Tag Archives: #IncomeTaxCompliance

Is bookkeeping mandatory for Architectural, Engineering and Surveying Services?

Bookkeeping challenge

Bookkeeping Mandatory for Architectural   Yes, bookkeeping is mandatory for Architectural, including those in the  Engineering and Surveying Services sector in India. Bookkeeping involves maintaining accurate and up-to-date financial records of all transactions, income, expenses, assets, and liabilities related to the business. It helps in proper financial management, tax compliance, and making informed business decisions.… Read More »

15CA/CB compliance?

15CA/CB definition

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 »

How to register tan with income tax site?

TAN registration process

TAN Registration Process   TAN registration process, To generate a TAN (Tax Deduction and Collection Account Number) on the Income Tax website in India, please follow these steps: Visit the Income Tax e-Filing website: Go to the official website of the Income Tax Department for e-Filing, which is https://www.incometaxindiaefiling.gov.in/. Ensure that you are using the… Read More »

HUF can take commission income?

HUF commission income

HUF commission income   HUF commission income, is a unique tax entity recognized under Indian tax laws. It is a form of joint family business structure that allows members of a Hindu family to pool their resources and manage their affairs collectively. HUFs are eligible to earn income and are subject to taxation accordingly. Commission… Read More »

Compliance of tds provision?

Difference between TDS and Form-16

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 »

Why TDS certificate required?

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 »

TDS compliance for partnership firm?

TDS Compliance for Partnership Firm

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 »