SDMA Consultants Pvt Ltd

06/04/2023

Not just in India, but Amul is one of the Largest Dairy Companies in the World.

06/04/2023

27/03/2023

In the Union Budget for 2023-24, the government expanded the scope of full rebate on income tax under the new tax regime to an annual taxable income of Rs 7 lakh from Rs 5 lakh earlier. However, those earning even marginally higher than the threshold were required to pay tax on sub-Rs 7 lakh slabs as well. To provide relief to such taxpayers, the government has amended the Finance Bill, limiting the tax outgo to the incremental taxable income over Rs 7 lakh per year.

15/03/2023

Important accounting and audit trail requirements from 01.04.2023

As per Ministry of Corporate Affairs (MCA) notifications No. G.S.R. 205(E) dated 24.03.2021, G.S.R. 247(E) dated 01.04.2021 & G.S.R. 235(E) dated 31.03.2022 (Copy of Notifications attached) states that every company which uses accounting software for maintaining its books of account, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled

Comment: such trail shall include deleted transactions trail also plus as auditors we need to amend audit programs and internal control checks suitably and if any deviation found then it needs to be reported in our reporting too.

kindly check accounting software having all above features w.e.f. 1st April, 2023

05/06/2021