Analyze a company in less than 5 minutes via using Ratio
How to do a company analysis in less five minutes: Examine the following ratios: 💡Efficiency Ratios • Inventory Turnover: Cost of Goods Sold ÷ Inventory Measures how many times a company’s inventory is sold and replaced over a period. • Asset Turnover: Sales ÷ Total Assets Measures a firm’s efficiency at using its assets in …
Late fees under Goods and Services tax law for GSTR-9
How to calculate the late fees under Goods and Services tax law for GSTR-9 To calculate the late fees under Goods and Services tax law for GSTR-9 for the FY 2022-2023, To ensure accurate calculations and compliance with the latest regulations, it’s crucial for taxpayers to stay updated with the notifications and guidelines issued by …
Compliance Checklist at yearend Closing at 31st March, 2024
Compliance Checklist to be done at yearend Closing at 31st March, 2024 The company must ensure that the appropriate TDS, GST, ESI and PF has been taken and paid. Checking Closing Stocks as of March 31, 2024: The amount and item-by-item value of closing stocks as of March 31, 2024, are required in tax audit …
Action take by regulators on using offshore crypto platforms
What Possible action can be take by Indian regulators on using offshore platforms? It is needed to understand the implications of specific notices issued by the FIU or other regulatory bodies, it’s essential to closely monitor developments in the regulatory environment and consult with legal experts or industry professionals familiar with Indian cryptocurrency regulations. It’s …
TRC is the valid document for determining treaty advantages
Tax Residency Certificate is the valid document for determining treaty advantages. ITAT- Delhi – M/s Sarva Capital LLC (ITA No. 2073/Del/2023): Tax Residency Certificate is the valid document for determining treaty advantages. Facts of the Case: M/s Sarva Capital LLC, a non-resident corporate entity that was established in accordance with Mauritiusan legislation and is involved …
CBDT Notifies ITR Forms 1-6 for AY 2024-25 in advance
CBDT Notifies ITR Forms 1-6 for AY 2024-25 in advance, to facilitate taxpayers & improve ease of filing CBDT Notified income tax return forms 1-6 for AY 2024-2025 well in advance is a significant step towards facilitating taxpayers and enhancing the ease of filing. Providing taxpayers with timely access to these forms enables them to …
List of ROC Form under the Companies Act 2013
List of ROC Form under the Companies Act 2013 Ministry Of Corporate Affairs – Registrar of Companies. Registrar of Companies sending notices to Auditors who have signed and uploaded tally printout as financial statements with annual ROC filing forms. Notices also sent to Auditors who have not attached Notes to Accounts and statement of accounting policies. …
Overview on Disallowance of Expenditure u/s 43B(h)
Overview on Disallowance of Expenditure u/s 43B(h) The Union Budget 2023 introduced measures to encourage timely payments to micro or small enterprises by including them in Section 43B of the Income Tax Act, 1961. The Finance Act, 2023, with effect from 1st April 2024, added new clause (h) to section 43B of the Income Tax …
Amendments in ITR Form 6 applicable to companies
Amendments in Income Tax Return Form 6 applicable to companies: New ITR forms For the AY 2024–2025, I-T return forms 2, 3, and 5 are now available for filing tax returns for the AY 2024–25, according to a recent announcement from the Income Tax Department. Prior notifications were sent out in December 2023 for the …