CBDT Further Extends The Due Dates Of Filing Various e-Forms Under Income Tax Act 1961. This news is likely to be welcomed by the taxpayers as they can now fill the e-forms even after the due dates and also within the extended time period. (i) The Quarterly statement in Form No. 15CC to be furnished […]
Top 7 Mistakes to Avoid When Starting Your Business
Starting a business is one of the most exciting things you’ll ever do, but it’s also one of the hardest. If you want to be successful, you’ll need to avoid making these common mistakes. This post will tell you the top 7 mistakes to avoid in your business so you can start off on the […]
Compliance Calendar For The Month Of August 2021
The third wave of covid has already begun in India, and it may be worse than the previous two waves. However, it is critical for firms to maintain compliance with numerous regulations. Here is the entire August 2021 compliance calendar. The entire compliance calendar for the month of August 2021, will serve as a […]
Avoid These 5 Common Tax Mistakes In 2021 While Filing Your Tax Return
Tax time is here. Some of you may be in for a pleasant surprise while others may find themselves in for a rude shock. We all make mistakes and here are the top 5 common tax mistakes and how they can be avoided. This blog covers the five most common tax mistakes that people make […]
Compliance Calendar for the month of July 2021
We all hear the 3rd wave of covid is already started in India, and this could be worse than the first 2 waves. However, it is important for businesses to stay compliant with various compliances. Here is the complete compliance calendar for the month of July 2021. The total compliance calendar for the month of […]
EXTENSION OF DUE DATES FOR COMPLIANCES IN VIEW OF ONGOING PANDEMIC
Ministry of Finance in a recent circular no-12 dated 25th June 2021 gave the extension of time limits of certain compliances to provide relief to taxpayers in view of the ongoing pandemic: Below are the due dates of compliances extended: The TDS return for the last quarter of the FY 2020-21 is further extended to […]
WHAT IS INPUT TAX CREDIT (ITC) AND HOW TO CLAIM IT?
Many small businesses often make the mistake of paying their Input Tax without claiming the same as an ITC. This blog talks about what ITC is, how to calculate ITC, how to claim ITC, and what are the important documents required to claim ITC. Meaning of Input Tax Credit ITC-Input tax Credit means the […]
You Will Have to Pay Double TDS from 1st July – Here’s Why?
The income tax department has a new formula to calculate your tax liability from July 1 if you haven’t filed your income tax return (ITR). According to the finance act 2021, if an individual has not submitted an Income tax return for the previous two years and has an aggregate TDS/TCS Credit of Rs 50,000 […]
Saving Cost and Time on Compliances of Startups
Every start-up and every company has a different story and different requirements when it comes to accounting, taxation, and compliance requirements. Here in this post, we have tried to explain some of our client’s stories and how we (BBNC) as a team have helped them with saving the cost of compliances for their startup. […]
Bookkeeping and Accounting, A Must for Your Business
Every growing company needs to have a dedicated bookkeeping and accounting team or service provider. The two practices are absolutely essential to maintaining businesses and organizing finances. For an untrained eye, bookkeeping and accounting may seem like the same thing, but here at BBNC, we can explain what their differences are and how important it […]
