Why Documentation Is the Backbone of Digital Accounting

In an increasingly fast-paced and technology-driven business environment, digital accounting has emerged as the foundation of modern financial management. Advanced accounting software enables real-time transaction recording, instant reporting, and seamless process management. However, regardless of how sophisticated the system may be, its reliability ultimately depends on the strength of the documentation supporting it. Without proper records, digital accounting quickly loses its credibility, efficiency, and compliance…

Gig Workers, Labour Codes, and the Possible Compliance Challenge for Corporates

India’s labour law reforms mark a fundamental recalibration of how work is regulated in an increasingly digital and platform-driven economy. For corporates and legal advisors, these reforms go beyond legislative consolidation, introducing new statutory obligations, compliance risks, and governance considerations, particularly for gig and platform workers. A clear understanding of these changes is essential for businesses engaging large, flexible workforces and for legal teams advising…

Understanding Input Tax Credit on Capital Goods under GST

Capital goods under GST refer to assets such as machinery, equipment, or vehicles that are used or intended to be used in the course or furtherance of business and that provide economic benefits over a period of more than one year. These assets are in the nature of long-term investments that contribute to income generation and are not consumed immediately in the normal course of…

Understanding Refund Holds Under the Income Tax Risk Management Framework

Recently, thousands of taxpayers have received SMS alerts or emails informing them that their income tax refunds have been placed on hold by the Income Tax Department under its Risk Management Strategy.  These communications have drawn widespread attention and concern, prompting the need to understand the intent, mechanism, and implications of such refund holds. The Risk Management Strategy (RMS) leverages data analytics, third-party information, and…

Evolving Role of Auditors in an AI Driven Financial World

In today’s rapidly evolving technological landscape, artificial intelligence (AI) is reshaping financial reporting and auditing in profound ways. While AI significantly enhances efficiency, accuracy, and analytical depth, it also introduces new layers of complexity and risk that can affect the credibility of financial information. Amid these changes, auditors play a critical role in ensuring that financial reports remain reliable, transparent, and compliant with regulatory standards,…