Partnership file as an s-corp Partnership file as an s-corp, No, a partnership cannot file as an S Corporation (S-Corp). S-Corp is a specific tax designation available for certain types of corporations in the United States. A partnership, on the other hand, is a distinct business entity with its own tax treatment. Partnership… Read More »
GST registration for private limited company Yes, GST (Goods and Services Tax) registration is mandatory for a private limited company in India under certain circumstances. Here are the general criteria for GST registration: Threshold Turnover: If your company’s annual turnover exceeds the specified threshold, GST registration is mandatory. The threshold limits vary based on the… Read More »
GST Compliance Requirements GST compliance requirements, To ensure GST compliance, businesses need to fulfil certain requirements and obligations. Here are some key requirements for Gst compliance requirements : GST Registration: Businesses whose turnover exceeds the specified threshold (varies by country) are required to register for GST. The registration process involves providing necessary information to… Read More »
GST Compliance Services GST compliance services refer to the proficient assistance provided by tax consultants, accountants, or specialized firms, aimed at aiding businesses in fulfilling their GST compliance obligations. These services are design to ensure that companies effectively meet all the necessary requirements associated with GST compliance services. These services are designed to help businesses… Read More »
TDS Compliance for Partnership Firm TDS Compliance for Partnership Firm, For a partnership firms, compliance with TDS (Tax Deducted at Source) provisions is important to fulfil its tax obligations. Here are some key aspects of TDS compliance for a partnership firm: TAN Registration: The partnership firm must obtain a valid Tax Deduction and Collection… Read More »
New compliance under GST New compliance under GST, Here are some common compliances requirements under the Goods and Services Tax (GST) in India. GST Registration: Businesses whose turnover exceeds the prescribed threshold are required to register for GST. GST Returns: Registered taxpayers need to file regular GST returns based on their category and turnover.… Read More »
How much GST-registration can be issued on one PAN number A single PAN (Permanent Account Number) number can be used to register for GST (Goods and Services Tax) only once. This means that only one GST registration can be issued per PAN number. However, businesses with multiple businesses verticals or branches operating in different states… Read More »
TDS compliance for LLP For a Limited Liability Partnership (LLP), compliance with TDS (Tax Deducted at Source) provisions is important to fulfill its tax obligations. Here are some key aspects of TDS compliance for an LLP: 1.TAN Registration: The LLP must obtain both valid Tax Deduction and Collection Account Number (TAN) from the tax authorities.… Read More »
TDS compliance in tax audit report TDS compliance in tax audit report, In the context of a tax audit report, ensuring compliance with TDS (Tax Deducted at Source) is a vital factor that requires attention. Here are some key considerations regarding TDS compliance in a tax audit report: Verification of TDS Deductions: The tax auditor will… Read More »
Company registration for GST Yes, company registration is mandatory for GST registration in India. Only entities that register under a legal structure recognize by the Indian law can apply for GST registration. This includes companies registered under the Companies Act, 2013, as well as other types of entities such as LLPs (Limited Liability Partnerships), partnerships,… Read More »