Income Tax: INCOME CHARGEABLE UNDER THIS HEAD [SECTION 28]

    The various items of income chargeable to tax as income under the head ‘profits and gains of business or profession’ are as under: (1)   Income from business, profession, or vocation: Income arising to any person by way of profits and gains from the business or profession carried on by him at any time … Read more

ICDS: What is ICDS? | Applicability of ICDS and disclosure requirements under income tax act.

  The notified ICDSs have to be followed by all assessees (other than an individual or an undivided Hindu family who is not required to get his accounts of the previous year audited in accordance with the provisions of section 44AB) following the mercantile system of accounting, for the purposes of computation of income chargeable … Read more

ICAI has issued the Scope of the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)

  A. This Guidance Note covers assurance engagements other than audits or reviews of historical financial information, as described in the Framework for Assurance Engagements (Assurance Framework) issued by the ICAI. This Guidance Note does not apply to assurance engagements for which subject-specific Standards on Assurance Engagements have been issued by the ICAI. Not all … Read more

M/s Sabin Maden & Associates

Tax liabilities as per new tax regime

    The M/s Sabin Maden & Associates is a Chartered Accountants firm having the registered office at 75 PDA Complex Lamphal Supermarket Imphal Manipur. The firm was established in Jun 2021 and owned by proprietor Sabin Maden Limbu ( Chartered Accountant)   The firm has been engaged in providing the services of auditing, accounting, GST return … Read more