judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other
The CBDT has extended the due date of filing ITR for the auditable entities for the A.Y. 2022-23 to 7th November, 2022 to give effect to consequential extension in the due date of filing audit report till 7th October, 2022. Time limit for e-verification of ITR reduced to 30 days from...
The CBDT finds that over 34.84 lakh audit reports had been filed on the e-filing portal for AY 2024-25 by 7 October 2024. Read More08th October 2024The CBDT has established an internal committee to examine the Income-tax Act thoroughly. Also, the department is seeking input from stakeholde...
Proprietorship under presumptive tax scheme:Regardless of the annual turnover, an audit is necessary if a proprietorship falls under any presumptive tax scheme. The rules governing the audit process for a proprietorship are defined under the Income Tax Act of 1961. According to the Act, the audit...
RJA 08 Aug, 2022 Extension of the Due date of filing ITR for AY 2022–23 till 31st August 2022 A Representation from the Gujarat Federation of Tax Consultants and the Income Tax Bar Association have been submitted to the Indian Minister of Finance and the Chairman of the CBDT to extend ...
of 'information which suggests that income has escaped assessment.' Lastly, there is no clarity on what exactly is meant by the term 'audit objection' in the context of it constituting 'information which suggests that income has escaped assessment' - which furthers the subjectivity of its ambit...
Rcm on audit fee(42) Itc on second havd vehicle purchase(33) Itc claim on rented building(28) Gst on office(25) Refund of interest on gst refund of pre-deposit(23) Reversal of tran cenvat credit(20) Itc credit for raw materials sold as scrap(18) ...
There are various monetary limits u/s Sec 44AA, 44AB and Sec 44AD relating to maintenance of books of accounts and audit. These provisions have created ambiguity among taxpayers and professionals.
The DGT is required to make a decision on a VAT refund application, on the basis of a VAT audit, within 12 months of the receipt of a complete application. If no decision has been made within 12 months, the application is considered to have been approved. 56 Indonesian Pocket Tax Book ...
Published: October 2022 Tax, Accounting, and Audit in China 2022/23 offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in China, as well as other tax-relevant obligations. This is a concise, detailed, and ...