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Archive: 25 September 2022

Posts in 25 September 2022

Checklist for Statutory Audit – Documents to be obtained

September 25, 2022 16524 Views 0 comment Print

A comprehensive checklist for conducting a statutory audit. Learn about the documents required and the audit procedures to ensure compliance.

Format of Management Representation Letter (MRL) for Audit

September 25, 2022 96699 Views 0 comment Print

In this article author has shared the format of the Management Representation Letter or Written Representation (MRL/WR)  to be obtained from the management during various professional engagements: To, M/s XYZ & Co. Gurgaon, Haryana Sub: Management Representation in course of Statutory Audit for F.Y. 2021-22. This representation letter is provided in connection with your audit […]

Global Supply Chains Integrating Global + Local : Shifting to Global

September 25, 2022 4767 Views 1 comment Print

Global Supply Chain advanced due to Globalization and Increasing Free Trade among Countries. Globalization undoubtedly has many Advantages & Benefits of Better Access and Integration of Supplies at Global Level.

National CSR Exchange Portal – Registration Requirement and Benefit

September 25, 2022 5748 Views 1 comment Print

As we all know, current Central Government is focusing on Digitalisation of India. In a recent move, they have launched National CSR Exchange portal to maintain a database of CSR Spending companies and NGOs that are eligible to receive CSR Funding i.e implementing agency. It is a platform where both CSR Spending company and registered […]

Taxation of filing modified ITR in cases of Succession otherwise than by death (Section 170 & 170A)

September 25, 2022 7596 Views 4 comments Print

Understanding the taxation of filing modified ITR in cases of succession in business or profession. Learn about the provisions under Section 170 & 170A of the income tax Act.

Bail for GST Offences cannot be denied merely for ongoing investigation

September 25, 2022 1164 Views 0 comment Print

The department objected the bail application mainly on the ground that investigation is still under way. This Court is of considered view that, merely raising the contention that investigation is still going on is not enough, but, department should have point out that the further custody of the applicant is necessary.

Taxation Aspects of MSMES with respect to Income Tax Act 1961

September 25, 2022 1689 Views 0 comment Print

Understanding the taxation aspects of MSMEs with respect to the Income Tax Act 1961. Learn about the eligibility criteria and benefits for MSMEs.

Request to issue SOP to officers to improve effectiveness of Video Conference proceedings in faceless regime

September 25, 2022 5040 Views 1 comment Print

KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R) Date: Saturday, September 24, 2022 To, Smt. Nirmala Sitharaman Hon. Union Minister of Finance and Corporate Affairs Government of India Hon’ble Madam, SUBJECT: Request to issue SOP to the officers to improve the effectiveness of the Video Conference proceedings in the faceless regime The Karnataka State Chartered Accountants Association […]

HC set-aside order uploaded on GSTN Portal for not containing reasons

September 25, 2022 1089 Views 0 comment Print

Where order in Form GST DRC-07 as visible in GSTN Portal did not contain reasons, same was wholly defective and, hence was to be remitted back for fresh adjudication

Audit Evidences : An Analysis

September 25, 2022 3834 Views 0 comment Print

Understand the importance of audit evidences and their role in forming an auditors opinion. Learn about sufficiency and appropriateness of audit evidence in this insightful analysis.

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September 2022