NO EXTENSION OF FINANCIAL YEAR : CLARIFIES FINANCE MINISTRY
No extension of the Financial Year : There is a fake news circulating in some section of media that the financial year has been extended. A notification issued by Govt...
TDS ON YEAR END PROVISIONS
As per Income Tax Act ; TDS is to be deducted when the payment is made or when the amount is credited in the Books, whichever is earlier. So, The...
APPOINTMENT OF JOINT AUDITOR : IMPACT ON THE CORPORATE WORLD
In last couple of years, the audit profession has received the attention which no other profession has received due to corporate frauds which has surfaced, the kind of economic and...
FIRST TIME IN INDIAN HISTORY : RS. 10,000 CRORE DEFAMATION SUIT AGAINST AUDITOR IN INDIA
First, the statutory auditors resign claiming the company did not provide satisfactory answers to their queries. Then the company’s shares nosedive. Now the company is suing the auditors for false claims and...