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In a significant development, the recent update is that the Income Tax Department started issuing Refund Failure Notices for the reason of "PAN not linked with Bank Account".

IT Department issuing Refund Failure Notices for "PAN not linked with BANK"

In a significant development, the Punjab State Government has increased Registration fees for Partnership Firm Registration from Rs.3 to Rs.5000.

State Government increased Registration Fees for Registration of Partnership Firm from Rs.3 to Rs. 5000

State Government increased Registration Fees for Registration of Partnership Firm from Rs. 3 to Rs. 5000

An audit engagement letter is a formal agreement that specifies the scope of your work as an auditor, what the client is liable for, how long the audit is expected to take and other details

Draft Format of Tax Audit Engagement Letter for Tax Audit under Section 44AB

The newly added clause (h) states that any sum payable to a MSE after the time limit specified in Section 15 of MSMED Act shall be allowed as a deduction only in the previous year.

Draft Comments for Sec 43B(h) on Tax Audit Report

Section 43B(h) encourages large companies or entities to settle debts with MSMEs within the stated time frame, which is 15 days without a written agreement and 45 days with an agreement.

External Confirmation in relation to Sec 43B(h) to the Vendor of Auditee

The Finance Act 2023 added Section 43B(h), which states that any payment owed to MSE for goods sold or services rendered may be deducted in the same year if paid by the deadline specified by the MSMED Act, 2006.

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IT Department issuing Refund Failure Notices for "PAN not linked with BANK"

State Government increased Registration Fees for Registration of Partnership Firm from Rs. 3 to Rs. 5000

Draft Format of Tax Audit Engagement Letter for Tax Audit under Section 44AB

Draft Comments for Sec 43B(h) on Tax Audit Report

External Confirmation in relation to Sec 43B(h) to the Vendor of Auditee

Draft Letter to the Auditee by the auditor in relation to Compliance of Section 43B(h)