Discover and read the best of Twitter Threads about #taxaudit
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🧵Demystifying GST Audits: Section 65 & Rule 101. Understanding Both Sides of the Audit Journey! 💼🔍
Read this thread to gain a complete understanding of GST audits, covering Section 65 and Rule 101.
#GST #TaxAudit #DemystifyingAudits
Read this thread to gain a complete understanding of GST audits, covering Section 65 and Rule 101.
#GST #TaxAudit #DemystifyingAudits
🔸The Commissioner or any officer authorized by him, may undertake audit of any registered person for a financial year or part thereof or multiples thereof at such frequency and in such manner as may be prescribed
🔸The officers referred above may conduct audit at the place of business of the registered person or in their office
#TAXAUDIT | New disclosures in form 10B for charities include:
- List of board/trustees
- List of a/c books/records
- Earning from activities of General Public Utility
- Business activity
- Donations in kind
- Anonymous donations
- 10BD details
- Breakup of donations
1/n
- List of board/trustees
- List of a/c books/records
- Earning from activities of General Public Utility
- Business activity
- Donations in kind
- Anonymous donations
- 10BD details
- Breakup of donations
1/n
- Application of income under 8 categories further sliced & diced as
• cash & electronic payments
• capital & revenue
- Details of payees getting > ₹50 lakh during year
- Disallowances
- Application of income acc to sources (corpus, reserves, accumulated, etc)
2/n
• cash & electronic payments
• capital & revenue
- Details of payees getting > ₹50 lakh during year
- Disallowances
- Application of income acc to sources (corpus, reserves, accumulated, etc)
2/n
- Detailing of TDS on category-wise receipts
- Sale/transfer of capital assets to others
- Listing of key persons covered u/s 13(3)
- Details of any legal violation (for canceling tax registration)
- Details of corpus, FC, loans, application o/s India, accumulation
3/n
- Sale/transfer of capital assets to others
- Listing of key persons covered u/s 13(3)
- Details of any legal violation (for canceling tax registration)
- Details of corpus, FC, loans, application o/s India, accumulation
3/n
CBDT has extended due date for filing of various reports of audit for the Assessment Year 2022-23 to 07/10/2022.
#Extend_Due_Date_Immediately
#Extend_Due_Date_Immediately
Source- @CNBCTV18Live
Excellent #Budget2021 by @narendramodi govt
16.5 lakh Cr Agri Credit allocation&Rs 1.18 lakh Cr for roads
Massive 34.5% rise Capital Spending at 5.54 lakh Cr
137% rise in Health budget
Income Tax scrutiny reduced from 6 to 3 yrs;No Double taxation of NRIs
#Growth,the focus
16.5 lakh Cr Agri Credit allocation&Rs 1.18 lakh Cr for roads
Massive 34.5% rise Capital Spending at 5.54 lakh Cr
137% rise in Health budget
Income Tax scrutiny reduced from 6 to 3 yrs;No Double taxation of NRIs
#Growth,the focus
Hike in Insurance #FDI from 49% to 74%,pro #Reforms💪
#Dividend income invested In InvITs &REITs,tax free
No advance tax liability on Dividend income
#LIC IPO--BIG
#Disinvestment of BPCL,Pawan Hans,Air India,Concor,IDBI,Beml, Shipping Corp--BIG
64180Cr #Healthcare budget-BIG
#Dividend income invested In InvITs &REITs,tax free
No advance tax liability on Dividend income
#LIC IPO--BIG
#Disinvestment of BPCL,Pawan Hans,Air India,Concor,IDBI,Beml, Shipping Corp--BIG
64180Cr #Healthcare budget-BIG
5 Mega #Fishing harbours
7 Mega #Textile Parks
Agri Infra Fund to be available to #APMCs
Voluntary #VehicleScrapping policy
20000Cr #Recapitalisation of PSBs
#ARC to take over stressed assets
7 Port projects to be developed via PPP
18000Cr for Bus Transport
#Modinomics💪
7 Mega #Textile Parks
Agri Infra Fund to be available to #APMCs
Voluntary #VehicleScrapping policy
20000Cr #Recapitalisation of PSBs
#ARC to take over stressed assets
7 Port projects to be developed via PPP
18000Cr for Bus Transport
#Modinomics💪
#AatmaNirbharBharatAbhiyan
Based on 👇
Land,Labour,Liquidity&Laws that are not isolationist but inclusive
Ease of Doing Business
DBT,JanDhan,Aadhar, Micro Insurance,Ujjwala Yojana, Ayushman Bharat, PM Awaas Yojana,PM FasalBima Yojana,Krishi Sinchai,Swachh Bharat--Key Landmarks
Based on 👇
Land,Labour,Liquidity&Laws that are not isolationist but inclusive
Ease of Doing Business
DBT,JanDhan,Aadhar, Micro Insurance,Ujjwala Yojana, Ayushman Bharat, PM Awaas Yojana,PM FasalBima Yojana,Krishi Sinchai,Swachh Bharat--Key Landmarks
GST,IBC&PSU Bank Recapitalisation in last 6 yrs,have been big reforms
52606Cr given via #DBT to 41Cr #JanDhan holders
Free wheat&rice to 69Cr ration card holders
18000Cr tax refunds given
Free cylinders to 8Cr #Ujjwala holders
#20lakhcrores #COVIDー19
#atmanirbharbharat
52606Cr given via #DBT to 41Cr #JanDhan holders
Free wheat&rice to 69Cr ration card holders
18000Cr tax refunds given
Free cylinders to 8Cr #Ujjwala holders
#20lakhcrores #COVIDー19
#atmanirbharbharat
Project DevelopmentCells,working for Promotion of Champion Sectors,in States
#MakeInIndia&Upgradation of Industrial Infra,a success&more will be done to #Decongest economy
3376 SEZs&IndustrialParks with 5 lakhhectares,to be ranked& mapped,in terms of readiness for competition
#MakeInIndia&Upgradation of Industrial Infra,a success&more will be done to #Decongest economy
3376 SEZs&IndustrialParks with 5 lakhhectares,to be ranked& mapped,in terms of readiness for competition
