Know the Importance of Bookkeeping for Small Business-A Detailed Guide
Bookkeeping is an understated yet crucial part of accounting and financial management. The role of bookkeeping is to record the financial transactions of a business. It is the stepping stone to making informed decisions regarding the sustainability and scalability of a business. That is why the former CEO and founder of Visa, Dee Ward Hock, […]
Changes from 01 April 2022 due to change in tax laws: All you need to know
Come April 1st, 2022 and with it, a new financial year, 2022-2023, brings several changes in tax laws. The Union Budget 2022-2023 has brought about several amendments to the Income Tax Act that would be effective from April 1st, 2022. The government has announced several proposals that are bound to bring about a substantial change […]
How does having a VCFO improve (add value to) your business?
John C. Maxwell once said, “A leader is one who knows the way, goes the way, and shows the way”. What a leader is for a team, the CFO is for an organization. The CFO is the head of financial operations and is in charge of all the financial activities. Being in charge of the […]
Tax Tips for 2022 Tax Season: Make Your Tax Process Effortless
According to Albert Einstein, one of the brightest minds ever seen, the hardest thing in the world to understand is the taxes. And it is rightly so. With the changes and additions in the tax laws year after year, it becomes a challenge to the unversed to tackle taxation. The pandemic has further complicated the […]
Union Budget 2022-23: Powerful Update on Startups
The Indian government, in its union budget for 2022-2023, has laid a roadmap to bring stability and technological development to the Indian industry. So that domestic companies may have a competitive advantage to compete globally. The budget has provided incentives to startups so that they grow, flourish and create sustainable business development that benefits the […]
How GST And ROC Changes Will Affect You: A Simple Guide
The fear of a new variant of Covid-19- Omicron, and the rising cases of infections and deaths, has affected the Indian economy to a great extent. The government is always trying to ease and provide relief to its citizens. One way of providing this relief is by extending the deadlines for filing various compliances like […]
GST exemptions on duty free shops: What businesses need to know
Duty-Free Shops are glamorous retail stores that are at the departure area of international airports selling goods produced locally and do not attract duties and levies. These outlets are a big hit with international passengers as the products are available at a cheaper price and great offers; especially items like bags, watches, perfumes, confectionery, alcohol, […]
Accounting Services for Manufacturing Firms and its Benefits
Financial services outsourcing has proven to be a boon to many businesses. The manufacturing sector has realized the benefits of outsourcing accounting services to a greater extent in recent times. The concerns of accounting for the manufacturing firms are unique. It ranges from the calculation of procurement costs of the resources, transportation costs, labor costs […]
Key Income Tax Changes effective from FY 2021
Every company following the financial year for its operations needs to be constantly updated with the latest income tax changes applicable for the said financial year and adhere to the new provisions. The Finance Act, 2021 was introduced on 28th March 2021 with amendments and provisions to the Income Tax Act of 1961 based on […]