We are honored to have received Two Awards at the Intuit Quickbooks Excellence Awards 2013 in association with Bloomberg TV India at Delhi on 21st November 2013. Naresh J Patel & Co, Chartered Accountants received “ACCOUNTANT OF THE YEAR” and for NRI Advisory received “CUSTOMER CENTRIC BUSINESS OF THE YEAR”. At the event, total […]
Expenditure Allowed to Micro or Small Ent on Payment basis under Sec 43B(h) – effective from 01.04.2023 Click Here to watch Video explaining these Amendment or altenatively you may read through blog. In order to promote timely payments to micro and small enterprises, a new clause (h) has been inserted in […]
How to Restore ICAI membership? If your ICAI membership is disabled, kindly follow the following steps to restore the membership: Step – 1 Login to Self Service Portal (SSP) of ICAI https://eservices.icai.org/ User Id – membershipnumber@icai.org and Password In case if you forgot password, click link forgot password to reset the […]
Exceptional and Extraordinary Items under AS and Ind AS (IFRS) The terms exceptional and extraordinary items are sometimes used interchangeably and creates practical issues as to whether any items can be labeled as such and if yes in which circumstances. The blog provides the understanding on the meaning of these terms, […]
Illustrative list of Observations/Comments/Remarks in Tax Audit Report Form 3CA/3CB PREFACE The stakeholders like government, bankers etc has high expectations from Tax Audit. The Quality of Tax Audit report is very important documentation that evidences the work carried out by Tax Auditor in discharge of duty. Form 3CA/3CB is the Only […]
Which retirement accounts is right for you in United States? (Roth IRA or Traditional IRA) IRA (Individual retirement accounts) are a key part of long term savings and investment. But before you open the account, you first need to understand which retirement accounts is benefit for you. Each IRA have its […]
Tax Return 1040: Standard Deduction vs Itemized Deduction Tax Return for Individuals (in USA) Form 1040 provides option of selecting Deductions from income either Standard or Itemised. The Standard deduction is a fixed amount that reduces the income you’re taxed on but for itemized deductions, you need to keep track of […]
A lot of people are moving back to India because of multiple reasons like retirement, career – business or job, family or visa issues or any other reasons. “Why move” is THE most important decision. Once you have made up your mind, the next thing comes to mind is how best […]
Budget 2021 was projected as “Budget Like Never Before” creating a lot of expectations in tax benefits for tax payers. While there is not much changes in the tax codes, it is a great budget as it paves a way for establishing a trusting relationship between investors and tax payers. The […]
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval on 13th March 2020 for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP). The Indian Government has come up […]
2020 has been an unusual year in everyone’s life affecting us both emotionally and financially. As 2020 is coming to an end, I analyzed it to understand how the year profoundly affected our financial life – businesses, finances, cash flow, income, expenses, savings, investments, insurance, families, and other aspects of our […]