Explore the crucial points to verify during a tax audit in India, covering areas like books of accounts, TDS, compliance, transfer pricing, and more. Ensure comprehensive tax compliance.
Discover the essential steps for a thorough ledger scrutiny during an audit. From reviewing entries to ensuring compliance, learn how to assess and document key accounts.
Learn the crucial steps to establish and maintain a correct accounting process in your company. From clear policies to ongoing monitoring, ensure accuracy and compliance.
Explore the roles and responsibilities of directors under the Companies Act 2013 in India. Understand their legal obligations, including duty of good faith, compliance, and more.
The engagement letter is a formal document that outlines the terms of engagement between the auditor and the company. It includes details such as the audit objectives, scope, responsibilities, and fees. An example of an engagement letter would be a document signed by the auditor and the company’s management, clearly stating the terms of the audit engagement.
Understand the GST registration process for e-commerce operators and sellers, including tax collection, TCS, input tax credit, invoicing, liability, compliance, and record-keeping. Explore TCS return filing, TDS applicability, rates, certificates, return filing, and payment for e-commerce transactions.
You can invest up to ₹1.5 lakh per year in specified instruments to avail deductions under Section 80C. For example, if you invest ₹1.5 lakh in a tax-saving fixed deposit with a lock-in period of 5 years and an interest rate of 6%, you can save tax on the entire investment amount.
Understand the intricacies of director disqualification in India under the Companies Act 2013. Learn about grounds, proceedings, consequences, and the process to remove disqualification.
Ensure accuracy in GST reconciliation with these key points and a step-by-step process. Timely reconciliation, data accuracy, documentation, and error rectification are crucial for compliance. Follow the case studies for practical insights and consult tax professionals for business-specific compliance requirements.
Understand the taxability of Futures and Options (F&O) business income under the Income Tax Act, 1961. Learn about treating F&O income as business income, taxation of profits and losses, applicability of tax audit, reporting in Income Tax Return (ITR), and deductions. Explore the concept of turnover in F&O trading with an example, and know the criteria for tax audit based on turnover. Get insights on calculating turnover for futures and options trading and consult a chartered accountant for accurate turnover calculation.
