Service tax notices to IT firms: Concerns will remain till rules are amended, say Experts
New Delhi, December 14, 2017
Even though the tax department has set aside a clutch of orders sent to IT companies reversing their tax exemptions in respect of IT/IT-enabled services (IT/ITes) provided to clients abroad and also slapping service tax and penalty on them, tax experts said the “technical issue” could linger.
Beware of PCAOB Changes to Standard on Auditor’s Reporting Model Set for Dec. 15
Dec 13th 2017
The Public Company Accounting Oversight Board (PCAOB) recently issued guidance for the new auditor’s reporting model in Auditing Standard No. 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion.
Banks, insurance companies under lens for inflated tax credits
December 14, 2017
The government is keeping a watch on some banks, insurance companies and technology and telecom firms after it announced that errors in tax credit claims should be rectified, according to two people aware of the matter.