The landscape of business is undergoing a rapid transformation. The current global situation has also been responsible for quick changes in the way organizations do business. Organizations have quickly adapted to newer technologies that can help various aspects of their organization function better. An area that requires looking into is the application of technology in…
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Statutory compliance refers to the process where companies adhere to a set of requisite laws and regulations by the regulatory body or entity. Compliance is monitored either by a governmental agency or an independent concern within a particular sector. These entities oversee practices and policies that companies follow while conducting business. The initiatives taken by…
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The CoVID-19 crisis has thrown businesses into disarray. Given that different locations have different regulations, HR managers have faced many challenges, including compliance. One of the ways HR managers have managed to deal with compliance-related issues is using HR compliance services. Seven state governments and the Central Government of India have invoked powers and provisions…
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Income Tax Slabs 2020 India Let’s take a quick brush-up of the Income Tax Slabs 2020 in India & explore how the income tax slabs, surcharges, and deduction limits have changed over the past nine years.
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The financial year is a standard one-year time period during which business is conducted. Organizations will have to submit balance sheets and income statements and other financial records to the government of India. The date with which the financial year starts differs from country to country. In India, the financial year or the fiscal year…
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The world’s marketplaces are constantly evolving and it remains to be seen what is in store for the way business and work is conducted. Organizations are beginning to adopt newer practices and trends to stay ahead of their competitors. Key Statistics for the Future Mckinsey, in November 2017, published a report titled ‘Jobs Lost, Jobs…
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Businesses face numerous issues every day and every year related to compliance that may impact their businesses severely. The cause of these issues is very stressful, especially for small businesses. In today’s world of cut-throat business competition, every business gives foremost importance to compliance solutions. To be frank enough, in today’s ever-changing landscape of HR…
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Tax is an essential exercise in any nation. The wealth collected from taxation is used in activities that enhance the interests of a nation such as defense, social welfare programs, infrastructure, and so on. India is no exception to this rule, with the income tax department having been formed in the year 1860. Taxation applies…
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Compliance Management Compliance Management refers to managerial practices where all dealings and activities are monitored carefully by companies and organizations. This is done to ensure that they meet a set of requirements, codes, or standards. Failure to meet those imposed standards is called compliance failure. Compliance failure can result in severe damage to the company’s…
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Payroll Taxes are taxes that are deducted from an employee’s salary by an employer. Payroll taxes are usually a small percentage that is deducted from an employee’s salary. These taxes are used for various purposes and to cover programs such as medical insurance and social security for employees. This is done when employers deduct those…
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