Basics of Statutory Compliance and Taxation Training

Empower your teams with expert-led on-site/in-house or virtual/online Basics of Statutory Compliance and Taxation Training through nuancedu,…

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Empower your teams with expert-led on-site/in-house or virtual/online Basics of Statutory Compliance and Taxation Training through nuancedu, a premier Basics of Statutory Compliance and Taxation training company for organizations globally. Our customized training program equips your employees with the skills, knowledge, and cutting-edge tools needed for success. Designed to meet your specific training needs, this Basics of Statutory Compliance and Taxation group training program ensures your team is primed to drive your business goals. Transform your workforce into a beacon of productivity and efficiency.

Basics of Statutory Compliance and Taxation revolves around understanding and adhering to the legal regulations and tax obligations imposed by the government on businesses. It is essential for organizations to ensure compliance with these laws to avoid penalties, legal issues, and maintain ethical practices, ultimately contributing to their sustainability and growth. Basics of Statutory Compliance and Taxation training course equips individuals with the necessary knowledge and skills to navigate the complex landscape of legal and tax requirements within an organization.

Basics of Statutory Compliance and Taxation instructor-led training course provided by nuancedu can be customized to meet team requirements. The virtual/onsite Basics of Statutory Compliance and Taxation training course led by expert trainers ensures employees gain comprehensive knowledge and practical skills in managing GST, TDS, and business data.

What Will You Learn?

Register for Goods and Services Tax (GST) based on eligibility criteria
Classify business transactions to determine applicable GST rates
Prepare accurate GST invoices with the necessary components
Claim Input Tax Credit (ITC) considering relevant conditions
Deduct Tax Deducted at Source (TDS) at appropriate rates and thresholds

Course Curriculum

Goods and Services Tax (GST)
1.Introduction to GST Overview of GST Importance of GST in business 2.GST registration Eligibility and requirements Step-by-step registration process 3.GST returns Types of GST returns Filing GST returns Due dates and compliance 4.GST invoicing Components of a GST invoice Creating and managing GST invoices 5.Input Tax Credit (ITC) Understanding ITC Claiming ITC and related conditions 6.GST compliance Maintaining records and accounts Penalties for non-compliance 7.Recent updates and amendments Latest changes in GST laws *Impact on businesses

Tax Deducted at Source (TDS)
1.Introduction to TDS Overview and importance of TDS Key provisions under the Income Tax Act 2.TDS rates and threshold limits Applicable TDS rates Threshold limits for various payments 3.TDS deductions and payments When to deduct TDS How to make TDS payments 4.TDS returns filing Types of TDS returns Filing procedures and deadlines 5.TDS certificates and compliance Issuing TDS certificates Ensuring TDS compliance and record-keeping 6.Penalties and interest Penalties for non-deduction or late payment Interest calculations and implications

Management of Business Data
1.Importance of data management Role of data in statutory compliance Benefits of effective data management 2.Data collection and storage Methods for data collection Secure data storage practices 3.Data analysis and reporting Analyzing business data for compliance Generating statutory reports 4.Software tools for data management Overview of data management software Selecting and using the right tools 5.Data security and privacy Ensuring data security Compliance with data privacy regulations

Moving to the Next Financial Year
1.Closing the financial year Steps to close the financial year Finalizing accounts and statements 2.Preparing for the new financial year Setting up new ledgers and accounts Carrying forward balances 3.Compliance checklist Ensuring all statutory compliance for the year-end Updating with new regulations and changes 4.Strategic planning Planning for tax savings and compliance Setting financial goals and budgets 5.Reporting and audits Preparing for statutory audits Generating necessary reports 6.Updating records and systems Updating accounting software and systems Ensuring smooth transition to the new financial year

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