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An ordinance has been passed to reduce the corporate tax rate to 22% + surcharge and cess to provide relief to business entities. Businesses have welcomed this slashing of tax rates as a promising step by the Govt. in helping the economy.
Due to amendment in Finance Act, 2016, applicability of Tax audit in cases where turnover < 1 crore and net profit < 8%, tax audit is not applicable
Sample Disclosure as per Income Computation and Disclosure Standards for reporting in Tax Audit report for FY 2016-17.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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