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TDS under Section 194R : CBDT Guideline

November 28, 2022 19173 Views 1 comment Print

Understand TDS under Section 194R as per CBDT guideline. Learn about the 10% TDS deduction on benefits provided in business or profession.

TDS under Section 194J : Detailed Analysis

November 14, 2022 41433 Views 2 comments Print

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.

Using the work of an Auditor’s Expert

November 7, 2022 3696 Views 0 comment Print

Discover the importance of using an auditors expert in the audit process. Learn about evaluating competence, capabilities, and objectivity for reliable audit evidence.

TDS under Section 194Q : An Analysis

October 26, 2022 38838 Views 0 comment Print

Learn about the new tax deduction provision under Section 194Q and its implications for buyers. Understand the criteria and rates for tax deduction.

TDS under Section 194N: An Insight

October 18, 2022 5259 Views 0 comment Print

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.

Basics of Audit :-Materiality

October 3, 2022 11862 Views 0 comment Print

Understand the basics of audit materiality and its significance in financial statements. Learn how misstatements can impact users economic decisions.

Audit Evidences : An Analysis

September 25, 2022 4350 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.

Prudential Norms : Auditors Liability for willful default

September 11, 2022 2811 Views 0 comment Print

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

Tax Deduction at Source and Non Residents

August 10, 2022 1440 Views 0 comment Print

Understand the Tax Deduction at Source (TDS) provisions for non-residents in the Income Tax Act. Learn about the different sections and their implications.

How to write effective Internal Audit Report

August 8, 2022 8316 Views 0 comment Print

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.

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