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[Amarendra Srivastava | 12 Nov 2009 | One Comment | 3,265 views]
BizVidya Guide: Set-up Error Free Accounting Systems

The deadline for filing Corporate Tax Returns for FY 2008-9 in India, September 30, 2009, just passed by. This date was known a year back.

Many businesses did not file the returns on time, and would be paying late/penalty fees!

Accountants and Business Owners “know” about this deadline much in advance. But, the balance sheet is finalized on the last day, after days of frenetic late night error fixing by the accounting team and auditors. If you have a relatively large-volume business, the COST of such an approach could be HUGE