The GST Amnesty Scheme has been Enacted Vide Finance (No. 2) Act 2024 (No. 15 of 2024) dated 16th August, 2024.
An LLP combines the advantages of a partnership and a corporation. It provides limited liability protection to its partners, meaning personal assets are protected from business debts and liabilities.
In the realm of business and finance, maintaining accurate records and ensuring transparency with customers is crucial. One practice that plays a significant role in this is the annual customer balance confirmation.
In this article, I will share some of the fundamental building blocks related to Auditing. These are universal concepts and apply to all organizations irrespective of legal form or size.
Verifying authenticity is necessary to avoid fraud as it safeguards you against inaccuracies and fraudulent activities.
Here's a comprehensive overview of how these frauds operate, why they are effective, and how you can protect yourself.
22 August 2024
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A detailed overview of various allowances as per the Income Tax Act and the 2024 Budget.
Share forfeiture can be defined as the process of a cancelling the shares allotted to the defaulting investors by the company.
Angel Tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act 1961, was a tax levied on startups receiving investments from angel investors when the amount raised exceeded the fair market value of the shares issued.
This section is used, or I must say misused, in most of the Notices! The department is trying to levy a penalty under this section in most cases, but the High Court's views are in favour of the Assessee.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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