Tag Archive
DUE DATE OF FILLING INCOME TAX RETURN
Due date of filling income tax return for the assessment year 2008-09 is 30th Sept. 2008. This date is applicable to all i.e. partnership firms, proprietors, companies, HUF except the salaried persons. Similarly all the business or professions which have to get their A/c audited u/s. 44AB of the IT Act or under any statutaory [...]
FINANCIAL AUDIT –A TOOL TO AVOID FINANCIAL FRAUDS -III
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Vat Audit
Vat Audit is a popular concept in foreign countries. Countries like France & Korea have made VAT audit compulsory to keep a check on tax evasion. The concept of VAT audit is new for India. But most of the states have incorporated the audit provisions since inception. Especially some states like Maharashtra, Karnataka [...]
FINANCIAL AUDIT –A TOOL TO AVOID FINANCIAL FRAUDS II
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Applicability of Audit
The entities which come under statutory audit are: (1) The audit of specified entities governed by sec. 44 AB of the Income Tax Act 1961. (2) Banking Companies which comes under the Banking Regulation Act 1949. (3) Co- operative Societies governed by Co- operatives Act 1912. (4) Electricity Companies under Electricity Act [...]