In India, the financial year runs from 1st April to 31st March of the following year. This period is used as the basis for taxation and other financial purposes in India. It is also known as the fiscal year.
An Audit Trail is a chronological record of all the events or transactions that have occurred within a particular system or process. It is used to track changes to data and document who made those changes, when they were made, and why.
Sandeep Kabra Vs Bureau of Immigrations (Calcutta High Court) Whether suspended directors of a company who are guarantors can be restricted from travelling outside Country by a Bank by issuing lookout circular on account of being Willful defaulter? The Calcutta High Court in this case was considering the petitioners’ Writ application for travelling abroad to […]
Unlock CSR funding for your NGO! Learn about MCA Form CSR-1 registration, eligibility criteria, required documents, and the process. Secure your NGOs place in the National CSR Exchange Portal for potential funding opportunities.
CESTAT Chennai held that the demand of duty alleging that cost of free supply material has to be included in the assessable value is not sustainable and liable to be set aside.
ITAT Rajkot held that denial of deduction under section 80P of the Income Tax Act on the allegation of non-filing of Return of Income within the due date prescribed under section 139(1) of the Income Tax Act is unjustified.
Delhi High Court held that the fee earned by the respondent/ assesse (M/s. Fish Poultry and Egg Marketing Committee) from regulating agricultural produce (which includes fish, poultry, and eggs) falls within the scope of Section 10(26AAB) of the Income Tax Act, 1961.
Madhya Pradesh High Court held that as petition under section 11(6) of the Arbitration and Conciliation Act, 1996 not maintainable as there was an agreement on procedure to be followed for appointing an arbitrator.
Clarifying the misconception: No tax exemption of Rs. 7,00,000 under New Tax Regime for FY 2022-23. Understand the correct slabs, deductions, and tax implications for the financial year.
Explore the critical GST perspectives during Statutory Bank Audits. Learn about transactions, exemptions, reverse charges, place of supply, and their impact on banking company financials. Understand GST implications on various services, foreign transactions, legal services, and input tax credit. Ensure compliance with GST rules, place of supply provisions, and export supply conditions. Trustworthy insights for Auditors conducting Statutory Bank Audits in the evolving GST landscape.
