Broker A broker is a person who is in the business of executing securities transactions on behalf of other people’s accounts. Investment advisors, independent contractors, financial consultants, and placement agencies hire him as an agent. Dealer A dealer is a person who buys and sells assets for his own account. He performs the role of …
Forward-thinking companies are already aware of the benefits of internal audits, and they’re pursuing audit transformation programmes based on data analytics, artificial intelligence, and automation. If you haven’t gotten there yet, learning about the advantages of internal audits is a wonderful place to start. Internal Audits: A Quick Overview Internal audits are a form of …
Capital Gain Account Scheme was introduced in 1991.It scheme allows individual to park their capital gains until the point when they can be reinvested in assets specified in Sections 54 & 54F of the Income Tax Act, 1961, protecting their capital gains. It allows us to make you eligible for the capital gains exemption you …
An Indirect taxes is collected by one entity in the supply chain and paid to the government, but it passed on to the consumer as a part of the purchase price of a good & Service Indirect tax is tax imposed by the government on a taxpayer for good and services bought. Indirect tax is …
No change in Income Tax Slab during the Financial Year 2022-23. Income from the transfer of virtual digital asset shall be taxes at 30% with no deduction of expenses. Tax rates for co-operative societies slashed to 15%, while start-ups are set to get one year of tax incentives till March 31, 2023 Alternate minimum tax …
The tax system is the backbone of a country’s economy, maintaining a constant income, managing economic growth, and fueling its industrial activity. India’s three-tier federal structure consists of the Union government, the state governments and the local authorities that are empowered to collect various taxes and fees in the country. Local authorities include local councils …
Computer security, information technology security (IT security) or cyber security is the protection of computer systems and networks from information disclosure, theft or damage to the hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide. “Cyber security” focuses on protecting computer systems from unauthorised access or being otherwise damaged or made inaccessible. …
With people’s growing interest and knowledge in the field of investment, trading in stock markets has grown significantly in recent years; as a result, it’s become critical to understand how various stock market profits are taxed under the Income Tax Act of 1961. Various stock market earnings and their tax implications Intraday share trading Intraday …
A forensic audit examines and analyses a company’s or an individual’s financial records in order to use them as evidence in court or in legal proceedings. It provides as a foundation for proving commercial fraud in a high-risk setting. Expert knowledge of accounting and auditing methods, as well as expert knowledge of the legal framework …
This SA covers the auditor’s responsibilities when using expert work (person or organisation) for purposes other than accounting or auditing, which necessitates gathering sufficient and suitable audit evidence. The responsibility of the auditor The auditor bears sole responsibility for the audit opinion given in the audit report, which is unaffected by the use of an …