Monthly Archives: September 2020

Note on Faceless Appeal Scheme 2020

Posted on September 26, 2020

The CBDT has Notified the Faceless Appeal Scheme 2020 which has become effective from 25th September 2020. For more details, please refer the attached document:- Note on Faceless Appeal Scheme 2020 Disclaimer:- The information contained herein is in summary form based … Continue reading →

Posted in Direct Tax |

Highlights of Taxation & Other Laws (Relaxation & Amendment)

Posted on September 19, 2020

The Lok Sabha passed the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 on 19.09.2020 which seeks to replace the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (introduced in March, 2020 to provide … Continue reading →

Posted in Direct Tax |

Covid Flow Management During Covid 19

Posted on September 15, 2020

The pandemic has put almost every business in a difficult cash flow situation, starting from long-delayed payments from debtors to bearing fixed cost even with no revenue in hand, statutory payments, recurring financing cost, daily follow-up by the creditors’ which … Continue reading →

Posted in Audit & Assurance |

Tax Audit Applicability For Financial Year 2019-20 (Assessment Year 2020-21)

Posted on September 10, 2020

Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover, or gross receipts, in business exceed or exceeds one crore rupees in any previous year. In case … Continue reading →

Posted in Audit & Assurance |

ICAI Guidance on Review engagement of Interim Financial Information

Posted on September 5, 2020

    Background For reviewing the Interim Financial Information, Auditor has to ensure that the applicable financial framework has been complied with by the Company. A review of interim financial information in accordance with SRE 2410 is a limited assurance … Continue reading →

Posted in Audit & Assurance |