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I applied via Company Website and was interviewed in Sep 2023. There were 3 interview rounds.
Sec 43(b) of income tax deals with deduction of expenses related to business or profession.
Sec 43(b) allows deduction of certain expenses incurred for business or profession.
These expenses must be revenue in nature and not capital in nature.
Examples of such expenses include rent, salaries, repairs, etc.
The deduction is allowed in the year in which the expenses are actually incurred.
Tax audit limit for individual and partnership firm is Rs. 50 lakhs and Rs. 1 crore respectively.
Tax audit limit for individuals is Rs. 50 lakhs of turnover or gross receipts in a financial year.
Tax audit limit for partnership firms is Rs. 1 crore of turnover or gross receipts in a financial year.
If the turnover or gross receipts exceed the specified limit, tax audit is mandatory.
Tax audit helps in ensuring the accurac...
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I applied via Naukri.com and was interviewed before Sep 2022. There were 3 interview rounds.
IFRS 15 is a revenue recognition standard that outlines principles for recognizing revenue from contracts with customers.
IFRS 15 provides a single, comprehensive revenue recognition model for all contracts with customers.
It requires entities to identify performance obligations in a contract and allocate the transaction price to each obligation based on their standalone selling prices.
Revenue is recognized when control ...
Testing debtors more than 3 years involves thorough analysis of financial records and communication with debtors.
Review financial statements for outstanding debts older than 3 years
Contact debtors directly to inquire about the status of the debt and attempt to collect payment
Consider legal action if necessary to recover the debt
Evaluate the likelihood of collecting the debt and adjust financial records accordingly
posted on 25 Mar 2023
I applied via Company Website and was interviewed before Mar 2022. There were 3 interview rounds.
posted on 16 May 2023
I applied via Company Website and was interviewed in Nov 2022. There were 4 interview rounds.
posted on 15 Dec 2022
I applied via Walk-in and was interviewed before Dec 2021. There was 1 interview round.
I applied via Company Website and was interviewed before Dec 2021. There were 3 interview rounds.
Risk of material misstatement procedure is a process to identify and assess the risk of errors or fraud in financial statements.
The procedure involves understanding the entity and its environment, including internal controls.
It also includes assessing the risks of material misstatement due to fraud or error.
The auditor then designs and performs audit procedures to address the identified risks.
Examples of procedures inc...
I applied via Walk-in and was interviewed before Oct 2022. There were 3 interview rounds.
Writing test about the subject
posted on 9 Mar 2021
I applied via Naukri.com and was interviewed in Feb 2021. There was 1 interview round.
posted on 21 Apr 2021
I applied via Naukri.com and was interviewed in Mar 2021. There were 5 interview rounds.
posted on 10 Jun 2022
I applied via Recruitment Consulltant and was interviewed in May 2022. There was 1 interview round.
K-1 and K-2 forms are used for fiancé(e) and dependent visas respectively in the United States.
K-1 form is used for fiancé(e) visas and K-2 form is used for dependent visas in the US
K-1 form allows a US citizen to bring their fiancé(e) to the US for marriage within 90 days
K-2 form allows the dependent children of the K-1 visa holder to accompany them to the US
Both forms require extensive documentation and background ch
based on 1 interview
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