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Tax Compliance Calendar for FY 2024-25 for Public and Private Companies November marks an important month for companies to ensure compliance with various statutory requirements. These apply equally to private and public companies under different rules and regulations. Below is an outline of the critical compliances, their legal basis, and deadlines. Rule 9A of the […]
Read MoreComplete Guide for Converting a Society into a Section 8 Company The Companies Act, 2013 in India provides an avenue for societies that aim to promote charitable objectives to register as Section 8 companies. A Section 8 company is a non-profit organization, created primarily for social or charitable purposes, such as promoting commerce, art, science, […]
Read MoreCBIC Makes Virtual Hearings Mandatory for Departmental Proceedings CBIC GST Updates: The Central Board of Indirect Taxes and Customs (CBIC) has issued revised guidelines mandating virtual hearings for all departmental proceedings under the CGST, IGST, Customs Act, Central Excise Act, and Chapter V of the Finance Act. Under these new directives, personal hearings must now […]
Read MoreNovember Tax Compliance Calendar for FY 2024-25 Considering the fact that tax compliance affects all businesses regardless of the size, it is very important for any business to stay up to date to avoid cases of penalties, ensure smooth operations and to achieve credibility. Below are the due date chart for November 2024’s tax compliance […]
Read MoreUnderstanding Input Tax Credit (ITC) on Diwali Gifts: What’s Eligible and What’s Not As Diwali approaches, businesses often celebrate by distributing gifts like sweets, cookies, clothes, firecrackers, and sometimes even bigger items like cars or bikes. However, for organizations registered under GST, the question of claiming Input Tax Credit (ITC) on these gifts often arises. […]
Read MoreAOC-4 Form Due Date, Process, Penalty and more. AOC-4 Form is mandatory for the companies registered under the companies act forms the part of the company compliance. Since this form is an annual return, every company public limited company must submit their financial statements and other documents as per the regulation of the Ministry of […]
Read MoreLLP-8 Form Due Date, Process – Avoid Penalties by Filing on Time! LLPs are required to file LLP-8 Form at the earliest, failing which leads to fines, and the deadline for filing this form is knocking at the door. The last date to file this Form is 30.10.2024 and if any person fails to submit […]
Read MoreNew CBDT Form 12BAA: A Tool to Reduce TDS from Salaries CBDT Issues Form 12BAA for Employers October 15, 2024 Update The Central Board of Direct Taxes (CBDT) has introduced CBDT Form 12BAA, which allows employees to inform their employers about other taxes they’ve paid to reduce their Tax Deducted at Source (TDS) from salaries. This […]
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CBIC Circular Issued on Retrospective Extension of Time Limits for Claiming ITC under Section 16(5) and 16(6) of the CGST Act, 2017 On October 15, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued a circular regarding the implementation of Section 16(5) and Section 16(6) of the Central Goods and Services Tax (CGST) […]
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Procedure for Change of Name of a Company on V3 Portal (MCA) Every organization carries out the process of changing their name with a lot of considerations and as such it is important for organizations to conform to the fundamental legal frameworks provided by the Ministry of Corporate Affairs Act (MCA) of India. The task […]
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