NEWS & UPDATES

Introduction In today's highly competitive and rapidly evolving business environment, organizations must ensure that their operations are efficient, transparent, and compliant with applicable laws and regulations. Achieving these objectives requires more than accurate accounting—it demands a robust system of governance, risk management, and internal control. This is where Internal Audit plays a crucial role. Internal Audit is an independent and objective assurance function th

How Artificial Intelligence is Changing the World of Finance and Auditing Introduction Artificial Intelligence (AI) has emerged as one of the most transformative technologies of the 21st century. By automating routine tasks, enhancing decision-making, and improving operational efficiency, AI is reshaping industries across the globe. Among these, the finance and auditing profession has witnessed one of the most significant transformations. For decades, financial reporting and

Additional Depreciation Introduction Depreciation is one of the most significant tax deductions available to businesses under the Income-tax Act, 1961. It allows taxpayers to spread the cost of a capital asset over its useful life and claim annual deductions to reflect wear and tear, obsolescence, or reduction in value. However, to encourage industrial growth and investment in productive assets, the legislature introduced an additional depreciation incentive under Section 32(

Deadline for submission Month Act/Law Applicable Form Period Description 5-Nov-25 Nov-25 SEZ SEZ - MPR Oct-25 Monthly Performance Report 7-Nov-25 Nov-25 Income Tax Challan No. ITNS-281 Oct-25 Payment of TDS/TCS of October. In case of government offices where TDS/TCS is paid by book entry, same shall be paid on the same day on which tax is deducted or collected. 7-Nov-25 Nov-25 FEMA ECB-2 Oct-25 Return of External Commercial Borrowings for October. 7-Nov-25 N

Compliance Calendar August 2025 Deadline for submission Month Act/Law Applicable Form Tax period Description 05/08/2025 August/25 SEZ SEZ...

Compliance Calendar July 2025 Due Date for submission Month Act/Law Applicable Form Tax period Description 07-07-2025 July-25 FEMA ECB ...

Income Tax Bill 2025 · As part of the Union Budget 2025, the FM announced tabling of the new bill in Parliament in the current...

Meaning of Dividend : Section 2(35) of the companies Act, 2013, while defining the term dividend simply states that “dividend” includes...

Union Budget 2025-25 Key Highlights

Depreciation under Income Tax Act (Section 32) Understanding Section 32 of the Income Tax Act, 1961: Section 32 of the Income Tax Act,...

There are two kinds of provisions wrt expenditure in Income Tax Act i.e., 1. Allowable Expenditure- Those expenses which are allowed/...

Corporate Social Responsibility (CSR) as per Companies Act, 2013 Corporate Social Responsibility (CSR) refers to the ethical obligation...

As per Section 12 read with Rule 26 of the Companies (Incorporation) Rules, 2014 every company which has a website for conducting online...

It is not an Exhaustive list of Obligation under various Laws. Important ones have been complied to serve as a ready Reckoner. Users are...

Different Streams of Revenue and Relevant Controls for Revenue Leakage

Dematralisation of Shares

SOP Audit & Internal Audit in Luxury Hotels & Resorts" Chapter-03-Audit Planning

EQUITY & LIABILITIES 1. Share Capital Whether there is any change in Shareholder’s pattern if yes -obtain the certified copies of the...

Different Departments of a Hotel and their Key Processes The smooth operation of a hotel is akin to a well-orchestrated symphony, where...

In the dynamic hospitality industry, consistency is key. From reception greetings to meticulous housekeeping, every guest interaction...