There are many items which has different treatment in Income tax v/s treatment under GST Laws. So while auditing we should careful about the same. As per charging section of GST act, GST shall be levied on supplies of goods or services or both, except on the supply of alcoholic liquor for human consumption. Supply …
Category: Income Tax
Tax Auditor in Delhi
With businesses reaching greater success on a wider scale, creating the right regulatory standards in tax auditing is becoming more and more essential. The idea behind tax audit is to ensure that accounting records are kept in compliance with the provisions of the Income Tax Act. Since auditing indicates the corporate health and efficiency, helps …
Cash Transaction – Limit & Consequences of Non-Compliance under Income Tax Act
Cash transaction leaves no trail of the payer that causes tax evasion & black money. It affects the Indian economy by dual aspect one is revenue deficit to government and another one is unaccounted money that cannot flow in the economy. Both of these problems terribly effects the development of a country. That’s why government …