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What is Tax Audit in Income Tax
A tax audit is a vital compliance measure under the Income Tax Act, 1961. It ensures the accuracy of financial records and verifies that taxpayers comply with the prescribed laws and regulations....
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What is the Form ADT 1?
Every company registered under the Registrar of Companies (RoC) is required to appoint an auditor. The appointed auditor must be a Chartered Accountant, qualified under “The Institute of Chartered Accountants of India...
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What is ROC in Company Registration
The Registrar of Companies (ROC) plays a vital role in the business ecosystem by ensuring that companies operate within the legal framework. Understanding the ROC's function in company registration is crucial for...
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How to Optimise Tax Returns for Your Business
Optimising tax returns is one of the best decisions a business owner can make. Although saving money is undoubtedly beneficial, it's equally important to make sure your company is set...
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The Ultimate Checklist for GST Compliance
Overview The Goods and Services Tax (GST), introduced in July 2017, revolutionized India's tax system by consolidating multiple indirect taxes into a single, unified framework. Its primary objectives are to...
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Step-By-Step Guide to the GST Registration Process
The Goods and Services Tax (GST) is an indirect tax that has streamlined India's taxation system, replacing multiple levies with a unified structure. For businesses, registering for GST is a...
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What is MGT-7 Filed For?
Introduction MGT-7 and MGT-7A are crucial annual return forms that every company incorporated under the Companies Act, 2013, must file to maintain compliance with Indian corporate law. These forms capture key information...
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House Rent Allowance and Its Tax Implications- Everything You Need to Know
An allowance refers to a fixed sum of money provided by an employer to an employee to cover specific expenses. Typically, this amount is given to the employee to manage...
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Clarification on Corporate Guarantee Services: Recent GST Circular Insights
Introduction On July 11, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 225/19/2024-GST, addressing various issues concerning the taxability and valuation of corporate guarantees under...