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What is External Audit & When is it Applicable in India?
What is External Audit? External Audit is defined as the audit of the financial records of the company in which independent auditors perform the task of examining validity of financial records of the company carefully in order to find out if there is ...
Comparison Between Internal vs External Audits
The words “internal audit” often conjure a sense of fear, frustration, and time consumption. Even in the best circumstances, most would find having someone review their activities unsettling or intimidating. Having an understanding of the role of an ...
What is Tax Audit? Applicability and Penalty for Non-filing
What is tax audit? There are various kinds of audit being conducted under different laws such as company audit/statutory audit conducted under company law provisions, cost audit, stock audit etc. Similarly, income tax law also mandates an audit ...
What is Statutory Audit & for whom is it Applicable?
Statutory Audit Meaning Statutory audit, also known as financial audit, is one of the main types of audit which is to be done as per the statutes applicable to the entity and its primary purpose is to gather all relevant information so that the ...
How To Check UAN Passbook Status And PF Balance?
Employees’ Provident Fund (EPF) is one of the most popular investment schemes for salaried individuals in India. With the advent of technology, you can now easily check your account balance online from the Employees’ Provident Fund Organization ...
How to apply for Shop and Establishment Registration in India?
Shop and Establishment Registration The Shop and Establishment Act in India was implemented to govern the rights and working conditions of workers that are employed in the unorganized sector. The act requires all commercial establishments like ...
How to Apply TAN Number Online?
TAN Card Tax Deduction and Collection Account Number better known as TAN is a 10-digit alphanumeric number. The number is required to be obtained by all persons who are responsible for deducting or collecting the tax. The alphanumeric number is ...
How Family Businesses Can Survive the Economic Impact of COVID-19?
Leaders of family businesses are being forced to make agile business decisions to help protect employees and keep the company afloat. As the scope of COVID-19 continues to unfold, anxiety for families and individuals, as well as businesses, remains ...
Angel Investor and Raising Funds from Angel Investors
Angel Investors Angel investor makes capital available for startup business in exchange of transformable debt or equity ownership. They provide support to startup at very initial phase where risks of failing the startup are comparatively high and at ...
What is Women Entrepreneurship Platform?
Introduction This scheme is the initiative of NITI Aayog to realize women to start a new venture. This scheme is focusing on at building an ecosystem for women across India to realize their entrepreneurial aspirations (i.e. desire to start a new ...
How to Apply PAN Card for company?
PAN Card for Company A Permanent Account Number known as PAN is a vital document for any taxpayer. It is a unique 10-character string of letters and digits. PAN card requirements are detailed in the Income Tax Act of 1961. A PAN card is a mandatory ...
What is Human Resource Management (HRM)?
1. What is an HRMS? An HRMS (Human Resource Management System) is a type of HR software that enables the management of several HR functions through the use of information technology. An HRMS typically covers every element of an HRIS and include the ...
How can Payroll Management help in Business?
The term “Payroll” actually refers to the list of employees that receive compensation from a company. However, most companies generally use the term to refer to the money that is paid to the employees or the records that detail how much each employee ...
What is Employees’ Provident Fund?
Employees’ Provident Fund or EPF is a popular savings scheme that has been introduced by the EPFO under the supervision of the Government of India. The savings scheme is directed towards the salaried-class to facilitate their habit of saving money to ...
What is Employee State Insurance Corporation?
Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, ...
How to apply Digital Signature Certificate (DSC)
What is Digital Signature Certificate (DSC)? Digital signature certificate is a secure digital key that certifies the identity of the holder, issued by a Certifying Authority (CA). The main function of this certificate is to authenticate the details ...
MSME Registration: Advantages and Registration Process
What is the Registration of MSME? Any company that comes under the category of MSME needs to ensure they are registered under the MSME category. MSME registration stands for the Micro Small and Medium Enterprises registration. MSME Act has been ...
ICICI Netbanking – Register, Login, Reset Password, Transfer Limits
ICICI bank is one of the leading private sector banks in India with consolidated total assets standing at Rs.12.5 trillion as of 30 June 2019. It offers a wide range of financial products services to retail as well as corporate customers through a ...
