Different Types of Audit Under GST The Goods and Services Tax (GST) regime in India has transformed how businesses function, bringing transparency, efficiency, and consistency to the tax system. The audit process is an important component of GST compliance since it guarantees that firms follow the government’s laws and regulations. Businesses may face many types […]
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Understanding Payroll Compliance: How to Avoid Fines Payroll compliance is an important part of business since it guarantees that organizations follow labor laws, tax rules, and employee compensation standards. Failure to conform might result in legal consequences, restrictions, and reputational harm. If payroll tax compliance is ignored, businesses can face costly penalties and legal trouble.
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The Role of Section 145 of Income Tax Act 1961 Ever questioned how businesses and professionals are required to keep their books of account for tax purposes? The Income Tax Act of India provides a structured method under Section 145 of the Income Tax Act 1961 to ensure transparency and consistency in accounting methods. In this article, we’ll look at Section 145 of the Income Tax Act, its sections, and how
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Income Tax Audit under Section 44AB: Criteria, Processes, & Due Dates If you’re a business owner or a professional in India, you’ve possibly come across the term Section 44 AB of the Income Tax Act. It might seem difficult, but understanding this section is important for keeping your tax legal. In simple terms, Section 44
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Understanding GST Audit and Its Importance The Goods and Services Tax (GST) system plays a crucial role in ensuring a seamless tax structure for businesses across India. One of the key elements of this system is the GST audit, which helps verify the correctness of a business’s tax records. Under Section 65 of the CGST
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