Articles by Naman Shrimal

Pointers of the Ordinance passed to reduce corporate tax to 22%

Naman Shrimal 21 September 2019 at 12:50

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.

Tax audit not applicable for Turnover less than 1 crore

Naman Shrimal 07 September 2017 at 10:40

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 ICDS

Naman Shrimal 06 September 2017 at 11:34

Sample Disclosure as per Income Computation and Disclosure Standards for reporting in Tax Audit report for FY 2016-17.

Articles by Naman Shrimal

Pointers of the Ordinance passed to reduce corporate tax to 22%

Tax audit not applicable for Turnover less than 1 crore

Sample Disclosure as per ICDS

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