There are a number of changes in GST compliance that India will be set to face once it reaches 2025, and the areas of focus include security, process simplification, and total compliance by businesses. Understanding these changes would prove very important for businesses, thereby enabling them to adjust themselves effectively and maintain GST Compliance with … Read more
Recently, updates have been coming in related to GST on Popcorn and Used Cars in India which has generated a lot of debate and clarification regarding tax rates applicable to these day-to-day items. So this post is going to cover the details of Goods and Services Tax (GST) as it applies to popcorn sold in … Read more
A very common term in the business universe, ‘Company’ and ‘Body Corporate‘ hold the ground by means of distinct definitions and practical use under corporate law. Since many entrepreneurs, legal professionals, and practicing professionals dealing with matters relating to Trademark, ITR Filing, GST, and Company Registration make a mistake between Company and Body Corporate, this … Read more
Employee welfare and social security are some of the significant aspects of running a business in India. To meet this objective, the Government of India has initiated two specific schemes. First, Employees’ State Insurance, and second, the Provident Fund. These plans provide the employees with medical and financial security benefits.The ESI scheme offers medical benefits, … Read more
The deadline for individuals required to submit an income tax audit report to file their income tax return (ITR) is October 31, 2024. It is important to note that the Central Board of Direct Taxes (CBDT) has not extended the deadline for those needing an audit to submit their ITR yet. The deadline for filing … Read more
The word ‘audit‘ implies that it is a formal examination of an organisation’s financial records and the creation of a report, usually by a third party. Numerous types of audits are carried out in accordance with different laws, including stock audits, cost audits, and company audits or statutory audits performed under company law provisions. Similar … Read more
It is becoming increasingly apparent that regular auditing is important to a business. Not only is regular auditing important to a business, but ethical and transparent auditing is the foundation upon which a business builds trust on all levels. What Is Tax Audit? A tax audit is an integral part of examining a person’s income. … Read more