Hisaabkitab

Need qualified/ semi qualified ( CA Inter.) assistants for audit, finance, GST, Letter drafting, Tax compliances

Now a time has come to file your Income tax return for the F Y 2017-18. If you are a businessman, please note that whether you are a Salaried person, Senior Citisen or a Businessman the Income tax department knows more about you than we people as a CA know. Do not try to suppress any information about significant transaction you have done during the year. More so in the case of share trading, Mutual fund Investments and various SIP and SWP floated by Mutual Funds.
Best Luck

Dear all businessmen,
GST form 3B should be a blessing in disguise. I am sure most of you felt irritated in preparing and filing this form every month, more so at the time of making payment. but we had no choice. Now since the work is over for this year, let us see how it has helped us. All your Purchases, Expenses and Sales are now well accounted with almost 98% accuracy, Banks are opened today, download the Statements of accounts, and reconcile them in a week's time and update all the transactions. I am sure you will be able to finalise your Accounts for F Y 2017-18 before the end of this month

Whenever a fraud or mistake is detected, all eye brows are raised towards the auditors. Can I know how many of you know that the Auditor is the last person in the chain of Internal control and checks of any transaction. Every big organisation has its own laid down internal procedure, be it purchase, sale, employment of a person or simple donation. Many orgnisations have very strict procedure for "Vendor Selection" for approving the Vendors, setting their transaction limit for suppliers as well as for Contractors. Similarly their Sales departments approve the Credit Period to be offered to the Customer. While selecting or appointing any employee, its HR department conducts "Back ground Check". There are Inspectors for checking the material received and dispatched out. There are officers to check the work done by the clerical staff on day to day or as we say on "real time basis"

No doubts auditor has to verify the effectiveness of these checks and controls, my question is Why these persons are not first punished and then the auditors?

I am hurt because people who do not understand anything about Processes and methods of audits shout loudly on the auditors.