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For corporations and individuals under Indian tax laws who were subject to tax audits, the deadline to file income tax returns is 31st October 2023, for the financial year 2022-23. Late fees will apply if taxpayers have not filed it by the due date. Note: In Explanation 2, sub-section (1), clause (a) describes how to […]
In the current times, Clause 44 of 3CD become the ‘Buzz word’ for every professional. People are giving their views recognizing the aspect of reconciliation with indirect tax records. Form 3CD of Tax Audit Report (TAR) was revised in July 2018 via Notification No. 33/2018 on 20.07.2018 to include Clause 44 on reporting of GST […]
The Institute of Chartered Accountants of India (ICAI), suggested to the government that tax audits along with tax compliance services directed to the company through its statutory auditor must not interfere as management service, a segment of offering which they are restricted from rendering. The suggestion arrives while the government is working on revising the […]
The amended guidance Note on Tax Audit assists its members to release their responsibilities, within time, under the income tax law, circulated by the CA institute. The new guidance Note the eighth edition was approved, during the meeting of the central council of the Institute of Chartered Accountants of India (ICAI) at Siliguri. Debashis Mitra, […]
The refund is a cumulative process to return the taxes collected by the assesses in the filing process and here we will see some of the recent changes and amendments introduced by the government in the format of the guidelines for both post-audit as well as the refund claims basis. The Central Board of Indirect […]
Corporate fraud, it includes any act committed by any individual with the connivance of another person, any concealment of any fact, or any abuse of position, aimed at deceiving, taking advantage of, or injuring the company, its shareholders, or its creditors, or any other persons, whether wrongful gain or wrongful loss occurred. Management Responsibility for […]
On Tuesday CBDT (The Central Board of Direct Taxes) expanded the last date of income tax return (ITR) submitting for Assessment year 2021 -22 until March 15, 2022, for certain taxpayers who are entitled to an audit, said by the Ministry of Finance asked. “On consideration of difficulties reported by the taxpayers and other stakeholders […]
The government has detailed the e-form CRA-4 and its relevant guidelines with due dates as well as the threshold limits of form applicability. The post also includes the annexures with the dates as part of overall compliance. Check out in detail below: e-Form CRA-4 Rules and Sections Under Company Act Part I – Law(s) Governing […]
GST department audit parameters towards the selection eligibility, required documents which could be obliged for the and proactive steps to be undergone. GST is the biggest tax improvement in our country and to a larger extent it has been stable now but the assessee is still struggling with some problems and compliances needed to be […]
