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  Introduction In the course of business, it happens that many payments are made outside India. When payments are made outside India, there are certain compliances that need to be followed and tax deduction is required for any amount that is taxable under the Income Tax Act. The purpose of this compliance is to collect information regarding payments that are chargeable to tax in the hands of recipient NRIs. An NRI is required to file Form 15CA and Form 15CB for any payment made outside India. Form 15CB along with Form 15CA needs to be filed online on the official website of the Income Tax Department. What is Form 15CA? Form 15CA is a declaration made by the remitter stating that he has deducted tax from any payment made to a non-resident. Form 15 CA needs to be filed by the remitter — the person making the payment to the NRI or foreign company. It is also used as a tool to collect information regarding payments that are chargeable to tax. Through Form 15 CA, the Income Tax Department k

  Introduction Accounting is a more diverse profession than many people realize and can offer both long-term employer stability and the freedom of self-employment. Starting your own business is a daunting task, but the path to self-employment in accounting is carefully planned. In this article, we will discuss “How to start an accounting business in the USA?” We will try to answer your questions about Different business structures can be chosen for starting an accounting business in the USA and the benefits of business registration in the USA. Let’s take a look at “How to Run an Accounting Business in the US?” Before moving on, let’s discuss the services provided by the accounting firm. What are the services provided by an accounting business? Accounting firms provide a wide range of services to help business owners stay financially sound, tax-compliant and prepared for future growth. Accounting firms should be viewed as integral business partners rather than just a cost-cutting measur

  Introduction The Income Tax Department of India has made it compulsory for individuals and businesses to file their Income Tax Return (ITR) on an annual basis. To make the process simple and more efficient, the department has launched different Income Tax Return Forms depending on the type of income and the type of entity. ITR Form 5 is a form intended for individuals, Hindu Undivided Families (HUFs) and companies other than LLPs (Limited Liability Partnerships). In this blog, we will learn what ITR form 5 is and how to file it. What is ITR? ITR stands for Income Tax Return. It is a form to submit data on income from multiple sources and pay tax to the Income Tax Department. It includes complete details of income and tax saving investments made by the person during the financial year. What is ITR form 5? ITR Form 5 is a return form used by individuals, HUFs and firms other than LLPs who have undertaken business activities during the financial year. This form applies to those taxpayer

  Introduction Geo-coding is a mandatory procedure for address verification under the Goods and Services Tax (GST) system in India. It involves converting physical addresses into geographic coordinates (latitude and longitude) and has become an important tool to verify the accuracy of a business or supplier’s location. On February 24, 2023, the Goods and Services Tax Network released an advisory regarding geocoding of principal place of business. In this article, we will discuss the benefits, procedure and requirements of geo-coding for address verification under GST in India. What is the advice by GSTIN on geocoding of principal place of business? Functionality for geocoding of principal place of business is now accessible on GST Portal under Services/Registration tab in FO Portal. Taxpayers can view the geocoded address generated by the system and accept or update it as per their needs. The geocoded address details will be saved separately under the “Principal Geocoded” tab on the po

  Introduction The first thought that comes to mind when considering opening a business in the USA is probably “expansion.” Florida also always seems to come up when we talk about expansion. Florida’s pro-business environment, first-rate infrastructure, and highly qualified workforce may significantly help your company in international expansion. This article includes information on Florida company registration, the advantages of Florida company registration, and the Florida business registration procedure. What is Company Registration in Florida? Registering your Florida business as an authorized entity, such as an LLC, corporation, or non-profit, has two main advantages: it will give you more credibility and protect you from personal liability in the event that the company is sued. It’s important to keep in mind that all corporations, for profit or nonprofit, need to register with the Florida Department of State’s Division of Corporations. Furthermore, Sole Proprietors and Limited Li