The Income Tax Act has specified the books of accounts that are
required to be maintained for the purpose of Income tax. These have been prescribed
under section 44AA and Rule 6F.
"If your annual turnover exceeds Rs 20 lakh (Rs 40 or Rs 10 lakh as per supply and location),
you must obtain GST registration for intra-state transactions. Inter-state supply
requires mandatory registration irrespective of turnover."
Every individual who earns a taxable income more than Rs.2, 50,000/- in a year, has to file
their income tax return every year by computing their total taxable income.
Due to constantly changing labour and tax laws, demand for professional
payroll services is growing. By outsourcing payroll, you can reduce overheads
of maintaining separate team for payroll maintenance and query handling.
