Blog2019-11-26T15:53:27+05:30
2011, 2019

Income Tax for NRIs

By |November 20th, 2019|

Who is considered as Non-Resident Indian? To understand various tax implications on NRIs first it is important to understand who is said to be an NRI? NRI means Non-Resident Indian i.e. a Non – Resident having Indian Origin. = Non-Resident + Person of Indian Origin. Non-Resident Any individual is resident in India in any previous year, if he— Stays in India for a period of 182 days or more in that financial year. Stays in India for 60 days [...]

2011, 2019

Responsibilities of an Auditor

By |November 20th, 2019|

Ideally role of any statutory auditor is to examine the financial statements and give an opinion as to whether such financial statements portray true and fair view of the company. In such Examination it becomes important to know what all roles he should play in various circumstances, and what are powers and duties he is allowed with to ensure proper reporting of findings. Companies Act, 2013 along with and Standards on Auditing practices has enacted various powers and duties [...]

2011, 2019

External Auditor vs Internal Auditor

By |November 20th, 2019|

Definition of Internal and External auditor As per Institute of Internal auditor of India, “Internal auditing is an independent, objective assurance and consulting activity designed to add value to and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.” On the other hand, External Auditor means examination by independent body of the accounts and financial statements of the organisation [...]

2011, 2019

All about the New GST Returns

By |November 20th, 2019|

Why New GST returns? The very essence of Goods and Service tax regime is to ensure that input utilized is actually paid to the government for which invoice matching was done through GSTR 2A, but however this was failed because tax payers started taking credit on provisional basis in GSTR 3B, thus making it difficult to determine whether tax which is utilized is been actually paid to the government, thus shaking the very purpose of GST regime.To fight with this lacuna [...]

1110, 2019

External Auditor vs Internal Auditor

By |October 11th, 2019|

External Auditor vs Internal Auditor Definition of Internal and External auditor As per Institute of Internal auditor of India, “Internal auditing is an independent, objective assurance and consulting activity designed to add value to and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.” On the other hand, External Auditor means examination by independent body of the accounts and [...]

1110, 2019

All about New GST Returns

By |October 11th, 2019|

All about New GST Returns Why New GST returns? The very essence of Goods and Service tax regime is to ensure that input utilized is actually paid to the government for which invoice matching was done through GSTR 2A, but however this was failed because tax payers started taking credit on provisional basis in GSTR 3B, thus making it difficult to determine whether tax which is utilized is been actually paid to the government, thus shaking the very purpose [...]