General
Format of Statutory Auditors Report for FY – 2020-21
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF ABC
PRIVATE LIMITED
Report on the Audit of the Financial
Statements
Opinion:
We have audited the accompanying Financial Statements
of ABC PRIVATE LIMITED (“the Company”), which comprises the Balance Sheet as
at March 31, 2021,...
Case Laws
Cash deposited by a client in insurance agent’s bank account is mere remittance.
Ashish N. Vashi vs ITO
Facts of the case The assessee is an insurance agent, he used to collect cash from various parties and deposit them into his bank account and out of...
Top News
Attention Taxpayers: New I-T portal to be activated from June 7, existing portal will be unavailable from June 1-6
The Income Tax Department will launch a new income tax filing portal on June 7.
What new income tax makeover aims at?
The new e-filing portal (www.incometax.gov.in) is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers...
Income Tax
Application for Registration of Trusts or Charitable Institutions u/s 80G of Income Tax Act,1961
Section 80G of the Income Tax Act, 1961 provides deduction in respect of donations to specified funds, charitable institutions, trusts etc. which are approved u/s 80G. So, trusts and charitable institutions willing to receive...
Startups
9 Must-Know Startup acronyms
The world of startups is filled with new terminology and not being able to understand the can leave a bad impression and limit your network growth. Therefore, we have created this list of 9...
General
Do You Really Need Professional’s Help While Filing Your ITR?
When March approaches every year, we tend to focus on few compliances that we never thought of during the whole year and filing your ITR and the confusion of discussing it with professionals or...
Case Laws
SC : “Public scrutiny of the court process remains a vital principle for the functioning of democracy.” Does this mean no more Faceless hearing?
With the announcement of recent budget, the proposal in respect of introduction of the scheme of Faceless ITAT has been a point of debate since there are mixed opinions regarding the same The...
Income Tax
I-T Department issues Rs 17,061 CR of refunds to Taxpayers
The Income Tax Department on 12th May,2021 said it has issued over Rs 17,061 crore of refunds to more than 13 lakh taxpayers so far this fiscal year.
Of this, personal income tax refunds worth...
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