Last date for linking of PAN-Aadhaar extended In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. Notification to this effect is being issued separately. … Read more
Know your member : ICAI KYC The ICAI has launched “Know Your Member (KYM)” Form which is to be filed annually through Self-Service Portal (SSP) of the ICAI. To gain detailed insight inti KYC ICAI also released 17 faqs, which are available on its official portal. Some of the important faqs are listed here: FAQ’s … Read more
Creating a Strong Foundation: Importance of an Audit Engagement Letter An effective audit engagement letter is a critical component of a successful audit. It establishes the terms of the audit, outlines the responsibilities of both the auditor and client, and serves as a reference point throughout the audit process. In this article we will discuss … Read more
Top ten business opportunities in accounts & taxation business Tax consultancy and compliance services: With the Indian government introducing new tax laws and regulations, there is a high demand for tax consultancy services, compliance and filing of returns. the field of labour law is one of the emerging filed and can be good option as … Read more
Audit like a Pro with Excel and Tally Excel and Tally are both powerful tools that can be used for audit purposes. While Tally is primarily used for accounting and financial management, Excel is a versatile tool that can be used for data analysis and visualization. By using both Tally and Excel together, you can … Read more
Creative marketing strategies for promoting Accounting and Tax business Marketing an accounting and tax business can be challenging, but there are several strategies that can help you to reach your target market and attract new clients. Below are few tips that can be useful 1.Create a referral program: Encourage your existing clients to refer their … Read more
CPE Hours requirements for the block period of 3 Years (01/01/2020-31/12/2022) Summary of Requirement of CPE hours: In a calendar year Rolling period of 3 years Type Structured Unstructured Structured Unstructured Member with COP and Age <60 years (Except all those members who are residing abroad) Minimum 20* Hours Compulsory Minimum 20 Hours Can be structured … Read more
Maharashtra Budget 2022 proposes Amnesty Scheme Maharashtra Dy CM (Finance) Shri Ajit Pawar during his budget speech proposes Amnesty Scheme on various taxes levied by Sales Tax Department before introduction of GST Act. To provide relief to the common citizen, the industry and business, he propose to introduce amnesty scheme. This Scheme is applicable regarding concessions … Read more
CA/CS/CWA qualification equivalent to post graduation degree for appearing in UGC-Net The University Grants Commission (UGC) has resolved that Chartered Accountancy (CA) qualification will now be treated as equivalent to postgraduate degrees. The decision has been made on request of the Institute of Chartered Accountants of India (ICAI), ICSI & ICWA. “This will not only … Read more
Update IEC code every year, else face de- activation i.e. KYC of IEC Code Directorate General of Foreign Trade (DGFT) has issued notification 58/2015-20 dated 12th February 2021, amending of Importer-exporter code (IEC) related provisions. Vide the notification 58/2015-20 it has been provided that, IEC holder has to ensure that details in IEC be updated annually … Read more