Search results
Results from the WOW.Com Content Network
Tax deduction at source. Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority). Under the Indian Income Tax Act of 1961, income ...
Each tax deductor is uniquely identified by a TAN. The first three characters represent the city or state where the TAN was issued. The fourth character represents first character of the name (company, firm, individual, etc) of the deductor. And the next 5 characters are numerics. And Last character is a letter.
The most basic definition of a plug may be "a placeholder number which is used in an overall cost or budget estimate until a more accurate figure can be obtained". [2] Plugging has been described as "the use of false numbers in financial ledgers that forces balances, and effectively masks accounting errors and control deficiencies". [3]
Trade reporting and compliance engine (TRACE), is a United States financial reporting regulation and related system for publicly reporting bond transactions.. Unlike stocks, which generally trade transparently on public exchanges, corporate bonds and structured products trade "over-the-counter", meaning they are private transactions between individual counterparties, and so the transactions ...
A Tax Receivable Agreement (TRA) is a legal contract where a company agrees to share the economic benefits from certain tax savings with another party.These tax savings may relate to deductions for depreciation, goodwill amortization, and net operating losses.
Process costing. Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production. Eventually, costs have to be allocated to individual units of product.
The Trade Control and Expert System (TRACES), is a web-based veterinarian certification tool used by the European Union for controlling the import and export of live animals and animal products within and without its borders. Its network falls under the responsibility of the European Commission. TRACES constitutes a key element of how the ...
Vouching is a technical term that refers to the inspection of documentary evidence supporting and substantiating a financial transaction, by an auditor. It is the essence of auditing [1] Vouching is the practice followed in an audit, with the objective of establishing the authenticity of the transactions recorded in the primary books of account.