Tax Audit – Understanding Comparative Financials for Proprietorships in FY 2024–25
A Practical Guide for Chartered Accountants in Light of ICAI’s Latest Disclosure Requirements 🔰 Introduction Starting from April 1, 2024, the ICAI has introduced a standardized format for preparing financial statements of non-corporate entities, including sole proprietorships, partnerships, HUFs, and trusts. This change marks a significant step toward improving consistency and comparability in financial reporting,…