Caonweb – Expert CA Sakshi Agarwal Filing your income tax online need not be confusing. At Caonweb, guided by Income Tax Return Filing specialist CA Sakshi Agarwal, we simplify the income tax filing process for all over India. 1. What is Income Tax Return Filing? Industry expert CA Sakshi Agarwal reviews: “This section clearly answers […]
Tag: Tax Audit
Difference between Auditor & Compliance Officer
The distinction between the auditor and the compliance officer is not always apparent. There are obvious parallels, and the two have common characteristics with some overlap, so it is fair to confuse them with almost fusion. In certain instances, they must function together, but there are distinct variations. One interesting difference is that an auditor […]
Why is Internal Audit Important for Your Company in India?
INTERNAL AUDIT Internal audit process is executed in every company irrespective of its size and under which segment it is operating. Internal audit process helps in keeping an internal checks & balances on the company policies & management including corporate governance and accounting processes associated. Internal audit process also ensures that the company is complying […]
TAX AUDIT LIMIT FOR BUSINESS/PROFESSION IN INDIA
According to Section 44AB, Income tax act 1961 (As amended by finance act, 2017) accounts of persons carrying business/profession need to be audited. Every person carrying on: – Business Total sales/Turnover/Gross receipts exceeds INR 1 Crore in any previous year. Profession Gross receipts exceeds INR 50 lacs in any previous year. Business (Section 44AE Section […]
STATUTORY AUDIT OF FINANCIAL STATEMENTS OF COMPANY
The audit is an independent examination of the financial statements of an organization by an auditor. It is conducted to ensure that the financial statements represent a true and fair view of the financial position of the organization. Auditor presents the independent auditor’s report to the stakeholders of the company. There are various types of […]
Difference in statutory audit and tax audit requirement in India
An audit is the inspection of an individual or any legal entity’s books and accounts. In any audit, accountants verify that a company’s business transactions were recorded accurately, and provide a true and fair reflection of that company’s financial situation. Two major audit comes to our mind which are ruled by company law and income […]