As per Section 145(2) of income Tax Act, government has the power to notify the income computation and disclosure standards. Such standard to be followed by certain class of assesses in respect of any class of income. These 10...
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The Companies Act, 2013, requires auditors to frame an opinion on whether a company has “an adequate Internal Financial Controls (IFC) system in place and the effectiveness of such controls. It means apart from Normal Audit Report and CARO,...
During announcing “Tax Relief Package on account of Covid 19 Crises”, Finance Minister has announced one time waiver scheme for all defaulter companies and LLPs. As per this scheme, Ministry of corporate affair will provide waiver from late fee...
Honourable Finance Minister has announced various reliefs from certain statutory compliance on account on Covid 19 Pandemic. Below is the list of relief/exemptions granted by Finance Ministry on 24 March 2020: Income Tax Updates: Income Tax Return (ITR) due...
Prior to implementation of GST, Educational services were exempt under Service Tax Regime. With the implementation of GST, Educational Sector needs to be re-assessed with taxability. Primarily Educational Services are seems to be exempt however critical analysis needs to...