# compliance
12 posts in `compliance` tag
Getting to Know India's Advance Tax System
This blog covers the fundamentals, advantages, and deadlines of India's advance tax system in great depth. It also provides advice on how to maintain tax law compliance and describes the repercussions of failing to pay advance tax. This tutorial will assist both individuals and businesses in comprehending and navigating India's complex tax structure.
-
By Krishna
Section 194R of the Income Tax Act: A Complete Guide
The Income Tax Act's Section 194R, which addresses the tax deduction at source (TDS) on payments made to resident contractors or professionals, is covered in detail in this blog. It goes over the main points of the section, such as the tax rate, exemptions, threshold amount, and penalties for not complying. The blog also gives advice on how to ensure compliance and offers insights into the real-world applications of Section 194R.
-
By Krishna
.jpg)
Tax Audit for Transfer Pricing: A Guide for FY 2023-24
This blog article offers a thorough overview of tax audit for transfer pricing in India. It addresses the fundamentals of transfer pricing, who must file a tax audit report, important report components, and ways to guarantee regulatory compliance. This post is a must-read for organizations with foreign transactions or specific local transactions as the deadline of October 31, 2024, draws near.
-
By Krishna
.jpg)
A Comprehensive Guide to Annual Financial Reporting for Indian Companies: An Understanding of AOC-4
All firms registered in India under the firms Act of 2013 are required to file the AOC-4 form. This blog offers a thorough explanation of AOC-4, including what it means, how important it is to maintain legal compliance and openness, what papers are needed, and how to file a complaint step-by-step. It is essential to comprehend and follow these guidelines in order to preserve investor confidence and stay out of trouble. Whether you work in accounting or operate a business, this article will make it easier for you to understand the intricacies of AOC-4 filing.
-
By Krishna
New TDS Rates for FY 2024-25 and AY 2025-26: A Simplified Explanation
With effect from October 1, 2024, the updated TDS rates for FY 2024–25 and AY 2025–26 have been released. This blog discusses the effects on people and businesses and offers a comprehensive graphic of the updated TDS rates. To guarantee compliance with tax laws and to capitalize on the advantages provided by the new rates, it is imperative that individuals and corporations comprehend the revised TDS rates and their ramifications.
-
By Krishna
.jpg)
New Rule for Filing GSTR-1: What Taxpayers Need to Know from September 2024
A new GSTR-1 filing rule was introduced by the Indian government and will take effect in September 2024. Taxpayers will receive guidance on the modifications and necessary actions to comply with the new regulation from this blog post.
-
By Krishna
.jpg)
September 2024 important Income Tax Deadlines: Continue to Comply and Avoid Penalties
For taxpayers and tax experts, September 2024 is a crucial month because it has multiple important income tax deadlines. This blog offers a thorough summary of all important deadlines, ranging from TDS/TCS deposit and certificate issuing to advance tax payment and filing tax audit reports. This handbook guarantees that you remain compliant and keep out of trouble with a convenient chart for easy reference. It is essential for efficient tax management, regardless of whether you are an individual taxpayer or a business owner, to comprehend these deadlines.
-
By Krishna
A Complete Guide to the Amendments to the Income Tax Act of 1961 to the Finance Act of 2024
An extensive overview of the changes made to the Income Tax Act of 1961 by the Finance Act of 2024 may be found in this blog article. It discusses the main adjustments, their effects on taxpayers, and the new tax system, tax rates, deductions, and exemptions.
-
By Krishna
Compliance with Section 206C(1H): A Must for Specified Persons
The Income Tax Act's Section 206C(1H) requires tax deduction at source, or TDS, on specific income kinds that are credited or paid to non-residents. Certain entities, including corporations, co-ops, and government agencies, must deduct TDS from certain types of revenue, including interest, rent, royalties, and technical service fees. TDS is normally present at a rate of 20%, though specific circumstances may cause this to change. Interest and penalties may be incurred for breaking Section 206C(1H) regulations.
-
By Krishna
Understanding GSTR 11: An All-Inclusive Manual for Compliance and Filing
This blog offers a thorough explanation of GSTR 11 and covers its regulations, qualifying requirements, return filing procedure, and non-compliance penalties. For embassies, UN agencies, and other notified parties who must file GSTR 11 and adhere to Indian GST legislation, it is an extensive resource.
-
By Krishna
GSTR-3B Revisions and Input Tax Credit (ITC) Reporting
Input Tax Credit (ITC) reporting is now subject to additional limitations as a result of the most recent GSTR-3B modifications. An extensive examination of the modifications, ramifications, and recommended strategies for compliance can be found in this blog article. To reduce the possibility of receiving notices and fines, become familiar with the updated GSTR-3B format and make sure that ITC reporting is accurate.
-
By Krishna
Complying with Rule 10A: Providing Bank Account Details for GSTR-1/IFF
This blog provides a comprehensive guide to furnishing bank account details for GSTR-1/IFF as per Rule 10A of the CGST Rules, 2017. It covers the importance of furnishing bank account details, the step-by-step process to comply with this requirement, and the consequences of non-compliance.
-
By Krishna