SA 200: Overall  Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing

Objective of audit to obtain Reasonable Assurance about Financial Statements are free from Material Misstatements and express opinion in form of Audit Report.

Auditor should fulfill Ethical Requirements in Relation to Audit of Financial Statements.

Auditor

Form DIR-3C: - Intimation of Director Identification Number (DIN) by the company to the Registrar DIN services              

Form CRL-1: - Information to the Registrar by company regarding the number of layers of subsidiaries. 

Form CRA-2 -Form of

CA Final Direct Tax Amendments as applicable for May 2018 and Nov 2018 exams B...

Applicability of E - Way Bill on Inter State Basis from 1^st April 2018:-

From 1^st April 2018 E – Way Bill

To Reduce Burden of More Compliance of Law and Regulation under Goods and Service Tax Composition Scheme was introduced by Government of India for Small Businesses. It helps small businessmen to concentrate more on business rather than Compliance of Goods and Service Tax. Composition Scheme is defined under section 10

Supply means and includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business.

Input Tax Credit (ITC) in GST and Utilisation of Input Tax Credit

Securities Transaction Tax (STT): -Securities Transaction Tax is type of Tax levied on Purchase or Sale of Securities (Equity Shares, Equity Oriented Mutual Fund, and Option Contracts in Securities and Futures in Securities etc.)  through recognized stock exchange. Any Assesse

Assessment: -Assessment means Assessing Taxable Income of Assessee and Tax Liability their on by Assessee himself/herself or by Assessing Officer. Assessment includes reassessment.

The introduction of GST in India is now a reality,
with the Government stepping on the speed
button to bring in GST live with effect from
July 2017. A thorough preparedness of the
organization before the actual implementation
of GST is the need of the hour. GST proposes
to

Presumptive Income means Calculation of Incomes on Basis predefined Percentage of Receipt  i.e Certain Portion of Receipt is Treated as Income and Rest of Receipt Treated as Demeed Expenditure irrespective of Expenditure is done or not. Assessee may declare Income more then Income as per Calculation based presumptive Income. When assessee declare Income equal to or more then Income defined as Presumptive

 Rate of Tax on Long Term Capital Gain

When Security Transaction Tax (STT) is Paid: - Any Long Term Capital Gain arises on Sale of Securities (not held as Stock in Trade) through Stock Exchange on which STT is Paid then Rate of Tax will NIL (Exempted from Tax) for Gain Up to Rs. 1 Lakh and Any Long Term Capital Gain arises on Sale of Securities (not held as Stock in Trade) through Stock Exchange on which STT is Paid exceeding Rs. 1

There are many areas of differences between Indian GAAP (the standards issued by the Institute of Chartered Accountants of India [ICAI] and the guidelines issued by the RBI) and Ind AS because current Indian GAAP is driven by “form” in a number of areas rather than “substance,” which is the focus under Ind AS. Certain critical areas that would have a transformational impact on the transition to Ind AS are summarized hereunder:

NPS Tax Benefits (Latest)
This part has not been affected by the latest budget. Only contribution to Tier-I NPS account is eligible for income tax benefits.

Investment up to Rs 1.5 lacs into NPS in a financial year is eligible for deduction under Section 80CCD(1). Please note this deduction comes under the overall ceiling of Rs 1.5 lacs for deduction under Section 80C. In

1. Definition of One Person Company (OPC)
2. No. of Persons Required for formation of OPC
3. Mandatory Conditions for formation of One Person Company (OPC)
4. Nominee for OPC
5. Change of Nominee
6. Management
7. Financial Statement of OPC
8. Meetings...

NITI Aayog stands for National Institution for Transforming India. It is a Government of India initiative to replace Planning Commission. NITI Aayog involves inputs from both the central and state governments in policy-making processes. The Prime Minister is the Ex-officio chairman of NITI Aayog. NITI Aayog also consists a governing council. Chief Ministers of all the states, chief ministers of Delhi and Puducherry, Lieutenant

For a banking sector, composite system / software which handles transactions, customer relations, regulatory compliances, MIS/ reports request is the need of the hour. Core Banking Systems (CBS) provide the solution for the same. There are number of Core Banking Software’s available in the market. More prominent and used in India are FINACLE, FLEXCUBE and

Introduction

Scope of this SA
1. This Standard on Auditing (SA) deals with the auditor’s responsibility to
communicate key audit matters in the auditor’s report. It is intended to address both
the auditor’s judgment as to what to communicate in the auditor’s report and the form
and content of such