Estate Tax Valuation Valuation of assets for estate tax purposes is an important step in determining the estate tax liability when an individual passes away. The value of assets included in the decedent’s estate is used to calculate the estate tax owed to the government. Here are some key points regarding the valuation of… Read More »
Features of Tax Audit A tax audit is a critical process conducted by a tax professional or authority to ensure that taxpayers’ financial records and returns are accurate and compliant with tax laws. In India, the tax audit is mandated under Section 44AB of the Income Tax Act, for certain taxpayers. Understanding the key features… Read More »
Special Features of Tax Audit: Understanding Its Importance and Key Aspects A tax audit is a systematic examination of a taxpayer’s financial records and accounts to verify that they have accurately reported their income, deductions, and other related items on their tax returns. It is a critical process conducted by tax authorities to ensure… Read More »
