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ICAI To Soon Consider Shorter Audit Reporting Frequency

The landscape of Chartered Accounting is continuously evolving, driven by technological advancements and changing business needs. One recent development from the domain comes from the Institute of Chartered Accountants of India (ICAI), the nation's regulatory body for the profession. Recognizing the impact of technology on accounting practices, the New President of ICAI, CA. Ranjeet Kumar…

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Should TDS Quarterly Penalties Apply?

Filing TDS returns on time is crucial for both the deductor as well as deductee.  However, unplanned events or technical glitches can cause delays in filing these TDS returns. While the Income Tax Act imposes penalties for such delays, it necessitates a closer examination of situations involving purely technical, unintentional errors. This blog provides a…

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GST Audit: A Step-by-Step Guide for CA’s to Ensure Compliance and Accuracy

Introduction: The GST audit is an annual requirement for GST-registered businesses with turnovers exceeding 2 crores INR. It involves scrutinizing records, returns, and documents to verify the accuracy of turnover, taxes, refunds, and compliance with GST Act regulations. Chartered Accountants play a pivotal role, in ensuring meticulous review and alignment with the complex GST framework.…

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