Question
At 31 Mar, management projects a worst-case stress
showing net technical provisions plus URR exceed current solvency margin by 10%. Regulator requires prompt remedial plans. Which immediate action is most appropriate while preparing a remediation plan?Solution
Regulatory regimes require timely notification and remedial plans if solvency tests fail or coverage weakens. Immediate halting of business may be disproportionate; instead a formal action plan (capital, reinsurance, underwriting changes) and engagement with regulator is appropriate.
The books of account of every company relating to a period of __________________ immediately preceding a financial year together with the vouchers rele...
Schedule II in the context of Goods and Service Tax deals with?
Salary received by the Partner of a Firm is charged under the head
An employee receives gratuity of ₹12 lakhs on retirement. What is the maximum tax-exempt amount under the Income Tax Act?
The remuneration of the auditor of a company shall be ________________________
A company receives rent of ₹6 lakh in FY2024–25. It has to deduct TDS under which section?
Under which section of the Income Tax Act, 1961, are the provisions related to TDS on interest other than interest on securities mentioned?
A domestic company reports ₹2 crore as book profit. As per section 115JB, if its normal tax liability is ₹12 lakh, what is the Minimum Alternate Tax...
An employee receives gratuity of ₹12 lakhs on retirement. What is the maximum tax-exempt amount under the Income Tax Act?
A salaried employee earns ₹18 lakhs annually. In FY 2024–25, she contributes ₹1.5 lakh to PPF, ₹50,000 to NPS (u/s 80CCD(1B)), and pays ₹2 lak...
