No Statutory Dues Certificate: Understanding Its Importance and Implications In business transactions, a “No Statutory Dues Certificate” plays a crucial role, indicating compliance with all statutory obligations. Here’s a comprehensive guide to its significance and impact. What is a No Statutory Dues Certificate? A No Statutory Dues Certificate, often required in commercial transactions, certifies that… Read More »
No statutory dues certificate Understanding the Significance A ‘No Statutory Dues Certificate’ issued by a Chartered Accountant serves as a declaration that the company has met all its statutory obligations concerning taxes, duties, and other dues within the stipulated timelines. This certificate is not merely a formality but a rigorous assessment of financial records… Read More »
15CA and 15CB certificate The 15CA and 15CB certificate are documents required 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 each certificate: Form 15CA: This form is a declaration of remittance under Section 195(6) of the Income Tax… 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 »
Compliance checklist Certainly! Here’s a checklist to help you ensure compliance with TDS (Tax Deducted at Source) requirements: TAN Registration: Obtain a valid TAN (Tax Deduction and Collection Account Number) from the tax authorities if required. TDS Deduction: Determine the transactions on which TDS is applicable based on the relevant provisions of the tax laws.… 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 »
Tax Deducted at Source Compliance Tax Deducted at Source Compliance, TDS compliance refers to adhering to the provisions of Tax Deducted at Source (TDS) as per the tax laws of a country. TDS is a mechanism through which tax is deduct at the source of certain payments, such as salaries, interest, rent, professional fees, etc.… Read More »