Salary paid to the director’s relative as a full-time employee is related party transaction? Yes, salary paid to the relative of the Director or a related party who is employed as a full-time employee is considered a related party transaction (RPT). Even if the related party is employed full-time, the transaction (salary payment) must be … Read more
10 Benefits of outsourcing accounting and bookkeeping services Here are the top reasons you should outsource your accounting and bookkeeping services. So, let’s see the top 10 Benefits of outsourcing accounting and bookkeeping services in India. As we know Accounting and bookkeeping play very crucial roles in the financial management of any business, regardless of … Read more
Checklist for documents to be obtained before starting Statutory Audit Performing a statutory audit involves a thorough examination of a company’s financial records and statements to ensure accuracy, compliance with relevant laws and regulations, accounting standards, and transparency in reporting. Documentation is a crucial aspect of the audit process, as it provides evidence of transactions, … Read more
ROC Filing Due Dates for FY 2023-24 Here’s the ROC compliance calendar for FY 2023-24. Refer to this calendar to track the ROC filing due dates applicable for the financial year 2023-24. Every company registered with the Ministry of Corporate Affairs (MCA) is required to furnish its annual accounts and annual returns as per the … Read more
Annual Compliance Checklist for Company after registration Dear reader, in this post we will discuss the annual compliance checklist for a company – Private Limited Company. We know that, after registration, every private limited company has to fulfill various compliance prescribed under various acts & statutes. A private limited company has to comply with the Companies Act, Income Tax Act, … Read more
10 Mandatory Compliance for Private Limited Company after registration In this article, We will take you through the list of mandatory compliance for a Private Limited Company. As we know that, Private Limited Company is the most suitable and democratic form of entity for carrying out business in India with a long term objective. It … Read more