Sir.. in Risk Assessment and Internal Control Chapter…… Considerations for Effectiveness and Efficiency AND General Implementation of Internal Check System are two different points but in scanner of Pankaj Garg sir there is question to state the considerations on which Effectiveness of an efficient system of Internal Check depends and answer of this question is given as General Implementation of the Internal Check System… What I do??.
ANSWERED Ravi answered 21 hours ago    Category:
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 In clause 28 of 3CD report, Where Assessee has received any property being shares of a company without consideration in section 56(2)(viia), the aggregate fair value of which exceeds Rs.50000, then whole amount is treated as “ Income from Other sources”.here reporting is required in form 3cd. Whether there is change in this like…I have read this from Scanner of Audit Pankaj sir. Finance Act 2017 amends Sec.56(2), as per provision of sec 56(2)(viia) are not applicable for transactions taken place on or after 01.04.2017 , so due to this This transaction now , falls under clause (x) of sec.56(2). At present No reporting is required in form 3cd for transaction falling u/s 56(2)(x).
ANSWERED Ravi answered 3 days ago    Category:
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