If Internal Audit report is carried out fairly it becomes very crucial document for Statutory Auditors, The statutory auditor may use internal audit report in a meaningful manner and can perform his duties in a better way. Which can help to perform Statutory Auditor’s while performing their Final Audit. Internal Audit report is a very […]
Go ahead; take a few seconds and think about it. Write down “investments.
Service Tax on Real Estate Transactions APPLICABILITY: Service tax on real estate transactions implication on almost every sector, and real estate is no exception. With the introduction of the negative list concept since July, 2012, the scope of applicability of Service tax has increased manifold . A summarized analysis is contained herein providing guidance on […]
Income of Trusts In India there are many religious/charitable trusts for e.g. temples, Ashram, Gurudwaras, hospitals, educational, etc. propagating and working for social and charitable activities. What about their financial and taxing matters? These trusts have to follow many regulations. Mainly they have to follow the rules of Bombay Public Trust Act (For Maharashtra State), […]
Service Tax on Export of Services The first notification relating to export can be traced back to Notification No.2/99 dated 28-02-1999 which means that since July 1, 1994 up to 28-02-1999 the concept of Export of Services was absent and consequently earnings in foreign exchange suffered service tax in contrast to the exporters of goods […]