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 t...