Complaince

Compliance is really about demonstrating a business following regulations and best practices according to various standards. Compliance means adhering to a rule such as policy, standard, specification or law. In business compliance is linked to corporate governance, which is a framework of rules, regulations, and practices under which a company operates.

GST:
GST has been implemented all over India with effect from 1st July 2017. Under the new GST, nearly most of the business in India obtained GST registration and required to file GST returns.

Process of Registration:
• Collection of Information
• Drafting Application
• GST allotment

TAX DEDUCTED AT SOURCE (TDS):
As per the Income tax act, any company or person making a payment is required to deduct tax at the source if payment exceeds certain threshold limits. We can file Quarterly returns.
TDS is deducted on the following types of payments:
• TDS on salaries
• TDS other than salaries like rent, commission, brokerage, Contract, Professional services.
• TDS on interest on securities
• Transfer of immovable property
• TDS on deemed divided and withdrawal of national savings scheme.

PAYROLL:
Payroll is the total of all compensation a business must pay to its employees for a set period of time. Payroll also refers to the total amount of money employer pays to employees. It also involves pay policy including flexible benefits, leave encashment policy, Variable pay, HRA, LTA.

Labour Tax:
Should re-direct to labour tax page

Company Law:
A company which has been incorporated in India under Companies act, 2013 which regulates incorporation of company. Responsibilities of a company, directors, dissolution of a company. Aspects such as how to conduct board meetings and shareholders meetings.
The preparation and presentation of annual accounts and the regular maintenance of books of accounts.

Annual Compliance:
Compliances that are necessary to be complied and submitted to the MCA portal formed and maintained for the purpose at certain times in a year annually lays down the including a newly registered company unfailingly every year.
Mandatory Annual Compliances:
• Annual General Meeting and Board Meetings
• Annual Returns and Financial Statements
• Income Tax and GST returns
• Audit Reports
• Maintenance of Registers and records
• Auditor Appointment