Corporate guarantee Corporate guarantee: An LLP (Limited Liability Partnership) can provide this on behalf of another entity, subject to the terms and conditions. It is set forth in the partnership agreement and compliance with applicable laws and regulations. A corporate guarantee is a commitment by one entity (the guarantor) to be responsible… Read More »
Form 15CB Form 15CB is a certificate issued by a Chartered Accountant (CA) in India. It is require for certain international transactions involving the transfer of money to non-resident individuals or entities. Here’s an explanation of Form 15CB meaning: 1.Purpose: Form 15CB is use to certify that the remittance being made to a non-resident or… Read More »
Compliance of TDS Provision Compliance of TDS (Tax Deducted at Source) provision is essential for individuals and businesses responsible for deducting and remitting TDS. The compliance requirements can vary depending on the country and its tax laws. Here are some common compliance aspects of TDS provisions: TDS Registration: Depending on the country and its… 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 »
How to do GST compliance for private limited company Compliance with GST for a private limited company entails meeting the prescribed guidelines and fulfilling the requirements of the Goods and Services Tax (GST) as established by the tax authority. Here are some key aspects of GST for Private limited company: GST Registration: If your company… Read More »
Income tax demand a contingent liability Yes, the interest on income tax demand is a contingent liability because it is a potential obligation that arises from an event that has already occurred, which is the assessment of additional income tax. However, the final amount of interest payable may depend on various factors, such as the… Read More »
Section 194Q of Income Tax Act Section 194Q of the Income Tax Act, introduced in the Union Budget 2021 and effective from 1st July 2021, is a provision that specifically applies to buyers making payments to resident sellers for the purchase of goods. To visit:https://www.incometax.gov.in According to this provision, if a buyer makes payments exceeding… Read More »