Latest Goods and Service Tax (GST) updates by the Government for Companies and Taxpayers
The Goods and Service Tax (GST) was first introduced in India on July 01, 2007. Ever since, there have been several amendments and updates to improve the process of GST application on goods and services. The government is also bringing about many changes to the GST portal so that taxpayers can use the online GST […]
Understanding the taxability of benefits or perquisites under Section 194R
A new section 194R- TDS on benefits or perquisites provided has been introduced in the Finance Act, 2022. Section 194R is applicable with effect from July 01, 2022. Some important things about Section 194R Its Aim: Earlier companies/ perquisite providers would provide perquisites and/or benefits in either cash or kind to their distributors, channel partners, […]
August 2022 Tax Compliance Tracker: How to Stay on Top of Your Taxes
Every taxpayer in India needs to fulfill their statutory obligations as per the due dates set by various authorities. It is important for individuals and various business entities to have a tax compliance tracker, which ensures that they do not miss any deadline. Entities have to comply with many tax-related compliances, like submitting various GSTR, […]
Things You Should Know About How to Protect Yourself From Fraud
Say Goodbye to FRAUD and THEFT! When it comes to business/finance, we all want to feel safe and secure. Theft and fraud are serious issues that we should all be aware of. So, if you want to learn more about fraud and security scams, keep reading! Nowadays, dealing with money scams and online […]
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 to use your Financial Reports to make Better Strategic Decisions to Grow your Business?
Businesses need financial data and information to understand the present state of operations and to predict future opportunities. Financial reports help owners and management to focus on important aspects of financial data. More so, financial reports help the organization stay focused on its business operations. And ensure their goals and objectives are being achieved as […]
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 […]
Accounting Automation: What People Expect Vs. Reality Let Us List Them Out For You
Businesses have always used machines to make their work easy. Though the use of automated machines initially began with manufacturing activities, their use in accounting has been booming. Automation enables companies to process a large volume of data and reduce manual processing at cheaper costs. Automated accounting is beneficial to the firm in the following […]
Financial Controller VS CFO: Know Which Does Your Business Need To Grow ?
The terms financial controller or CFO, though used interchangeably, have some differences. This is especially true for small companies who are low on budget to hire a financial controller and a CFO. There are many factors that have to be considered while deciding who the business needs; A Controller? A CFO? Or both? Who is […]
Enterprise Risk Management (ERM) – How to get started
Risk is the uncertainty of an event happening in the future. This uncertainty deviates an organization from achieving desired outcomes and hence it has to be managed. Enterprise Risk Management (ERM) involves various strategies that identify potential business risks and analyze them to provide appropriate responses to mitigate and minimize any losses that would have […]