growing demand for accountability. In this context, transparency has emerged as a cornerstone of good governance and responsible business practices. This article delves into the multifaceted imperative … Read more
Navigating the Strategic Landscape: A Guide to Identifying and Addressing Key Issues In today’s dynamic and complex business environment, organizations face a constant barrage of challenges and opportunities. To thrive, they must be able to identify and address strategic issues â those critical factors that can significantly impact their long-term success. This article delves into … Read more
Base Erosion and Profit Shifting: A Global Challenge to Tax Fairness Introduction The global economy is increasingly interconnected, with multinational corporations (MNCs) operating across borders and engaging in complex transactions. This interconnectedness, while fostering economic growth, has also created opportunities for corporations to exploit loopholes in tax systems and shift profits to low-tax jurisdictions, a … Read more
The Global Minimum Corporate Tax: A New Era of Tax Fairness or a Pyrrhic Victory? The global landscape of corporate taxation is undergoing a seismic shift. In a landmark agreement reached in October 2021, over 130 countries, representing over 90% of global GDP, committed to implementing a global minimum corporate tax rate of 15%. This … Read more