Filing taxes No, it is not permissible filing taxes multiple times within a single financial year for the same income earned during that year. Once you have filed your taxes and reported your income, deductions, and other relevant details, you cannot file another tax return for the same income within that financial year. Filing taxe… Read More »
Assurance And Internal Audit Assurance and internal audit are related concepts, but they have distinct purposes and scopes: Assurances: Assurance engagements are conduct by external or internal auditors, or other independent professionals, to provide objective assessments and conclusions on the reliability, accuracy, and compliance of information or processes. The objective of assurance is to… Read More »
Statutory authority Statutory authority under the GST law to check unfair profiteering activities is the National Anti-Profiteering Authority (NAA). The NAA is a quasi-judicial body that was set up under the GST Act to ensure that the benefits of GST rate reductions and input tax credit are passed on to the end consumers by the… Read More »
Financial analysis Vs planning Vs management Financial analysis Vs planning Vs management, Financial analyst, financial plannings, and financial management are three distinct concepts in the field of finance. It is refers to the process of evaluating the financial performance of a company or investment by analyzing its financial statements, ratios, and other financial indicators. It… Read More »
OPC to section 8 OPC to section 8, Converting an OPC (One Person Company) to a Section 8 Company (also known as a Non-Profit Company) involves the following steps: Obtain Consent: Obtain the consent of the sole member (director and shareholder) of the OPC for the proposed conversion to a Section 8 Company. This consent… Read More »
Secretarial Audit is Applicable Secretarial Audit is Applicable, It’s also known as compliance audit, is a process of examining and assessing the compliance of a company’s statutory and regulatory obligations. The applicability of secretarial audit depends on the legal and regulatory requirements of the jurisdiction in which the company operates. Here are some common… Read More »
Audit Stages Stages: An audit typically involves several stages, which can vary depending on the size and complexity of the organization being audited. However, the following are the general of an audit: 1.Planning: In this the auditor plans the audit by gaining an understanding of the organization and its business processes, identifying key areas of… Read More »
Company registration for GST Yes, company registration is mandatory for GST registration in India. Only entities that register under a legal structure recognize by the Indian law can apply for GST registration. This includes companies registered under the Companies Act, 2013, as well as other types of entities such as LLPs (Limited Liability Partnerships), partnerships,… Read More »
Firms Requiring Company Secretary Firms requiring company secretary, The requirement for a company secretary varies depending on the jurisdiction and the legal framework governing companies. Here are some common scenarios where a Firms requiring company secretary is typically require: 1.Public Companies: In many jurisdictions, public companies are require by law to appoint a company… Read More »
Companies secretarial audit is mandatory Companies secretarial audit is mandatory, The requirement for secretarial audits varies across jurisdictions, and the specific companies for which it is mandatory depend on the applicable laws and regulations. However, here are some common scenarios where secretarial audit is typically mandated: 1. Listed Companies: In many countries, listed companies… Read More »