Auditors are required to express their views on the financial statements as a whole. This includes notes to the financial statements that form part of the account, providing additional information on balances and transactions and other relevant information. It is, therefore, important that at all stages of the audit and auditor’s judgment be properly considered…
For the income tax assessment, the trusts are important organizations to be considered. Subject to the provisions of section 111 A and section 115, the total income of a business trust will be taxed at a maximum marginal rate. This article discusses the income tax assessment of trusts for A.Y 2022-2023. Table of Contents Religious…
In terms of Section 2 (119) of the CGST Act, 2017 as a ‘work contract’ means a contract of construction, building, fabrication, completion, fitting out, installation, erection, development, repair, renovation, modification, alteration, maintenance, or authorization of any immovable property where the transfer of goods (either by goods or otherwise) is involved in the execution of…
Section 39 of the Central Goods and Services Tax (‘CGST’) Act, 2017 provides that every registrant is required to complete a monthly electronic return. Details such as the outward and inward supply of goods or services, taxable input tax available, taxable payable, taxable paid, etc. are required to be announced in that return. However, a…
It is an old proverb that savings at a young age can play a great role in old age. Nowadays ample investment options are available with the investor. Globe has become the village now and as there is no barrier in investment worldwide. Certainly, if we invest huge amounts in that case certain permissions from…
If you are running your own business then you must consider the option of a Stock Audit. It is a necessary tool for you to ensure that the stocks of your company are up to date. It helps you avoid unnecessary problems and complications. In this article, we will discuss, “Documents to be obtained &…
In the 21st Century, “Influencers” have almost the same recognition as TV personalities. Moreover, when we hear the word Influencer we correspond it with Instagram. We are engaged in social media every day. Further, most of us are eager to keep up to date with every post from our favourite influencers. Are you an Influencer? Moreover, due to…
The word Nidhi means “Treasure”. If you want to start a Nidhi company then Jaipur maybe the best place for you. Today, there are many Non-Banking Finance Companies that have become very popular. Nidhi Companies are there to help our savings habits. Institutions like banks, finance companies; Nidhi Companies, etc are there to help us…
Every taxpayer has to file their Income Tax Returns (ITR). Further, every businessman has to pay their GST returns. Moreover, they have to do so in time. On filing, if there is any inconsistency or error present in the information declared, the tax officers will conduct a scrutiny of your GST returns. In this article, we will discuss,…
India ranked 8th in terms of revenue from the e-commerce market and its growth in 2020. While the importance of the electronic marketplace, namely e-commerce, will never diminish soon, domestic tax laws are a matter of great confusion. The GST regime has made perception of complexity in understanding the e-commerce system in India. This article…