Facility of unblocking EWB has now been provided to the taxpayers on the GSTN Portal. To avail this facility, the taxpayer would be required to file Form EWB-05. the appliance so filed are going to be auto-populated on the dashboard of jurisdictional tax official, who can issue a Notice for private hearing to the taxpayer …
The government on Monday issued a public notice, asking all the news websites, portals, aggregators and agencies to suits the 26% foreign direct investment (FDI) policy for digital journalism during a bid to see foreign influence and interference in domestic affairs, investigate Chinese and other overseas funding in news sites, and make a level-playing field …
India’s taxation makes salaried people feel as if they spend on an additional loved one . This woe increases if they’re at 20% or above tax slab. This blog is about the varied tax saving options available to a private . A. Tax Saving options under tax Section 80 C ELSS Funds Equity-linked savings scheme …
The purpose of auditing internally is to supply insight into an organization’s culture, policies, procedures, and aids board and management oversight by verifying internal controls like operating effectiveness, risk mitigation controls, and compliances with relevant laws or regulations. Reasons why there’s an importance of Auditing Internally Internal auditing programs are critical for monitoring and assuring …
Internal Controls are systematic and procedural steps adopted by an organization to mitigate risks, primarily in the areas of financial accounting and reporting, operational processing and compliance with laws and regulations. Internal Controls (ICs) are essentially risk mitigation steps taken to strengthen the organization’s systems and processes, as well as help to prevent and detect errors …
Inventory audit or stock audit refers to physical verification of a corporation or institution’s inventory assets. There are several sorts of stock audits depending upon the aim and each stock audit would require a special approach. Every business institution a minimum of must perform a stock audit once during a year to update and assure …
Fixed assets, in an organization represent the long-term tangible assets which are used, -to produce and deliver its products or services, and -to manage its operations. They are assets held for the purpose of providing or producing goods or services and are not meant for sale in the normal course of business. Therefore, an asset can …
Risk-based internal audit is an internal methodology which is primarily focused on the inherent risks involved in the activities or system and provide assurance that risk is being managed by the management within the defined risk appetite level. Risk is defined as ‘the possibility of an event occurring that will have an impact on the achievement …
Internal Audit in India is one of the major areas which aid the organization in enhancing business performance by identifying the growth areas with greater scope for improvement. The process of Internal audit helps in reviewing the existing systems and their effectiveness by benchmark the audit processes and procedures against the best industry practices to …
Tax Collected at Source Under Income Tax – New Provisions Applicable from 01 October 2020 Introduction Finance Act, 2020 introduced 3 new provision under Tax Collected at Source (“TCS”): TCS on foreign remittance through LRS; TCS on selling overseas tour packages; and TCS on sales of any goods TCS unlike TDS is required to be collected additionally along …