We present a compliance calendar for the due dates in the month of April 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
Continue readingAs the financial year 2023-2024 is coming to an end, there are certain statutory requirements which need to be addressed within 31.03.2024. Among them the following points which should be focused on priority basis: 1. Stock verification 2. Income tax related compliance 3. Tax deducted at source 4. Company law related compliance 5. Micro, Small and Medium Enterprises (MSME) related compliance 6. GST Compliances 7. Others Please find attached the detailed note in this regard....
Continue readingThe Finance Act of 2023 inserted a new clause (h) in income tax section 43B that allows deductions made to MSMEs on an actual payment ground rather than the accrual basis if the payment is made within the time limit. A brief note is prepared on this new clause. ...
Continue readingWe are pleased to present our monthly newsletter for the month of March 2024...
Continue readingOn 10th January 2024, the Government of Karnataka published the Karnataka Compulsory Gratuity Insurance Rules, 2024 (‘New Gratuity Insurance Rules’) to prescribe the requirement for employers to obtain a valid insurance policy for the employer’s liability towards payment of gratuity to eligible employees as per the Payment of Gratuity Act 1972 (‘Gratuity Act’). As per the New Gratuity Insurance Rules, every employer must obtain insurance from LIC or any other prescribed insurer for payment of Gratuity liability to the employees. The Existing employers are required to comply with this requirement within 60 days from the effective date of these rules (i.e.,...
Continue readingThis is to bring to your kind attention that the due date for payment of fourth and final instalment of advance tax (100%) for the Financial Year 2023-24 (Assessment Year 2024-25) is 15.03.2024. Kindly take necessary actions to make the payment within the due date. For taxpayers opting for Presumptive Taxation Scheme under section 44AD & 44ADA, 100% advance tax need to be paid on or before 31st March 2024. Kindly let us know for any help or clarifications in this regard....
Continue readingWe present a compliance calendar for the due dates in the month of March 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
Continue readingWe present a compliance calendar for the due dates in the month of February 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
Continue readingPOSH Act and requirement of filing Annual report for 2023 by 31st January, 2024 The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act was passed in 2013, laying down the procedures for a complaint and inquiry, and the action to be taken. Following is a gist of information with respect to compliance under POSH Act (Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Rules, 2013). 1. POSH Act is applicable on every Company, workspace, establishment or organisation employing 10 or more employees whether full time, part time, interns or on contract, irrespective of its nature of industry of...
Continue readingWe present a compliance calendar for the due dates in the month of January 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
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