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Reserves and Surplus represent the accumulated profits and funds set aside for specific purposes and are crucial indicators of a...

Auditing share capital involves a comprehensive review of records, compliance with legal requirements, and ensuring financial transparency.

Further, the income tax department while conducting scrutiny or assessment for cases only considers sale consideration as income of the...

Statutory audits involve multiple stakeholders, each with distinct roles and responsibilities. Understanding these roles is crucial for ensuring the effectiveness...

The primary objectives of statutory audits revolve around ensuring the reliability and accuracy of financial statements, enhancing transparency, and fostering...

Sections 143 to 147 delineate the duties, responsibilities, and liabilities of auditors, outlining their obligations to report on financial statements,...

Below mentioned are some important due dates under Income tax, GST, company law etc. for the month of June 2024.

₹3.83 lakh crore gross GST revenue collection in FY2024-25 (till May 2024) records 11.3% y-o-y growth

They're not just about following rules but about honesty and trustworthiness. In the upcoming parts of this series, we'll delve...

Cost inflation index (CII) is used in Income Tax to give inflation effect to cost for long term capital asset...

According to the provision of Act and debt oriented mutual fund purchased after 01.04.2023 or market linked debentures will always...

The benefit enjoyed by bank employees from interest-free loans or loans at a concessional rate is a unique benefit/advantage enjoyed...

When one shows this income as business income they cannot offer this income under 44AD, as 44AD does not allow...

This new functionality is expected to increase transparency by displaying such information in AIS to the taxpayer. This is another...

Section 6 deals with deciding on the residency of a person under Income tax act. In this article we shall...