Interest Assesses are required to pay interest and penalties if they fail to pay income tax (self-assessment tax or advance tax) on time or before the deadline. According to Sections 234A, 234B, and 234C of the Income-Tax Act, the Income Tax Department may levy late payment interest in the event that an income tax return …
IMPORT EXPORT CODE INFORMATION (IEC) The initial registration needed for commercial entities engaging with the import or export of products and services from India is the Import Export Code, more generally referred to as IEC. The Directorate General of Foreign Trade issues IEC (DGFT). It serves as a passport for commercial import and export. Benefits …
A number of modifications to CBIC’s current return have been reported in Form GSTR-3B. The form used by the government to collect tax from its citizens is called Form GSTR-3B. The CBIC has included a new table 3.1.1 in which taxpayers must disclose information on supplies made through e-commerce operators (ECO), if such ECO is …
Simply put, striking off a firm implies quickly ending a failed business. It is the simplest approach to shut down a business. Which business can be fired? – Any business, regardless of its type, can be dismissed private company, One-person operation Section 8 company for public companies – The Companies Act of 2013 oversees corporations, …
What is the Private Company Annual Compliance? An organisation with a distinct identity known as a private company must regularly file reports with the MCA in order to preserve its active status. Every corporation must submit an annual return and audited financial statements to the MCA at the end of each fiscal year. No matter …
An organisation with a distinct identity known as a private company must regularly file reports with the MCA in order to preserve its active status. Every corporation must submit an annual return and audited financial statements to the MCA at the end of each fiscal year. No matter the turnover, whether it is zero or …
One nation, one tax has become a part of the economy ever since the GST law was passed in 2017. Because regulatory requirements are lighter and doing business is made easier, the effect has been felt equally across all industries. Although modifications to the way the Input Tax Credit (ITC) is used have been made, …
