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An ordinance has been passed to reduce the corporate tax rate to 22% + surcharge and cess to provide relief to business entities. Businesses have welcomed this slashing of tax rates as a promising step by the Govt. in helping the economy.
Due to amendment in Finance Act, 2016, applicability of Tax audit in cases where turnover < 1 crore and net profit < 8%, tax audit is not applicable
Sample Disclosure as per Income Computation and Disclosure Standards for reporting in Tax Audit report for FY 2016-17.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
