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 »
Financial analysis Vs planning Vs management Financial analysis Vs planning Vs management, Financial analyst, financial plannings, and financial management are three distinct concepts in the field of finance. It is refers to the process of evaluating the financial performance of a company or investment by analyzing its financial statements, ratios, and other financial indicators. It… 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 »
GST Compliance Checklist GST compliance checklist, Maintaining compliance with the Goods and Services Tax (GST) regulations is crucial for businesses. While the specific requirements may vary depending on the country. Here is a general GST compliance checklist GST Registration: Ensure that your business is registered for GST as per the prescribed threshold limits and… Read More »
Tax compliance Tax compliance refers to the act of adhering to the rules, regulations, and requirements set forth by tax authorities in order to fulfill one’s tax obligations. It involves accurately reporting and disclosing relevant financial information, calculating and paying the appropriate amount of taxes, and submitting the required documentation within specified deadlines. For more… Read More »
What Happens When an Invoice Is Not Approved? Invoices are essential documents in the business world, serving as formal requests for payment from vendors or service providers. However, not every invoice makes it through the approval process smoothly. So, what happens if an invoice is not approved? Understanding the potential consequences and how to address… Read More »
Statutory Compliance Statutory compliance refers to the process of ensuring that a company or an organization is following all the rules, regulations, and laws set by the government and relevant regulatory authorities. These laws and regulations can include tax laws, labor laws, environmental laws, and other applicable laws that govern business operations. Compliance is important… Read More »
