Penalties in Income Tax Act
In an income tax concealment case, the Ahmedabad bench ruled that a penalty can be issued without a limb amount. The tax penalty is a burden to the taxpayers. Tax Revenue plays a prominent role in economic growth. Direct tax is part of tax revenue. It has a relationship with demand, inflation and supply. The […]
IT Department want to employ cost accountants
In Delhi, the Officials from the Income tax department said that the panel of cost accountants will work to check the correctness of the tax returns. The tax calculations include inventory and price fluctuations. The cost audit brings correctness to the tax calculations. The government want to have a monopoly market in some industries. The […]
Professional ICON award from ICAI
On ICAI Foundation Day, Rakesh Nangia Anderson was awarded the professional ICON award. The present Draupadi Murmur graced the seventy-fifth foundation day. The governor of Uttarakhand, General Gurmit Singh presented the honour to Rakesh Nangia in the Dehradun branch. Rakesh Nangia is the managing director of Nangia and Co LLP. The blog talks about the […]
Comparison of tax system in India and Foreign
The tax system has a direct relationship with economic development. The tax revenue is for the health, infrastructure and education. The tax system depends upon GDP, population, administrative considerations, macroeconomic policies, and inflation. Middle Eastern countries and North Africa do not collect high charges of personal income taxes. The GDP revenue from the personal tax […]
What is a business associate certificate from ICAI?
ICAI provides the accounting technician course for students who have completed the foundation course, and one group of Inter. Students can opt for this course when joining the CA intermediate course. If the students have not opted, they can submit the registration form for the accounting technician course. After 12 months of job experience, the […]
The income Tax department reduces the time for a refund
The processing time is long in the Income tax department. In 2021, it was 26 days. In 2022, the time was 16 days. In 2023, the department has plans to reduce the time to 10 days. The income tax department launched the AIS app for viewing annual information statements and taxpayer information summaries. The app […]
NCLT approved the merger between Zee Entertainment and Sony India
NCLT approved the merger between the two companies. It is corporate news in the headlines. It also tells a story about the concerns of creditors, business development opportunities, benefits of the stakeholders and approval authorities in a merger. Cost accountants and company secretaries get involved in the merger and acquisition. The approval authorities in a […]
How to Calculate Customer Acquisition Cost?
In the digital world, it is essential to understand the difference between customer acquisition cost and customer lifetime value. Companies focus on low CAC and high CLTV. Here is a blog that lists the information related to the strategies for start-ups and online companies, the methods to calculate acquisition costs, and the uses of CAC […]
Opportunities in Deloitte US
Deloitte US opened three offices in India on May 2023. The locations are Pune, Chennai and Kolkatta. The blog talks about the roles and growth in Deloitte for Indians. Deloitte provides the following services: Audit and assurance, risk advisory, consulting, financial advisory and tax. The industries partnered with Deloitte work for consumer-based products, energy, resources […]
CMA 2023 Toppers Marks and Success Stories
ICMAI results show the demand and supply of professionals.ICMAI announced the results for December 2022. The results for June 2023 are yet to come. The results for June 2023 will be out on September 26, 2023. The June term examination has been conducted between July 15 to 22 for the intermediate and final levels of […]
