22 Mar Guidelines Regarding Cash Limits in Home under Tax Regulations
Under the provisions of the Income-Tax Act (ITA) of 1961, there exists no stipulation on the maximum amount of cash permissible to be kept within one's residence....
Direct tax regulations Tag
21 Mar Auditor’s Accountability for Audit Trail Reporting
An essential aspect of maintaining financial transparency and accuracy is the implementation of an audit trail, which serves as a detailed record tracking the origin and modifications of financial transactions within a system. Auditors are obligated to report on the adequacy and effectiveness of these...
20 Mar Guidelines on Cash Limits and Tax Implications for Individuals
As per the Income-Tax Act (ITA), 1961, there is no restriction on the amount of money stored in the house; in case of an income tax raid, an individual is required to present the source of the money....