Depreciation on iPad / tablets under Income Tax Act 1962?
Depreciation on iPad / tablets under Income Tax Act 1962 iPad is a communication device or a computer? Under the income tax act, a computer carries a higher rate of depreciation than a communication device. So, it is pertinent to know whether depreciation an iPad will be applicable of a communication device or of a… Continue reading Depreciation on iPad / tablets under Income Tax Act 1962?
Income Tax Deductions for Donations
Income Tax Deductions for Donations Most of us have been regularly doing something for needy people like donating and doing charity to Orphanages, NGOs, and Schools etc. It is indeed commendable to donate for the society and people around us. In order to promote and encourage people to donate more, the Government of India has… Continue reading Income Tax Deductions for Donations
Filling of Nil GSTR-3B through SMS
Filling of Nil GSTR-3B through SMS Every registered taxpayer is required to file GSTR-3B monthly which is the summary of all the inward and outward supplies taken during the month. Taxpayer can file the GSTR-3B by online & offline mode available on GST Portal. On 8th June CBIC through 44/2020 – Central Tax dated 8th June, 20 notification provided… Continue reading Filling of Nil GSTR-3B through SMS
Ind AS 38- Intangible Assets
Ind AS 38- Intangible Assets An intangible asset is an asset that does not have a physical existence and cannot be seen or touched but its existence can easily be felt. For example, Goodwill, Patent, Copyright, Formula, License, Recipe, Mastheads etc. The valuation of such an asset is complex and has to be carefully dealt… Continue reading Ind AS 38- Intangible Assets
Need of Internal Audit
Need of Internal Audit The purpose of auditing internally is to provide insight into an organization’s culture, policies, procedures, and aids board and management oversight by verifying internal controls like operating effectiveness, risk mitigation controls, and compliances with relevant laws or regulations. Reasons why there’s an importance of Auditing Internally Internal auditing programs are critical… Continue reading Need of Internal Audit
Amendments in CARO, 2020
Amendments in CARO, 2020 CARO 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013. CARO 2020 includes additional reporting requirements after consultations with the National Financial Reporting Authority (NFRA). NFRA is an independent regulatory body to regulate the audit and accounting profession in… Continue reading Amendments in CARO, 2020
5 Tips for Effective Small-Business Bookkeeping
A bookkeeper is responsible for identifying the accounts in which transactions should be recorded. When it’s finally time to audit all of your transactions, bookkeepers can produce accurate reports that give an inside look into how your company delegated its capital. The two key reports that bookkeepers provide are the balance sheet and the income… Continue reading 5 Tips for Effective Small-Business Bookkeeping
How to calculate depletion expense
To see how the calculations work, let’s use the earlier example of the company that buys equipment for $50,000, sets the salvage value at $2,000 and useful life at 15 years. The estimate for units to be produced over the asset’s lifespan is 100,000. Tracking the depreciation expense of an asset is important for reporting… Continue reading How to calculate depletion expense
What Does an AWS Cloud Support Engineer Do?
The role typically requires well-developed technical skills and most employers will look for candidates who have at least a few years of work experience in the technical field. Entry-level roles that help you hone the skills and languages needed for cloud engineering are a terrific springboard for mid- and upper-level positions. There are different roles… Continue reading What Does an AWS Cloud Support Engineer Do?
QuickBooks Pricing 2023: How Much Does QuickBooks Cost?
Afterward, continue reading our article for a more detailed comparison of the five QuickBooks Online versions. All Plus features for up to 25 users, plus a dedicated account team, advanced business analytics, employee expense management, batch invoicing, workflow automation and more. While cost is an important consideration, it shouldn’t be the only deciding factor when… Continue reading QuickBooks Pricing 2023: How Much Does QuickBooks Cost?