Certain types of business entities in India are required to conduct a secretarial audit and prepare their secretarial compliance report as part of the annual audit process.
We write about key documents and compliance requirements that businesses should prepare as the first GST audit in India gets underway.
From FY 2020-21, private firms with outstanding debt of INR 1 billion or more are mandated to conduct secretarial and financial audits.
Taxpayers in India who missed their deadline to file taxes are advised to file their tax returns by December 31, 2019 to avoid harsher penalties.
In India, an individual’s income is taxed at graduated rates, depending on his/her duration of stay in India and income level.
Any person in India, whose estimated tax liability is more than Rs 10,000 (US$145) in a financial year, after deducting TDS, must pay income tax in advance.
India just slashed its corporate tax rate by almost 10 percentage points as Prime Minister Narendra Modi’s government seeks to boost investor sentiment in the country.
GST registration enables goods and service providers to collect GST from their customers. In this article, we enumerate the rules and regulations for registering under GST, as well as penalties for noncompliance.