Heard this great saying by former US President Richard Nixon? "Make sure you pay your Taxes; otherwise you can get in a lot of trouble." Sampath a young 28 year old man, works in an IT firm in...
People who don’t know about taxation system should know that why we should pay taxes. Especially when a business is operating then it is important to pay taxes to the central or state government of...
When you get a letter from the federal and local tax authorities making a final demand for your income tax you may not know where to turn. The IRS can implement a number of punitive measures to take...
Articles and notations are combined with two words in the accounting by writing the meaning of the article and by marking means the meanings. Accounting is an event sequence that is written in the...
The Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day. The...
One-line description: Planning for the next financial year early can ensure optimized tax savings for the future. Here is a look at some tax saving plans that must be a part of your financial...
1. Introduction:Section 50B of Income Tax Act, 1961 (for short ‘the Act’) deals with the capital gains in the case of Slump sale.2. Bennett Coleman & Co.case in brief:Recently, in Bennett Coleman...
First things first!The income tax is the sum of money that you need to pay in the form of the tax to the Government as per your tax slab that you fall under depending on your salary. To calculate an...
Your ChallengesThe political landscape and recent developments in International Taxation has made both local and international Tax Compliance more challenging. You realise that the Tax Regulatory...
The learned author takes up for discussion a very recent Tribunal decision in which the assesse had made reimbursement of expenditure to a certain party, which the assessing officer treated as payment...
Adoption of new technologies such as analytics, artificial intelligence in information system has enabled the auditor to examine and analyse large volumes of structured and unstructured data related...
The emergence of blockchain technology is trending in the process audit services market. A blockchain refers to a distributed ledger which has the relevant details for every transaction that has ever...
Data analytics helps auditors to manage important aspects of IT systems in larger audits. The extraction of data using fields within the basic data structure is a part of data analytics. For instance...
Internal auditing firms are highly investing on cognitive Intelligence, and robotic process automation (RPA) to help analyze and automate the large inputs of digital data arriving from large scale...
Businesses grow, the number of employees increase and the owners certainly look to achieve new heights with their organization. Ever wondered what fraction of businesses do actually achieve the...