Significance of Fixed Asset Compliance in small to large scale Organizations

Worthless to say that every business owner should comply with all corporate governance related to Fixed Asset Management. The fact is asset depreciation should be analyzed in adherence to multiple compliances like New Companies Act 2013, SEZ, Income Tax Act, STPI, etc.

 In brief, each logistics stakeholder agrees that SOX/STP/CT3/SEZ compliance is quite daunting, cumbersome and time-sucking activity but it must be accomplished as per STPI, Customs or Central Excise departments. In a case of any breach, the business owner has to pay a lump sum penalty. Hence, every organization must adhere to these complaints. Moreover, there are many business owners who wish this mandatory activity should be automated to bring peace of mind. Thus, to cater to fixed asset compliance, TRAXX Fams offers SOX/STP/CT3/SEZ module, which helps organization adhere to the compliances only with tiny efforts and time because all the compliance related annexure and reports will be automatically generated from the application itself.

 Fixed asset compliance management offered by TRAXX Fams offers organisations to analyze depreciation accordingly New Companies Act 2013 & Income Tax Act. The fact is, it has a large panel of professionals to track amendments in rules and validate before it is released to subscribers.

 A fixed asset management software helps to show the assets in the balance sheet accordingly with the assets available on the floor. Moreover, you can use TRAXX to reconcile the Finance Asset Register with Physical Asset Register. This will help you to eliminate variance if any to experience the accurate results. Moreover, this software is easy and quick to use.

 Traxx offers SEZs which is excellent facilities to influence investments for special purposes such as exports as these ensure strict compliance norms for supervising assets used for these particular purposes.

 Hence, if you have not used fixed asset compliance software, then you should avail it from TRAXX Fams as it will offer you a full-fledged compliance software for your fixed assets.

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