What is form 3CA and 3CD? Present tax audit limit? Recent amendments in applicability of tax audit?. How will you record goods in transit? What is credit risk? What is IRR? What is NPV? What is the difference between IRR and NPV? What is the relation between yield and coupon rate of bond? What is impairment? Examples of impairment? What is put option? What is associate investment?

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A series of questions related to tax audit, accounting, finance, and investments.

Form 3CA and 3CD are documents required for tax audit in India.
The present tax audit limit is Rs. 5 crores.
Recent amendments in applicability of tax audit include an increase in the threshold limit for businesses with digital transactions.
Goods in transit can be recorded using a transit account.
Credit risk is the risk of loss due to a borrower's failure to repay a loan or meet contractual obligations.
IRR (Internal Rate of Return) is the rate at which the net present value of an investment becomes zero.
NPV (Net Present Value) is the difference between the present value of cash inflows and the present value of cash outflows.
The difference between IRR and NPV is that IRR calculates the rate of return, while NPV calculates the value of an investment in today's dollars.
The yield of a bond is the rate of return earned on the bond, while the coupon rate is the interest rate paid on the bond.
Impairment is a reduction in the value of an asset due to a decline in its usefulness or market value.
Examples of impairment include obsolescence, physical damage, and legal restrictions.
A put option is a financial contract that gives the holder the right, but not the obligation, to sell an asset at a specified price within a specified time period.
An associate investment is an investment in a company in which the investor has significant influence, but not control.

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