Recently Income Tax Department has increasingly issued notices under Section 133(6) of the Income Tax Act, 1961. Historically, these notices were primarily used to cross-verify third-party information during scrutiny assessment…
Importance of Internal Financial Controls and Risk Control Matrix in Business Success
In the modern business landscape, robust Internal Financial Controls (IFCs) are crucial for maintaining accurate and reliable financial reports. IFC and creating a Risk Control Matrix (RCM) are key to…
Your Guide to Meal Card Tax Savings and Other Benefits
Employers frequently offer food vouchers, such as meal cards, to their employees. These prepaid meal cards can be used by employees to purchase meals and non-alcoholic beverages, providing a convenient…
Ensuring Fairness: Redefining E-Way Bill Penalties
A recent judicial ruling emphasized the critical importance of adhering to procedural fairness in the context of E-Way bill compliance under the CGST/UPGST Act. This case highlights the pivotal question…