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CA Rahul

Precautions for GST Audit while finalizing balance sheet

Every business organization is engaged in finalizing books of accounts and preparation of Balance Sheet for each financial year. It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet.…

Change in tax audit limit

The Finance Bill, 2020 has brought a major amendment to section 44AB of the income tax act. After insertion of such changes, Tax Audit limit has been increased from Rs 1 crore to 5 crores provided the taxpayer has Cash receipts which…

DDT has been Abolished

The Finance bill 2020 proposed to abolish dividend distribution tax (DDT) which may result in boost in dividend pay-outs in corporates. A dividend is the share, a company pays its shareholders from the profits it earns, and DDT is the…