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Annual Compliance means a specific set of Compliance that a company has to fulfill post-incorporation to commence and continue its operations. Under the Companies Act 2013, various compliances must be completed every Year. Failure to comply with such Compliance may result in the Company’s strike-off and its directors’ disqualification. As part of annual Compliance, various returns … Read more
In December 2023, the Income Tax department tweaked ITR forms 1 and 4 notified for Assessment Year 2024-25. The Central Board of Direct Taxes (CBDT) has introduced many additional reporting requirements and modifications due to the Finance Act 2023 amendments. ITR filing AY 2024-25: The Income Tax department time to time introduces changes in tax … Read more
Step 1 – Creation of the invoice on the taxpayer’s ERP The taxpayer will continue to generate invoices in the normal course of business. However, the reporting of these invoices electronically has criteria. It needs to be done as per the e-invoice schema along with mandatory parameters. This is a one-time step for those who want to … Read more
Starting a new business venture can be a daunting task, and there are many important decisions to be made along the way. One of the most crucial decisions you will make is whether or not to register your company. incorporate your company is an essential step for any business, regardless of size or industry. Legal … Read more
The Central Board of Direct Taxes (CBDT) launched a new income tax e-filing mechanism on June 7, 2021. The new portal ‘www.incometax.gov.in‘ follows the previous e-filing portal ‘www.incometaxindiaefiling’.gov.in‘. Taxpayers now have to file their Income Tax Return (ITR) and all other tax-related transactions through the new process. For the convenience of taxpayers, the process is … Read more
Document Required For ITR Filing If you want to start filing your ITR from this season, then collect this required document. Well, the required document varies as per the sources of income, claim deduction and other financial transactions. Some of the general list of documents are as follows- How To File ITR Online? Filing Income … Read more
For many companies, the decision to merge an LLC with a corporation marks a big turning point. This changeover often raises strategic, legal and operational issues. This guide will help you know how to do it and why do you convert your LLC into a corporation to get the benefits and make the process of … Read more
Filing your Income Tax Return (ITR) is a crucial financial responsibility for every taxpayer. Whether you prefer handling the process yourself through an income tax e-filing website or seeking professional assistance from an income tax consultant near me, timely income tax return filing offers numerous benefits. Here, we explore why meeting the ITR deadlines is … Read more
There is a TON of information out there and plenty of authors pushing out great content. Here is a list of 10 great accounting blogs that are worth reading. https://www.accountingtoday.com https://goingconcern.com https://www.cpapracticeadvisor.com https://www.intuitiveaccountant.com https://www.blakeoliver.com https://www.accountingweb.com https://taxsalah.com/blog https://www.mineraltree.com/blog https://angryaccountants.blogspot.com https://marksaccjokes.blogspot.com
On July 1, 2017, the Indian government rolled out Goods and Service Tax (GST) to simplify the country’s tax structure. The basic philosophy behind putting it was one nation, one tax, and one market. GST has largely subsumed several federal and state-levied taxes, including excise, VAT, and service tax. Businesses must get registered for GST … Read more