Tax Compliance for Mall Owners Tax Compliance for Mall Owners to avoid tax compliance and audit issues in India: 1. Tax Registration And Filing: Tax Compliance for Mall Owners in India must ensure timely and accurate registration under the Goods and Services Tax (GST) regime. They should regularly file GST returns, including GSTR-1 (outward supplies)… Read More »
Book Keeping for Wholesaler There are no limits for starting book keeping for a wholesaler. However, it is important to consider the following factors before making a decision: 1. The size of the wholesale business: The larger the business, the more complex the bookkeeping will be. 2. The number of transactions: The more transactions… Read More »
Tax Audit penalties for wholesaler Yes, there can Tax Audit penalties for wholesaler in India. According to the Income Tax Act of India, businesses that meet certain financial thresholds required to have their accounts audited by a chartered accountant and submit a tax audit report along with their income tax return. This requirement is… Read More »
Legal Requirement of Statutory audit Legal Requirement of Statutory audit for certain types of businesses in India. The Companies Act, 2013, which governs companies in India, specifies the criteria for businesses that are required to undergo a statutory audit. The following are the criteria for statutory audit for doctors in India: If the doctor’s… Read More »
Penalties for Not Filing Tax Audit Yes, there are penalties for not filing a tax audit report for doctors in India. The penalty depends on the amount of tax that is due and the reason for the non-filing. The penalty for not filing a tax audit report is: 0.5% of the total turnover or… Read More »
Turnover Certificate from GST Portal Introduction A Turnover Certificate is an essential document that provides details about a business’s total turnover over a specific period. Businesses registered under the Goods and Services Tax (GST) in India often require this certificate for compliance, loan applications, or tax assessments. This article provides a step-by-step guide on… Read More »
Form 15CA Form 15CA is a declaration form require by the Indian government for certain types of international transactions involving the transfer of money to non-resident individuals or entities. Here’s an explanation of Form 15CA: 1. Purpose: This is used to provide information about the remittance being made to a non-resident or foreign entity. It… Read More »
Add Form 15CA and 15CB To add Form 15CA details for Form 15CB, you can follow these steps: 1. Obtain Form 15CB: First, ensure that you have the completed Form 15CB. This form is issue by a Chartered Accountant (CA) and certifies that the remittance is in compliance with the provisions of the Income… Read More »
User Intent Users searching for Form 15CB are likely looking for an in-depth understanding of its purpose, application, and benefits. They might be tax payers, accountants, or business owners dealing with foreign remittances who need to know when and how to use this form. This article provides a step-by-step explanation to help them… Read More »
User Intent Users searching for differences between Form 15CA and 15CB are likely individuals or businesses dealing with international transactions, remittances, or tax compliance in India. They want clarity on when to use each form, their applications, benefits, and limitations. Introduction When making payments to a non-resident outside India, compliance with income tax regulations… Read More »
