The Finance bill 2023 included a new clause (h) to section 43B of the income tax act 1961. To assure on-time payments, the stated clause inserted as a Socio-Economic Welfare Measure and has been realized through the Micro and small companies.
An audit trail is a chronological record of all changes made to financial transactions within an accounting system. It helps maintain the integrity and accuracy of financial records.
This article outlines various recommendations put forth by SEBI's Ease of Doing Business (EODB) working group and additional proposals aimed at streamlining processes and enhancing investor experience within the portfolio management industry.
RBI's 2024 Guidelines: Master Direction on Commercial Paper and Non-Convertible Debentures with Up to One-Year Maturity
A salary slip or a pay slip is a document provided by an employer to an employee, with a detail list about the salary components such as HRA, LTA, bonuses, and deductions for a specific period, typically a month.
It is high time that necessary amendments should be made in the Income Tax Act/Rules to incorporate the process of claiming the tax credit, where the foreign tax credit certificates are received by an assesses even after the end of the assessment year.
In this article we discuss 3 AI-driven innovations, actively used by accountants to improve the accuracy of financial data, to free up time and make accounting more efficient.
The bustling cafe hummed with conversation as Vivaan and Aahil, two college buddies, debated over their tax returns. Aahil, ever the tax-savvy one, mentioned claiming a deduction under Section 80GGC, piquing Vivaan's curiosity.
In this blog, we will discuss why there is a need to use financial software in your business.
On February 14, 2024, the Insolvency and Bankruptcy Board of India (IBBI) released a report recommending a voluntary mediation framework for various IBC processes. The expert committee, led by Dr. T. K. Viswanathan, explored the feasibility of integrating mediation into the IBC system.