TDS compliance in tax audit report TDS compliance in tax audit report, In the context of a tax audit report, ensuring compliance with TDS (Tax Deducted at Source) is a vital factor that requires attention. Here are some key considerations regarding TDS compliance in a tax audit report: Verification of TDS Deductions: The tax auditor will… Read More »
Is it mandatory to create deferred tax asset or liability In the realm of financial reporting and tax accounting, the concepts of deferred tax assets (DTA) and deferred tax liabilities (DTL) play a crucial role. But is it mandatory to create them? Let’s break down this important question. What Are Deferred Tax Assets and… Read More »
Understanding One Time Tax “One Time Tax” does not have a universally defined meaning and can vary depending on the context. However, in general terms, understanding One Time Tax typically refers to a tax that levy only once on a specific transaction or event. For instance, during the purchase of a property, you may encounter… Read More »
