A stock audit, also known as an inventory audit, is a systematic examination and verification of a business’s inventory, ensuring that what’s recorded in the books matches what actually exists in the warehouse or storage locations. It plays an essential role in business control, financial accuracy, and regulatory compliance. 1. What Is a Stock Audit?… Continue reading Stock Audit Explained: Process, Types, and Importance
1. Introduction to Defective Returns A defective return is an income tax return (ITR) which has already been filed but it contains various errors or mistakes, making it non-compliant in relation to requirements stipulated under the Income Tax Act. These errors may arise due to various reasons, such as wrong information, missing data entry, or… Continue reading What is Defective Return and How to Rectify the Defects in Defective Return
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