Archives
Categories
-
Recent Posts
- CSR-Covid Spending Clarification
- Amendment in Schedule III of the Companies Act, 2013 (Applicable w.e.f 01.04.2021)
- CBDT notifies format, procedure and guidelines for submission of Statement of Financial Transactions (SFT) for interest and dividend income
- Revision on Accounting Standards applicability criteria for classification of Non-company entities [Applicable w.e.f 01.04.2020]
- CBIC vide Notification Number 41/2021- customs (N.T.) dt. 05.04.2021 makes Customs (Verification of Identity and Compliance) Regulations, 2021
Recent Comments
Category Archives: Audit & Assurance
Revision on Accounting Standards applicability criteria for classification of Non-company entities [Applicable w.e.f 01.04.2020]
The Accounting Standards board of ICAI, at its 400th meeting, held on March 18-19,2021, has “significantly simplified the accounting standards applicability criteria for Micro and small size non-company entities” The primary update to the applicability is the introduction of a new category … Continue reading
Posted in Audit & Assurance
Changes In Tax Audit Report Form 3CD, Form 3CEB And ITR (Assessment Year 2020-21)
CBDT vide Notification No. 82/2020 dated 01.10.2020 has notified certain changes in the Tax Audit Report Form No. 3CD, Form No. 3CEB and ITR-6. The Notification has also amended Rule 5 of the Income Tax Rules, 1962 and inserted two … Continue reading
Posted in Audit & Assurance
Covid Flow Management During Covid 19
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)
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
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 engagement, in … Continue reading
Posted in Audit & Assurance