How Payroll Efficiency Shapes Small Businesses in India
That is why small business management pays particular attention to the issue of payroll management and its efficiency. So, when there are proper and efficient payroll system structures in an organization, then this facilitates the timely and correct payments to be made to the employees hence improving morale and retention. Businesses are in a position to minimize human...
What is Capital Gains Tax in India: Types, Tax Rates, Calculation, Exemptions & Tax Saving.
Capital gains tax in India is a significant aspect of the income tax system, affecting both individuals and businesses. This comprehensive guide will delve into the nuances of capital gains tax, including its types, tax rates, calculation methods, exemptions, tax-saving strategies, and planning tips. We will also use real-life examples to illustrate these concepts....
Deferred Tax Asset & Deferred Tax Liability: A Complete Guide
Deferred Tax Liabilities and Assets (AS 22):
Deferred Tax Liability (DTL): Arises when taxable income is lower than accounting income due to temporary differences. These differences will reverse in future periods, leading to higher tax payments.
Taxable Income <Accounting Income.
The above difference will reverse in tax years yet to come.
Deferred Tax Asset (DTA):...
EPFO Exemption: TDS Impact on Employee Perquisites.
Navigating the complexities of tax deduction at source (TDS) regulations can be challenging for autonomous bodies and their employees. The recent case involving an autonomous body (EPFO) highlights significant considerations for similar organizations. This blog post explores the implications of the decision, emphasizing the necessity of a cautious approach before applying...
Due Dates for the month of July 2024.
07th
TDS
Payment for June 2024.
10th
GST
Return for authorities deducting tax at source – GSTR 7 for June 2024.
Details of supplies affected through the e-commerce operator and the amount of tax collected-GSTR 8 for June 2024.
11th
GST
Details of outward supplies of taxable goods and/or services effected – GSTR 1 for June 2024.
13th
GST...
Navigating Labour Law Compliance Calendar: July 2024 Edition
Introduction: As we step into July 2024, businesses across India are gearing up to ensure compliance with various labour laws. Understanding and adhering to these regulations are vital not only to avoid legal repercussions but also to foster a healthy work environment. In this article, we’ll delve into the Labour Law Compliance Calendar for July 2024,...