Payroll is a process central to any organization. It directly affects how an organization does business, how it treats its employees, its growth, and several other ways. Payroll may refer to not just the list of employees and their records but the task of managing them as well. Payroll processing is indeed a grueling task,…
The new year is fast approaching, and with it come afresh set of tasks and challenges. Below are some important dates to be taken note. These dates are as per Labour Law Compliance in India and are consistent across all companies. TDS is tax deducted at the source; This means that employees whoa repaid a…
TAX bills are bad enough, but worse are the penalties involved with the non-payment of the same. There may be many reasons for the penalty to be levied, but the chief reason is either failure to pay the amount or not adhering to income tax return processing and filing. It can be also due to several…
Special economic zone (SEZs) are a direct consequence of the phenomenon of foreign direct investment (FDI). In simpler terms, SEZs are geographical areas within a country that have different laws and systems than other geographic regions. These zones are designated for trade and business and the overall economic development of surrounding areas. Some of the…
Government contracts, as the name suggests, are those undertaken or signed by state or central governments. They are initiatives signed for various purposes such as construction and maintenance, manpower and staffing solutions, IT-related projects, and so on. Government contract compliance is a constantly evolving challenge While one of the parties in the contract is the…
This Blog deals with the subject matter, whether the payroll system that you are using is statutory compliant or not? It is very must for the companies to use a statutory compliant payroll system. What is Statutory Compliance in HR means? Statutory compliance in HR, refers to the legal framework within which the organizations must…
Have you ever faced a situation where your ITR was rejected? Yes, ITR can be rejected by the Income-Tax department. Let’s see how to avoid ITR Rejections. Why the tax returns get rejected? Your tax return gets rejected if your ITR doesn’t reach the CPC within 120 days of e-filing or you fail to e-verify…
Usually, GST returns comprise of two types of returns – periodic and annual returns. The periodic returns comprise of monthly and quarterly returns, and these are for transactions during the month or the quarter. The annual return is for reporting the summary of the periodic returns filed during a financial year. Annual GST return has…
ITR filing is perhaps one of the most fundamental activities in one’s life now, especially if he/she is a well-placed professional or a businessman. Let’s look at the benefits of filing returns. Saves from prosecution The most significant advantage of income tax return filing is that it helps you to avoid some severe punishment.…
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