Changes in Tax Audit form 3CD for A.Y. 2014-15 and onwards
Purview This time, Assessment Year 2014-15 has really brought a excess grace period for the Tax Assessee who are liable to maintain their books of accounts as per Section 44AA of Income Tax Act, 1961 and who are required to audit their books under Section 44AB, 44AD and 44AE of the said Act. It really … Continue reading Changes in Tax Audit form 3CD for A.Y. 2014-15 and onwards
Read more 3708 Views Leave a commentHow to Draft a Auditor Report
Purview A very crucial and important element of an audit is “Audit Report“. The report is the medium of communication of the auditor’s expert views on the financial statements and it has a significant bearing on the credibility of such statements. It is necessary to emphasise that an auditor’s report is directly linked with the task … Continue reading How to Draft a Auditor Report
Adjustment of Share Application Money
Notification: Well as per New Companies Act, 2013 new provision has been implemented regarding the Share Application Money, pending for allotment. As per Section 42(6) of the Companies Act, 2013, “any allotment of securities shall be made within 60 days from the receipt of application money and in case the company is not able to allot … Continue reading Adjustment of Share Application Money
Read more 20163 Views 3 CommentsNew Format of Tax Audit Report for A.Y. 2014-15 and onwards
From the A.Y. 2014-15, Government has prescribed a New Format of Tax Audit i.e. Form 3CD. Hence, the additional details required for the New Format is duplicated below. New format of tax audit 2014 Additional details required as per New Tax Audit form: Whether the assessee is liable to pay indirect tax like excise … Continue reading New Format of Tax Audit Report for A.Y. 2014-15 and onwards
Read more 3265 Views Leave a commentHow to Audit of an Individual and Draft a balance sheet
Preface In a common parlance the audit procedure of a Company and an Individual is same. But there are lots of other factors that needs to be considered while doing the same. What basically is the difference is that a Company is govern though different Statutory and Legal obligations and powers. Whereas for an Individual/ … Continue reading How to Audit of an Individual and Draft a balance sheet
Read more 6431 Views Leave a commentWCT- Work Contract Tax
Introduction WCT, a term which basically comes in both the parameter : i) Sales Tax and ii) Service Tax. But, what i am going to discuss is substantially belongs to Sales Tax. Here, I’m not going to focus on the concept of the Work Contract interm of Service Tax, rather I will elaborate how to … Continue reading WCT- Work Contract Tax
Read more 86645 Views 19 CommentsHow to get Import Export Code?
The documents required for the Import-Export Code are: Covering Letter on Company letter Head Board Resolution on Company letter Head ANF2A (NA for online) Demand Draft of Rs. 250 in favour of concered regional office of DGFT. Director Details on Company letter Head 5 Photo graph of Applicant Director bankers Certificate (see in ANF2A form) MOA COI PAN- Self … Continue reading How to get Import Export Code?
Read more 2881 Views Leave a commentHow to Draft / Prepare a Balance sheet
Introduction: Basically there are different methods or tricks for preparing a balance sheet. Please don’t get confused.. As I am talking about the finalizing the accounts of the company or balance sheets. I am only concerned about preparing such balance sheet in excel format only after finalizing of account balance i.e. Final Trail Balance. I … Continue reading How to Draft / Prepare a Balance sheet
Service Tax Registration- The Complete process
Service Tax Registration for Individual/Proprietorship The documents required for the registration are: 1. ID proof: PAN/Passport/Aadhar Card/Driving license/Voter ID 2. Address Proof: Rent Agreement/Voter ID/Passport/Aadhar Card/Driving license 3. Utility Bill: Electricity Bill/Landline Telephone Bill/Water Bill 4. DECLARATION 5. UNDERTAKING FOR SINGLE REGISTRATION Now make an ID on the following link: https://www.aces.gov.in/STASE/ui/jsp/common/registerWithACES.do After making an ID, login … Continue reading Service Tax Registration- The Complete process
Read more 3216 Views Leave a commentA review on – Equal Remuneration Act, 1976
Introduction: Its not only the question to management, ethically also its hard to endeavor that appointment to a job is based on the discrimination on sex categories. Not even that nowdays the work portfolio is also prepared on the same basis. And the same case is with the remuneration selection and distribution. What actually I … Continue reading A review on – Equal Remuneration Act, 1976
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