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The country of India has seen a lot of improvements when it comes to their Indian Event sector. In fact, the changes are so big that it is far from what people are used to in the past few years. It was originally seen as a platform to feature and organize celebrations but because of its transformation it is now considered to be a fundamental part of the industry where advertising and marketing is the focus. The industry gives more emphasis on conference management services which is why events are far better than before.

There are many factors that positively impacted the event industry in India and one of them is the marketers’ changing perceptions when it comes to event management. From the start, marketers recognize the importance of events in as a tool because compared to other platforms it is more tangible, prestige and grand. Marketers spend a lot more in organizing events such as award ceremonies, product launches and exhibits. There is a big difference compared to twenty years ago when events are thought to be an end but now it is viewed to be a channel where marketers can have interactions with their target audience.

Nowadays, events are more diverse such as product launches, corporate events, social gatherings and reality shows. The industry has welcomed these varieties of events prompting to more possibilities in the future. Many years ago, these events only happen sparingly but now there are organized events from various genres including fashion, music, technology, sports, social work, lifestyle and entertainment.

Technology has undergone such evolution that it impacts events directly along with growing experience and higher standards of excellence in the said industry. Together, the event industry has evolved to become customizable with focus on the clients.It was originally organized to be carefully planned, timely and efficient but now there are additional attributes of sentimentality and thoughtfulness.

Ask any company that provides conference management services and they will tell you that an events’ success is greatly dependent in the satisfaction of the customer. Therefore, an event should focus on supplying their needs and meeting their demands.

All of the tax payers dread the word tax audit. With the increased scrutiny and number of cases selected for tax audit by ATO increasing every year, taxpayers are better off being prepared for the audit. Since mistakes are human and a lot of calculation and typing mistakes might occur while filing for returns, it is better to be proactive and cover your tax audit costs.

Most of the accountants prefer to sell audit insurance to their clients to cover the professional expenses of tax audit. Tax audits are very time consuming and involve a lot of professional costs like the fee paid to professionals like accountants, lawyers, advisors and others. Since these professionals charge their fee by the hour, buying audit insurance helps taxpayers and their accountants to relieve the financial stress caused by tax audit.

Buying adequate audit insurance cover makes the process of filing returns relaxed and stress free. Since insurance covers both the taxpayers and their accountants, there is no risk of lost man hours and exceeding costs.

Audit protection insurance is especially beneficial for huge businesses which make use of a number of provisions and deductions provided in the tax laws to reduce their tax burden. It is also beneficial for taxpayers who have multiple sources of income and take multiple deductions.

However, the audit insurance policies do not cover all the tax audits. There are different types of audits conducted by the ATO and it is advised to read the terms and conditions of the offer document of the insurance policy carefully, before signing it. The amount covered by the audit insurance policy is also determined beforehand. The amount is fixed depending upon the turnover of the business, the amount of tax paid, type of business and the insurance cover required. Like any other insurance policy, taking adequate audit protection insurance cover is essential to cover all the professional costs involved in a tax audit.

Accountants with audit insurance are able to portray a positive and professional image to the clients. They receive a small commission from the insurance company on the premium paid by the clients. The insurance policy covers both the accountant and the client and so it is recommended to get the audit cover to lessen the financial burden of tax audit.