Punjab National Bank Internet Banking – How to Register & Transfer Funds Online
Punjab National Bank (PNB), India’s first domestic bank, was established in 1895. The bank has been updating itself with the latest trends since its inception. That is how the bank has read the minds of its customers and offered internet banking ...
What is the procedure for Section 8 Company registration in India?
Section 8 Company Registration Procedure One can surely opt for section 8 company registration online. However, we suggest you to hire a professional for the registration procedure because it’s quite lengthy and cumbersome. Although we have described ...
What are the features of Section 8 Company in India?
What documents are required for Section 8 Company Registration?
Documents required for Section-8 Company registration. ID Proof in form of Scanned copy of PAN Card and Aadhar Card (Self attested) of Directors Scanned copy of Voter’s ID/Passport/Driver’s License (Self attested) of Directors Address proof of ...
What are the benefits available to the Charitable Trusts and NGO ?
Charitable Trusts and NGO – Income tax benefits Did you know charitable deeds and compassion can help you save tax? Section 80G of the Indian Income tax Act provides provisions for that. As per 80G, you can deduct your donations to Central and State ...
How to apply for a driving license online ?
Although the services of cabs and coverage of public transport have improved significantly over the last few years, there are still many reasons to own a car. Apart from offering you the flexibility of going anywhere at any time, having your car ...
What is TAXAJ & What do they Do ?
As a prominent chartered accountant firm of Delhi NCR and for our service towards our customers its in fact a lifestyle in Helping entrepreneurs build businesses & simplifying taxation. We are very proud to be associated with a noble profession where ...
How can I become eligible to get benefits under the Startup India Initiative?
Only the below stated entities qualify as a “Startup” for the purpose of Government schemes Private Limited Company Registered Partnership Firm Limited Liability Partnership Further conditions are: Not more than 5 years have passed from the date of ...
How to register on Traces as a deductor ?
Steps for Registration on TRACES by Deductor Go to the TRACES website Click on ‘Register as New User’ Select ‘Deductor’ as type of User. Provide applicable details to register on TRACES as deductor as follows: Fill out details on each step and click ...
Steps for TDS Payment Online to Government
Procedure for making online TDS Payment To make online TDS Payment, logon to the e-Tax Payment System and follow the steps below: Select the relevant challan online, as applicable Income Tax Challan No ITNS 281 Choose “0020” if you are deducting TDS ...
What are the due dates to pay TDS and return filing ?
What are the due dates of TDS payment and Return filing? TDS Calendar Month of Deduction Quarter ending Due date for TDS Payment through Challan Due Date for filing of Return FROM the financial year 2016-17 for All Deductors For Govt. Deductor For ...
Section 206AA - TDS at a higher rate (Applicability and Withdrawal)
This article will explain the grounds where TDS is deducted at a higher rate as per section 206AA and not at the rate as prescribed by Income Tax Act. However, there are few exceptions where withdrawal of this section applies. Let us study the same. ...
What are the duties and responsibilities of Deductor ?
Duties and Responsibilities of Deductor Following are some points that needs to be taken care of when you are a tax deductor: Tds Deductor is required to deduct tax at correct rate and deposit it in Government Account Every person is responsible for ...
What is composition scheme and when should a business opt for it?
Small businesses having an annual turnover Rs. 1.5 crore** ( Rs. 75 Lac for NE States) can opt for Composition scheme. Composition dealers will pay nominal tax rates based on the type of business: 1. Composition dealers are required to file only one ...
Who is Responsible for TDS Deduction?
1. What is TAN? Is it compulsory to have for TDS deduction ? Persons liable to apply for TAN TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for ...
TDS Rate Chart For Financial Year 2020-21
Are you puzzled in remembering the payments eligible for TDS deduction? Here is a chart for your better understanding with limits and rates. Section Particulars TDS Rate Individual/ HUF (Indian Resident)(in %) TDS Rate for (NRI) in India (in %) ...
What is Tax Deducted at Source or TDS, Applicability and Rates ?
TDS or Tax Deducted at Source is income tax reduced from the money paid at making specified payments such as rent, commission, professional fees, salary, interest etc., by the persons making such payments. Usually, the person receiving Income is ...