AIF Compliance Test Report (CTR): Timelines, Trustee Review and What It Must Cover Every April, AIF managers face a document that looks like an internal checklist but behaves like a statutory dialogue: the Compliance Test Report (CTR) . It is prepared by the manager, scrutinised by ... AIF Fund Compliance Fund Governance Investor Protection SEBI 31-Oct-2026 AIF & Fund Regulation
After Filing Your Income Tax Return: AIS Mismatches, Notices and Time Limits The return is uploaded, verified and the acknowledgement is in your inbox. For many taxpayers, that is where the year ends. In practice, it is where the department's review begins. Your return will be... Direct Tax Income Tax Tax Assessment Tax Notice 31-Oct-2026 Income Tax
Accurate Financial Statements, Weak Internal Controls: The Hidden Governance Risk The numbers reconciled, the statutory audit was signed without qualification and the accounts were properly presented. Then an internal audit review found that one person controlled vendor onboarding,... Audit Committee Corporate Governance Internal Audit Internal Controls 31-Oct-2026 Internal Audit & Governance
Reconciliation Controls: Why Reconciliations Without Review Still Let Errors Through Every month the accounts team prepared bank, vendor and customer reconciliations. The files were saved, the totals agreed and the checklist was ticked. Yet the numbers were not reliable. An internal a... Corporate Governance Internal Audit Internal Controls 31-Oct-2026 Internal Audit & Governance
Wrong Deduction Claims in Your ITR: How They Lead to Tax Notices and Penalties An employee claims the full ₹1.5 lakh under section 80C, health insurance under 80D, a donation receipt handed over by a colleague and house rent allowance for a flat owned by his parent. His employer... Direct Tax Income Tax Tax Assessment Tax Notice 31-Oct-2026 Income Tax
Customer Concentration Risk in Due Diligence: How to Measure and Price It Revenue was growing consistently, until one client walked away. Overnight, a business with rising sales and stable margins looked vulnerable, because it had never been diversified; it had been depende... Due Diligence Financial Due Diligence M&A Quality of Earnings 31-Oct-2026 Due Diligence
AIF Contribution Agreement and PPM: Why the Agreement Cannot Go Beyond the PPM An anchor investor asks for a lower management fee and a right to exit early. The manager agrees and adds a clause to that investor's contribution agreement, while the Private Placement Memorandum (PP... AIF Fund Governance Investor Protection SEBI 31-Oct-2026 AIF & Fund Regulation
AIF Quarterly and Annual Activity Reports: SEBI Filing Deadlines After the 2026 Changes A fund manager can close a strong quarter of deal-making and still put the registration at risk by missing a single online filing. In 2026, SEBI has cancelled the registration of more than one AIF for... AIF Fund Compliance Fund Governance SEBI 31-Oct-2026 AIF & Fund Regulation
Gift Tax in India: When a Gift Is Tax-Free and When It Becomes Taxable Income ₹2 lakh arrives in your bank account from a close family friend who wants to help with your child's admission. Another ₹2 lakh arrives from your maternal uncle. Both transfers are genuine and through ... Direct Tax Income Tax Tax Notice Tax Planning 31-Oct-2026 Income Tax
Segregation of Duties and Maker-Checker Controls: Why Approval Alone Is Not Control Every payment had a signature. Every expense had a voucher, an approval stamp and supporting documents. On a compliance checklist, the company scored well. But an internal audit review found that for ... Companies Act Corporate Governance Internal Audit Internal Controls 31-Oct-2026 Internal Audit & Governance
How Fraud Starts Small: Control Exceptions, Early Warning Signs and Internal Audit Tests Nobody stole a large sum on day one. A policy was bypassed once because a supplier needed urgent payment. An approval was taken on a phone call. A photocopied invoice was accepted because the amount w... Corporate Governance Fraud Risk Internal Audit Internal Controls 31-Oct-2026 Internal Audit & Governance
High-Value Transactions and Income Tax: What SFT Reporting Reveals in Your AIS A business owner declares a modest taxable income. In the same year he deposits cash in his savings account, pays a large credit card bill, subscribes to mutual funds and books a flat. Each transactio... AIS Direct Tax Income Tax Tax Notice 31-Oct-2026 Income Tax