Tag Archives: #TaxationSystemIndia

why gst registration is important?

  GST Registration Importance   GST (Goods and Services Tax) registration is importance for several reasons: Legal Compliance: GST registration is a legal requirement for businesses that meet the turnover threshold specified by the government. Failing to comply with the GST registration requirements can lead to fines and legal ramifications. Legitimate Business Operations: GST registration… Read More »

15CA/CB compliance?

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 »

What is the requirements of GST Compliance?

  GST Compliance Requirements What are the Requirements of GST Compliance? Introduction The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in many countries, including India. It was introduced to create a unified tax system, eliminating multiple indirect taxes. However, businesses must adhere to various GST… Read More »

Can I use a single GST number for selling products and services?

Can I Use a Single GST Number for Selling Products and Services   In India, the Goods and Services Tax (GST) is a comprehensive tax system that has streamlined the taxation process for businesses. A common question among entrepreneurs and small business owners is whether they can use a single GST number for selling both… Read More »

TDS compliance in tax audit report?

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 »

TDS compliance portal in India?

  TDS Compliance     Here are some key features and services offered by the TDS compliance portal in India: 1.TDS Statement Filing: Taxpayers can file their TDS statements, including Form 24Q, 26Q, 27Q, and 27EQ, electronically through the TRACES portal. These statements contain details of tax deducted and deposited by the deductor. 2.TAN Registration:… Read More »

How to do GST compliance for private limited company?

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 »

What is Section 194Q of Income Tax Act?

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 »

What are the taxes that you pay on dividends and how do they work in India?

What are the taxes that you pay on dividends and how do they work in India? Introduction Dividends are a common source of passive income for investors. However, like any other income, they are subject to taxation. In India, the taxation of dividends has evolved over the years, with significant changes introduced in recent budgets.… Read More »