Goods and Services Tax : The article explains common GST audit objections relating to ITC, reverse charge liability, and turnover mismatches. It highlights...
Income Tax : The new Form 100 replaces outdated audit reporting formats to improve compliance and clarity. It standardizes reporting for specia...
Income Tax : The Petitioner contended some of the directions issued by the Respondent are bad in law because the Respondent has delegated upon ...
Income Tax : A) The rationale behind the introduction of the provision of Special Audit √ Assessee is liable to get its account audited u/s 4...
CA, CS, CMA : Background: Quality control is applied to achieve company’s vision to be a distinguished company. By maintaining a standard qual...
Goods and Services Tax : The Commissionerate seeks experienced audit firms to undertake statutory Special Audits covering turnover, ITC, tax payments and p...
CA, CS, CMA : Get details on the empanelment of Cost Accountants under Income-tax Act, 1961. Notice issued by the Principal Chief Commissioner o...
CA, CS, CMA : Income Tax Department invites C.A./C.A. Firms in Bihar & Jharkhand to apply for empanelment as Special Auditors. Eligibility, term...
CA, CS, CMA : Income-tax Department, Mumbai intends to invite application from reputed Chartered Accountant firms/propreitary concerns for empan...
CA, CS, CMA, Company Law : 1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the...
Goods and Services Tax : Delhi High Court sets aside special audit order against DHL Express India, citing lack of proper hearing. The ruling highlights ju...
Income Tax : Explore the Delhi High Court's ruling in PCIT vs. B.L. Kashyap. Learn why CIT cannot extend Section 142(2C) Audit report submissio...
Income Tax : SC held that order directing special audit under Section 142(2A) of Income Tax Act, 1961 is required to be communicated to appel...
Income Tax : Since AO had taken recourse to the provisions of section 142(2A) only with a view to extend the period of limitation by virtue of ...
Income Tax : India Yamaha Motor Private Limited Vs PCIT (Delhi High Court) Writ of India Yamaha Motor (P) Ltd., Hon’ble Delhi High Court ...
Income Tax : Income Tax Department Amritsar Central Revenue Building, Room No. 206, 1st Floor, Maqbool Rd, C Block, Amritsar, Punjab 143001 E-m...
Section 142 (2A) of the Act anticipates timely submission of the report of the Special Auditor. The Auditor who is to conduct special audit in terms of Section 142 (2) of the Act is not an auditor of the choice of the Assessee. The auditor is nominated by the Revenue and his work is not […]
An Auditor has evolved from traditional practices of checking the accuracy of the numbers, finding faults or detecting frauds to a wider concept called ‘Value addition to their Clients’.
This petition under Article 226 of the Constitution of India seeks quashing/modification of an order dated 07.11.2014 passed by the respondent No. 1/Commissioner of Income Tax, Central-II under Section 142(2D) of the Income Tax Act, 1961 (hereinafter to be referred as ‘the Act’) read with Rule 14B of the eponymous Rules of 1962.
Under the Central Excise and Service Tax laws, there is no requirement for audit of accounts and furnishing reconciliation statement by an accountant except special audit.
Times and now, questions have been raised on the qualifications and eligibility of the officers of the department to conduct audit, but the Government has proved to be adamant in continuing the ritual despite of the poor results of such audits. This piece of articulation is on the journey of provisions related to audit in the Chapter V of the Finance Act, 1994 governing the service tax law.
Coordination is the very important aspect in any Organization. It brings unity of action and integrates different activities of organization. Coordination is the most important function of an organization. It refers to bringing together the activities of an organization to achieve the objectives
1. Revised SA 700, Forming an Opinion and Reporting on Financial Statements. 2. New SA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. 3. Revised SA 705, Modifications to the Opinion in the Independent Auditor’s Report. 4. Revised SA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report.
Central Bureau of Investigation (CBI) has sought the help of the Institute of Chartered Accountants of India for investigation of important Forensic Audit assignments. Chartered Accountants firms having prior sufficient experience and expertise in forensic auditing may submit their details at the earliest preferably in a week’s time.
The article briefly explains the concept of Forensic Auditing and the use of the technique in the detection of the frauds. The relevance of the concept has been highlighted -especially in the emerging scenario of continuous development in the fields of accounting and auditing. The article also touches upon the various inter-related concepts and the vital areas where the technique of Forensic Auditing can be best used in detecting the misappropriations and manipulations in the financial as well as operational matters.
Banking sector: The IT saga in Indian banking commenced from the mid-eighties of the twentieth century when the RESERVE BANK took itself the task of promoting automation in banking to improve customer service, book keeping, MIS and productivity.
