Tag Archives: #AuditPrevention

What compliance measures should Dental and Medical Laboratories follow to avoid tax audit issues?

Avoid Tax Audit Issues   Dental and Medical Laboratories in India should adhere to several compliance measures to avoid tax audit issues. These measures are essential to ensure accurate financial reporting and adherence to tax regulations. 1. Proper Bookkeeping and Accounting: Maintaining accurate and up-to-date financial records is crucial. Dental and Medical Laboratories should keep… Read More »

How does bookkeeping help a business?

  Introduction Bookkeeping is an essential financial practice that helps businesses maintain accurate records of financial transactions. It ensures compliance with legal requirements, aids in decision-making, and supports overall business growth. Without proper bookkeeping, companies may struggle with cash flow management, tax obligations, and financial planning. This article explores how bookkeeping benefits a business, its… Read More »

Can an income tax return be revised after the ITR is processed?

  Introduction Filing an income tax return (ITR) is a crucial financial responsibility for taxpayers. However, errors or omissions can sometimes occur while filing. A common question many taxpayers ask is: “Can an income tax return be revised after it has been processed?” The answer is yes, but with certain conditions. This article explores the… Read More »