Category Archives: 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 |

Managing Supply Chain in COVID-19 Crisis

COVID-19 has disrupted supply chain globally forcing companies to relook at their supply chain model for survival. In the current time of crisis, companies are forced to relook at their supply chain models and transform the traditional supply chain mechanism. … Continue reading

Posted in Audit & Assurance |