What is XBRL?

It is a language for e-communication of financial and business information for reporting the business. The companies through this standardised communication language which is in electronic form can express, report or file the financial statements. But the only way of presentation and reporting is XBRL. It does not try to execute any modifications in the content to be published. However, these all can be done with the help of a solid XBRL software. XBRL filing is required … Read More

It is necessary for each company to furnish the annual accounts and annual return according to the Companies Act, 2013. The ROC filing is administered under Section 129 (3), 137, of The Companies Act, 2013 along with Rule 12 of the Company (Accounts) Rules, 2014. Under this head, the annual return is administered under Section 92 of the Companies Act, 2013 and Rule 11 of the Companies (Management and Administration) Rules, 2014.

In ROC annual return filing under income tax … Read More

MGT 7 Form is for the purpose of monitoring the annual return details of a company. While the rest of the information is for general interest, the concerned individuals must know the upcoming MGT 7 due date for FY 2020-2021 for avoiding any penalties. The MGT 7 needs to be filled by all the businesses in electronic form provided by the Ministry of Corporate Affairs (MCA). The form is further managed via electronic modes by Registrar of Companies working under … Read More

Get to know the TDS return due dates and TCS return due dates with the last dates for filing for AY 2023-24 (FY 2022-23). E-filings returns of TDS/TCS  are filed on a quarterly basis and the quarterly statements are accepted in regard to provisions of the Income Tax Department.

The income tax department of India modified file formats in relation to TDS and TCS statements. Deductors/collectors need to ready e-TDS/TCS statements according to the file formats with the help of … Read More

What is Income Tax?

Tax is a pivotal arm for the good governance of a state or nation.

There are different types of taxes and they can all be categorized into two main groups i.e Direct tax and Indirect Tax.

A direct tax is levied on the income or profit of an individual. Income tax is an example of direct tax. Indirect tax is levied on goods and services.

Income tax due dates come every year in March ending must … Read More

The criterion for furnishing the MSME I form (MCA) through those particular forms whose outstanding payment to MSMEs supplier is more than 45 days is given below:

Order named: Specified Companies (Detailed information regarding payment to micro and small enterprise suppliers) Order, 2019

Date of Notification: In context to Order on January 22, 2019, issued beneath Section 405 of the Companies Act, 2013

Effective Date: From the Date of Publication in the Official Gazette

What is MSME Form 1 (MCA)?… Read More