In today's fast-paced world, technology has made it easier to manage various aspects of our lives, including rental properties. One of the most effective ways for tenants to streamline the rental process and stay organized is by adopting lease management software in India.
Managing leases manually, whether it's through spreadsheets or other means, can be a time-consuming and error-prone process for tenants. Here are some key pain points to consider:
GST compliance has been a burning issue since the launch of the Goods and Services Tax (GST) in India. lease GST TDS tenants payables are one of the main concerns of many businesses, especially small and medium enterprises (SMEs). The introduction of GST has led to an increase in the cost of lease GST TDS payables for tenants. This is because lease GST TDS is now levied on the lease payments made by tenants...
As a tenant, you understand the financial and operational responsibilities that come with leasing a property. Managing a lease agreement can be a very time-consuming task, and it can be difficult to keep track of all the necessary information. That's why lease management software is an invaluable tool for tenants and their lease accounting consultants. Let's explore the benefits of implementing this type of software.
At the end of every financial year, companies have to show how much their business is worth to their stakeholders in form of a balance sheet. Although you can show your revenue and expenditure in terms of number. in the case of other things i.e. their machinery, office furniture, building, etc. They can't only show it that they have three buildings and four machinery, They also have to show how much the machinery and buildings are worth now after regular wear and tear. Therefore to calculate those values they need to follow some set of rules i.e. IND AS. Before diving into the depth of IND AS 116 let us understand how IND AS was formed.