Entries by CA Susham Rambhia

Understanding the Section 44AB Tax Audit in a Simplified Manner

Tax Audit under Section 44AB Tax Audit is simply an examination of Books of Account of the Business/Profession from the Tax perspective, conducted by a Practicing Chartered Accountant and mandated by the Income Tax Law for certain categories of persons. In this article we will briefly discuss about the applicability, non-applicability, conditions, interlinking with Presumptive Taxation,...

Reduction in the Corporate Tax Rate: Significant Points to be kept in the mind.

In order to give a boost to the Domestic Companies considering the global economic slowdown, provide relief to the Corporates as well as to promote the Make in India initiative encouraging new business entrepreneurs, the following two new sections have been introduced. The Taxation Laws (Amendment) Ordinance, 2019 has reduced the Income Tax Rates and...