Risk Management
What are the best accounting practices to use for an online business?
Online businesses have seen a potential future due to the pandemic.  The online platform was always popular. But with Covid-19, the popularity has doubled.  A growing business requires a simple solution to manage transactions. If you have an online business account and are looking to track the expenses, you need to read this blog.  8...
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The Most Common Mistakes People Make With Tax Planning And Strategy
The famous saying, ‘A penny saved is a penny earned,’ holds. As an eligible taxpaying citizen of the country, there are several ways to save on taxes legally. In doing so, there are a few common tax-saving mistakes that you must avoid. To help you with it, we’ve detailed them below. 1. Planning tax savings...
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3 Signs You Need To outsource Bookkeeping Of Your Business
Finance is the lifeblood of every business. Funds are required to begin, grow and sustain a business. Though the founding team mainly does funds management, CEO/COO/CXO/CFO, accounting professionals take care of the accounting process. Read on to find out the best hands to manage your business accounts. Traditional working methods Businesses have been employing accounting...
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Major Challenges of Accounts Payable Processing and How to Overcome Them
Introduction The accounts payable department is an important section of any corporation that manages day-to-day commercial operations. It is in charge of monitoring cash flow, protecting against fraud, and maintaining vendor relationships. However, inherent difficulties in accounts payable generate unnecessary disturbances in the firm operation, delaying payment and collecting unpaid receipts. In this post, we’ll...
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Know the Top Benefits of Virtual CFO Services
Introduction According to The Telegraph’s analysis, over 60% of start-ups fail within the first three years. There are several reasons why early-stage enterprises fail so frequently, but one of the most crucial is a failure to develop a successful business strategy. As a result, it’s critical to get the financial side of things right from...
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Its been nearly three years since the GST law was introduced in India. While many have managed to fall in line with this new regime of taxation, many are still struggling to do so. In addition, the government has been diligently updating the system, keeping the GST taxpayers on their toes to meet with the...
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What Do You Do Now With Your GST Registration Number
The Goods and Service Tax (GST) is a consumption-based tax that is charged at the point of consumption. It is imposed at all stages of consumption, i.e. from manufacturing till its consumption or utilization by the consumers. So what comes next after you get your GST Identification Number (GSTIN)? Step 1: Showcase the GST Registration...
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Essential Deductions Under Section 80 of the Income Tax Act That You Must Know
The Government of India has given its citizens the benefit of reducing their income tax. This is by claiming Income Tax deductions for certain expenses and investments. Income tax is levied on individuals based on the income tax slab for the financial year. Taxpayers must keep a tab on the IT slabs rolled out every...
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15 Ways To Save Tax Legally That You Should Consider Now
There is multiple productive way of saving tax. You head that right. Now taxpayers can easily save tax legally. Most taxpayers are unaware of tax-free income. With the amount saved, taxpayers can invest double and drive better revenue. But how is it possible save tax legally? Diligen gives you 15 productive way of saving tax...
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tax Shelter
Introduction A tax shelter is a vehicle used by people or organizations to reduce or eliminate their taxable income and, as a result, their tax responsibilities. Tax shelters are lawful and can range from tax-favored assets or investment accounts to activities or transactions that reduce taxable income through deductions or credits. However, there are a...
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