Long Form Audit Report Key Points To Be Considered LFAR -long form audit report, the main focus is on identification of the lacunae in the operations and internal control system of the Bank. Statutory Audit Report may not communicate this aspect. 1. Whether Cash Balance is within the limits prescribed by Controlling Authorities. 2. Regular …
The Bank Audit Check List & Procedure. Details related Bank Audit Check List Point Related to Documents Verification Sl No. Particulars Yes/No Check By Reviewed by Remarks 1 Latest sanction letter of the bank providing facilities 2 Latest stock statement 3 Stock statements for the months covering audit period including stock statements certified by Chartered Accountant …
All About Trust Deed Amendment & Supplementary Trust Deeds INTRODUCTION It is difficult to made an amend in the trust deed since a trust by its inherent nature is irrevocable. So, amending clause should be included in the trust deed itself. But, if the trust deed contains too many revision clauses, the trust may not …
Compliance Calendar for the Month of July 2023 S. No. Statue Purpose Compliance Period Due Date Compliance Details 1 Income Tax Tax Deducted at Source or Tax Collected at Source Liability Deposit June-23 7- July-2023 Deadline date of depositing Tax Deducted at Source or Tax Collected at Source liabilities under Income Tax Act, 1961 for …
Due Date Extension for filling TDS Return Form 26Q, 27Q & 27EQ for Q1 FY 2023-24 till Sept. 30, 2023 Recent announcements from the Central Board of Direct Taxes (CBDT) have extended deadlines for submitting specific TDS/TCS (Tax Deducted at Source/Tax Collected at Source) statements. This action is made possible by Circular 9/2023, dated June …
PERSONAL LOAN: A WAY OF FUNDING TEMPORARY MONETARY NEEDS Borrowing money becomes essential on several occasions in life be it a medical emergency, buying a home, or a latest brand-new car. Well, to take off our needs and requirements several loans are designed specifically. One such loan which we’ll be discussing during this blog is the personal loan. The loan has been popular for a decade thanks to its …
Q.: How to determine the individual residential status? Ans. To determine the individual residential status, the first step is to ascertain whether he is resident or non-resident. If he became a resident, then the next step is to ascertain whether he is resident and ordinarily resident or is a resident but not ordinarily resident. Step …
Frequently Asked Questions on form 16 & 16A Q.1: What is the procedure to get Form 16? There is no specified procedure for it. The employer will directly issue the receptive Form 16 to the employee and even in case an employee leaves their job, the employer will then also provide the Form 16. Q.2: …
How to tax on Loss or Profit from Intraday share trading Income This has become a lot more trading on the stock market, and investors aren’t just restricted to those who engage in active share trading. Income tax is applicable to all income in India. Similar to this, every gain or loss from sharing shares …
No TDS on purchasing property during liquidation : NCLAT Companies Liquidation is set to get easier with the National Company Law Appellate Tribunal throwing out taxman’s claims that the Companies Liquidation has to get TDS while bankrupt company during liquidation under Insolvency and Bankruptcy Code, 2016. . The National Company Law Appellate Tribunal ruled the …