Comprehensive Guide: Items Reportable in the Tax Audit Report

Introduction The taxation landscape is a complex and ever-evolving domain, and one crucial aspect that taxpayers need to navigate is the tax audit. Under the Indian Income-tax Act, taxpayers are required to maintain proper books of accounts and undergo a tax audit if their gross turnover or receipts during the previous year exceed the prescribed …

The Significance and Benefits of Maintaining Books of Accounts

In the realm of business, keeping a record of financial transactions has been a practice as old as commerce itself. From the earliest days of barter systems to the complex financial landscapes of today, the meticulous maintenance of books of accounts has played a pivotal role in the success and sustainability of enterprises. In this …

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