Understand TDS under Section 194R as per CBDT guideline. Learn about the 10% TDS deduction on benefits provided in business or profession.
Dive deep into the intricate details of TDS under Section 194J of the Income Tax Act, 1961. This comprehensive analysis covers the applicability to various payments, definitions of professional services, technical services, royalty, and non-compete fees. Explore examples, threshold limits, and the applicable rates of tax deduction. Stay informed with relevant issues and insights, including notable court judgments.
Discover the importance of using an auditors expert in the audit process. Learn about evaluating competence, capabilities, and objectivity for reliable audit evidence.
Learn about the new tax deduction provision under Section 194Q and its implications for buyers. Understand the criteria and rates for tax deduction.
Applicability of TDS under Section 194N: Whenever any Banking Company (within the meaning of Banking Regulation Act, 1949), Cooperative Bank or a post office pays any amount or aggregate of amount as the case may be, in cash exceeding One crore to any person from one or more accounts during previous year, they are liable to deduct TDS equal to 2% of such sum.
Understand the basics of audit materiality and its significance in financial statements. Learn how misstatements can impact users economic decisions.
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.
Explore the recent RBI norms on auditors liability for willful default, emphasizing the role of Chartered Accountants in ensuring accurate financial reporting. Understand the criteria for identifying non-cooperative borrowers and the consequences for auditors found negligent. Dive into the mechanisms and procedures outlined by RBI for dealing with willful default cases, offering insights into the definition and consequences of willful default and diversion & siphoning of funds. Stay informed on the regulatory landscape and guidelines to maintain financial integrity
Understand the Tax Deduction at Source (TDS) provisions for non-residents in the Income Tax Act. Learn about the different sections and their implications.
Learn how to write an effective internal audit report and avoid making your entire audit exercise futile. Discover the importance of proper reporting in the audit process.
