Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / kiran b. suryavanshi
Statutory compliance
Statutory means "of or related to statutes," or what we normally call laws or regulations. Compliance just means to comply with or adhere to. So statutory compliance means you are following the laws on a given issue. The term is most often used with organizations, who must follow lots of regulations. When they forget or refuse to follow some of those regulations, they are out of statutory compliance. A company that follows all the rules, is in statutory compliance.
Many companies are out of statutory compliance, in part because the cost of following the rule is too high, and/or the consequence is too small to worry about. For example, when you start a new business in most USA cities, you are supposed to go down to the courthouse and file a form stating what business you are now in. If you don't file it, few people will ever notice, and if they do, they usually just tell you to file it now.
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?
Whether C Form can be issued for the transactions that made 5-6 years back? What are the procedures?
what is the procedure for Excisable goods transfer from Head office to branch and vice versa (the branch is located in the same state) also if the branch is located in other states. How will it affect the VAT returns
what is the prime cost? and factory cost how to calculate it?
how to calculate entry tax interest rate 2011-2012 assessment pending amt. is Rs.32000
CERTAIN LIST OF EXPENSES ARE MENTIONED IN SECTION 35D regarding amortisation of such expenses........not included in the list are expenses like administrative expenses,consultancy fees etc...if these expenses are of revenue nature then well and good enough, problem taken care of.If it is not of revenue nature nor is it included in the list, how do u treat such expenses. Do u capitalise them by way of fixed assets or sunk costs or what do u do? any case laws that talk about expenses not mentioned in the section?
i had received an arrear 0f Rs.700000/- lacs for the period 1.1.2007 to 31.3.2010 and Rs.78000 for the period 1.4.2010 to 31.7.10 during aug'2010. my normal salary for 2010-11 is 400000/-. on what amount will my rent free house perquisite be calculated? i have also claimed rebate u/s 89 by distributing my arrear salary in previous years.
how & on which amt tax should be calculate on pvt ltd company or ltd company
What is Vat and how it is adjustable with input vat and what return form required for DVAT?
How can the management breakup the salary of employee(if salary Rs.10000/-) which % they calculate the Basic,T.A,D.A,H.RA.and e.t.c.
What do you understand by transfer income?
How to make fdr entry in tally software i dont understand. when fdr open from bank and after work and interest it get closed. i want to understand how to make ledger of that and full details please help me
if i am running a tank lorry and the income of the tank lorry comes under haryana VAT 2003?
What are the basic and additional conditions for resident and ordinarily resident (ror)?
What is CAARO?
