When can a Property be called as “Put to Use” ? What are the Effects ? What is the Logic behind this ? What are the...

Do’s and don’t in Audit of Scrap Generation How to Audit the Scrap Entry in Finsys ERP ( or any ERP of the World )...

Sale Audit… How to Audit the Sales Order and Sales invoices ? Audit of Accounts Receivables ( Debtors )   In our journey of making...

Audit of New Customer Creation   Today we are discussing New Customer Creation as an important area for the audit of Sale Audit. Read this...

What to Check in Sales Order?     We usually assume that if invoice is generated by system it has more reliability. That’s why sale...

We are Proud to share that we are Attending WOFA – New Delhi 2025. WOFA is World Forum of Accountants … See you there  ...

E Circular from I am SME of India This circular was authored by Mr Sangeet Kr Gupta , our Co Founder… This was dated 23-12-2024,...

RCM on GST on Metal Scrap Purchase from Unregistered Persons, Also TDS Starts for  Registered Suppliers This is a Big News. First Time Ever. Govt...

Advisory on Bank Account Validation on your GST Portal Validate your Bank, or your GSTR-1 will get STOPPED – Advisory GST dept notification alert Your...

Ideas and model clauses for the Audit Trail Qualifications…. in Audit Reports Small Company with semi dormant ,  like non moving companies, with no operations…....

What the topics, that a MLG team HOD must cover in the Financial Review Meeting  ( Note : This is an internal SOP.. .. the...

Bogus Purchases case study – Addition of full purchase or only Profit component ITO Vs SP International Whether in case of bogus purchases, the addition...

ACIT Vs Varun Resources Ltd Whether as per settled precedent, provisions of IBC 2016 prevail over provisions of Income Tax Act – YES: ITAT Whether...

There was a recent Decision in case of a Writ Petition No. 405/23 Karnataka HC. If life certificate is not submitted by pensioner; before stopping...

GST Rate Change for Corrugated Box, Mono Cartons from 18% to 12% Notification No. 02/2024-Central Tax (Rate)   Released to Public on 12-7-2024 … Effective...

Tax ALERT   This is normal yearly Quarterly SOP. Nothing new. But sending this reminder only for ready reference. We all know that we must...

Conditions in GST for Export indirect … Deemed Exports via Merchant Exporter…0.1% GST is not your “Right”, unless you do these duties. Terms and conditions...

Last Date was 15-5-2024 .. Hope you have already paid the MSME’s of last year fully. Alert dated 14th May-2024 at — 9 pm  ...

Dear MLG Team members and dear ICAI Students, as per ICAI Guidelines, a Audit Programme is good to start with now what things you must...

REGULARISATION OF “ADDITIONAL” DIRECTOR ? Appointed a Family member as Additional Director during the year ? Query in your mind ? How to make this...

Cost of Closing a Pvt Ltd company vs LLP,  ? Want to Close down a new Company or LLP ? What are the Advantages and...

Last few days left.. Be Alert … Some ideas and Tips in MSME 43B(h) -Income Tax Alert dated 20th April-2024 at — 4 pm Hope...

Tax Residency Certificate or TRC is a important document in International Taxation Many times when an Indian Business makes payments to Non Residents, the Rate of...

Does this Vigilance Mechanism apply to the Private Limited companies ? Answer is Yes, it does apply in some cases There is another compliance that...

Want to be systematic ? Want to reduce Wastages ? Want to prevent Leakages ? Want to do Preventive Action plan How to Account for...

EPS in AS-20, how to implement in MSME balance sheets Practical aspect in case of Bonus Shares Since in Reference : MCA website :  https://www.mca.gov.in/Ministry/notification/pdf/AS_20.pdf...

Equalisation Levy 2020 E commerce Service Provider 2 percent cases However, as of April 1, 2020, the Indian government has extended the scope of the...

Can a person be member of Multiple HUF’s ? Is it safe to be part of multiple HUF’s ….. Watch this … for some judgements...

Like to know the steps required for a amicable and systematic change in the Statutory Auditors … in your Private Limited Company ? [Academic discussion...

Gift from HUF to its members ? Taxes ? Status ? Legal position ? Gifts permitted by HUF to its members satisfying to the conditions...

Good News. Indian Government modifies Article 13 of DTAA for FTS. This is relating to Royalties and Fees for Technical Services with Spain The Central...

Last few days left.. Be Alert … Some ideas and Tips in MSME 43B(h) -Income Tax dated 21st-March-2024 : 9 am Try to pay all...

Ideas for better CSR compliance. Useful for Small and Medium Companies, Good & “Practical” ideas. CSR – Do’s and Dont’s – latest Notifications, guidelines ,...

Tips in MSME 43B(h) -Income Tax dated 2-March-2024 : 9 am Have you made your Financial Budget to pay all eligible MSME vendor’s : Arrange...

Partnership Deed : Things to remember in documentation Sirs, Use a proper template of Partnership Deed Try to incorporate the stamp paper in the document...

Webinar on Zoom. – Important MSME : 43B(h) : New income tax provisions … Powerpoint and study material of the webinar … at the bottom...

Advisory to MLG Clients : GST on Corporate Guarantee , GST on personal Guarantee What is the final position on Corporate Guarantee Fee or Directors...

Budget 2024 — Union Budget to continue towards a Great India, without any more taxes Interim Budget 2024: FM proposes Corpus of One Lakh Crore...

PAYTM was a Success story But now in a Problem .  PAY-TM …. a Pioneer but now a Chinese JV Bank in India No New...

Tax ALERT   This is normal yearly Quarterly SOP. Nothing new. But sending this reminder only for ready reference. We all know that we must...

Do you know that you can make a Single Challan for TDS –across – All sections, use upto 3 years Even today, some companies are...

Income earned from providing IT services to Indian customers is taxable in India due to use of service in India: ITAT The Income Tax Appellate...

Diwali Expenses – Allowed in Income tax or not ? ITC or not ? What is the Correct accounting SOP ? this question comes up...

AS-7 Construction related Contracts How to do the Costing provisions We Created this new page to help people who face the problem of a) Retention...

What is the Change in GST ?  vs from 1-Oct-2023 ? , what to do. ? Mix up on the social media, If you are...

Tax ALERT   This is normal yearly Quarterly SOP. Nothing new. But sending this reminder only for ready reference. We all know that we must...

Proprietorship vs Partnership vs Pvt Ltd vs LLP, what to do. ? Advantages vs Disadvantages, what to make for a Startup / New Venture ?...

Interplay of TDS 194Q and TCS 206(1H) — 100% Clarity Attention is drawn to this line  in last para of 206(1H) “…..Provided further that the...