Turnover Certificate Format However, here are some common elements that are typically included in a turnover certificate format: 1. Heading: The certificate usually begins with a heading that states “Turnover Certificate” or a similar title to clearly indicate the purpose of the document. 2. Company Information: The certificate includes the name, address, and… Read More »
Provisional Financial Statements Preparing provisional financial statements entails the development of interim financial statements for a designated timeframe prior to the availability of the final statements. Here are the steps to prepare Provisionals financial statements: 1. Gather Available Data: Collect all available financial data for the period you want to prepare the pro visional… Read More »
15CA/CB certificate 15CA/CB certificate, The requirements for obtaining the 15CA and 15CB certificates vary based on the nature of the transaction and the guidelines set by the Indian tax authorities. Here are the general requirements for each certificate: Form 15CA Requirements: 1. PAN (Permanent Account Number): The person making the remittance (remitter) must… Read More »
Differences between 15CA and 15CB Differences between 15CA and 15CB, The main differences between 15CA and 15CB lies in their purpose and the entities responsible for their issuance. Here’s a breakdown of the differences between 15CA and 15CB the two forms: Form 15CA: 1.Purpose: Form 15CA is a declaration form that individuals or entities… Read More »
Book Keeping Book keeping is a subset of accounting and refers to the process of recording and organizing financial transactions of a business. It involves systematically recording the financial activities such as sales, purchases, receipts, and payments in appropriate books or electronic records. Accounting, on the other hand, encompasses a broader set of activities… Read More »
15CA/CB Compliance 15CA/CB compliance involves adhering to the legal obligations established by the Indian government regarding the transfer of funds from residents to non-residents. It involves the submission of Form 15CA and obtaining Form 15CB to ensure proper reporting and taxation of cross-border transactions. To achieve 15CA/CB compliance, the following steps need to be… Read More »
Form 15CA CB purpose Form 15CA CB purpose, The Indian government mandates the use of 15CA and 15CB forms for specific financial transactions involving non-residents. Here’s a brief explanation of each form: 1.Form 15CA: This form is use for remittances (money transfers) that are subject to tax deduction at source (TDS) under the Indian Income… Read More »
ITR filing Without Aadhaar OTP ITR filing without Aadhaar OTP: As of September 2021, filing an income tax return in India without Aadhaar OTP (One-Time Password) authentication is not possible. Aadhaar OTP is one of the methods provided by the income tax department for electronic verification of ITRs. It allows taxpayers to verify their… Read More »
TDS Certificate Required TDS certificate required, TDS (Tax Deducted at Source) certificates are vital for providing conclusive proof of tax deduction at the source and play a critical role in enabling various procedures associated with income tax compliance. The following are key reasons highlighting the importance of TDS certificates: Proof of Tax Deduction: TDS certificates… Read More »
ITR with Balance sheet No, it is not mandatory to file the ITR with balance sheet in India. However, certain taxpayers such as companies, firms, and LLPs require to file a copy of their balance sheet along with their income tax return. Individuals and HUFs (Hindu Undivided Families) generally do not require to file their… Read More »
