Latest News
Wholesale and Retail Trade is not applicable in Section 43B(h)
The landscape of taxation and deductions in India, as governed by the Income Tax Act 1961, presents a provision of wholesale and retail trade…
Income Tax
Tax Challenges in Business Reorganization
Taxation of corporate reorganization is vital in the realm of business reorganizations, where substantial alterations occur in a company’s structure or ownership. Be it…
Miscellaneous
Use of Trademark Clearance Certificates for Copyrights
In the trending world of intellectual property, exploring the use of trademark clearance certificates and copyright work will be tough. There need to be…
Miscellaneous
Taxpayers ability to file revised GST Returns From 2025
A recent enhancement in the file revised GST Returns taxation system will lead taxpayers an equipped tool, which is valuable and known as the…
Income Tax
How non filing of ITR notice can be responded
If you rеcеivеd non filing of ITR notice then it is important to understand thе procеss and know how to rеspond it еffеctivеly. Firstly,…
GST
Corporate Guarantee under GST or whether to supply
In the realm of GST, understanding corporate guarantee under GST or in supply scenarios is crucial. A corporate guarantee involves one company assuring…
Miscellaneous
Have a look at SOP, DLOP, and LOP Tax implications of selling a house
Tax implications of selling a house: Owning the property comes with various tax implications and understanding the different classifications for house property will play…
GST
What is GST Audit: Its Types, Forms and Procedures
What is GST Audit: Goods and Sеrvicеs Tax (GST) in India focuses on the sеlf-assеssmеnt and compliance by the taxpayеrs. Howеvеr to ensure the…
GST
GST on Sale of used Cars
For the companies or businesses involved in the sale of used cars and other vehicles, the GST implications are significant for both financial planning…
GST
Details Regarding GST Return for Restaurants [Offline and Online services]
Under the Goods and Services Tax (GST) regime in India, restaurants are subject to spеcific rulеs and ratеs for thеir sеrvicеs. Let us еxplorе…
Trademark Registration/IPR
Filing of TM-M Trademark
The filing of a Trademark Management-Maintenance (TM-M) occurs after the successful registration of a trademark. TM-M is a crucial step in protecting the validity…
SEBI Registration
SEBI’s Overhaul of Social Stock Exchange
The Securities and Exchange Board of India (SEBI) has started a key transformation in the landscape of finance with the revamping of the Social…
GST
GST on electricity bill in India
The Goods and Sеrvicеs Tax (GST) in India brings significant changes in the taxation of various expenses including electricity charges. Rеimbursеd еlеctricity chargеs can…
Income Tax
Explaining the No Income Tax Exemption to News Agencies u/s 10(22B)
As of April 1st, 2024 the significant changе took еffеct in thе Indian tax landscapе. Thе еxеmption grantеd to nеws agеnciеs undеr the Section…
FEMA
Can NRI Buy Agricultural Land In India
Can NRI Buy Agricultural Land in India, holds an immense potential in the real estate investments, generally for non-resident Indians (NRIs) looking to diversify…
Start and manage a business
E-commerce Business in India
E-commerce business in India is a vibrant activity, where digital marketplaces are transforming the way businesses manage and consumers shop. In this comprehensive article,…
Company Law
Section 188 of Companies Act, 2013 & AS-18
The companies act, 2013 and Accounting Standard-18 (AS-18) are the regulatory structure in the corporate governance and financial reporting. Each one of them is…
Miscellaneous
Company Secretary as a Forensic Auditor
The Company Secretary plays a crucial role in the corporate governance as the guardian of compliance and transparency. However, in present times, the obligations…
GST
Export of Services and Consideration Receipt under GST
In the world of business trade, the export of services plays a crucial role in the economic country. The Goods and services regime have…
Startup/ Registration
Start-ups Funding- A Quick Checklist
Starting the process of raising money for a startup? Check out our Fundraising for Startups Checklist guide – it’s your roadmap to getting the…
FSSAI License/Registration
Food franchise business in India
In recent years, the food franchise business in India has witnessed remarkable growth, driven by changing consumer preferences, urbanization, and increasing disposable incomes. Entrepreneurs…
Miscellaneous
Real Estate Investment in India
The India’s real estate field has emerged as a magnet for multinational investors, providing promising opportunities to landscape of evolving economic dynamics. With its…
Income Tax
First-Time Cost Audit? Here’s Your Comprehensive Guide
Performing a first-time cost audit is a crucial step for any organization seeking to enhance financial efficiency, identify areas of overspending and optimize resource…
Startup/ Registration
Due Diligence for Startups in India
Due diligence is an examination or audit conducted prior to a transaction, such as a purchase, investment, business partnership, or bank loan, to ensure…
Annual Compliance
COMPLIANCE CALENDAR FOR CALENDAR YEAR 2024
Setting out on a profitable business journey in 2024 requires careful attention to regulatory requirements in addition to strategic preparation. The annual Compliance Calendar…
Foreign Taxation
Tax Liability on International Relocation
Exit taxes are imposed by governments on individuals, businesses, and property upon departure to confiscate any capital gains accrued or unrealized before the taxpayer’s…
Miscellaneous
Legal Framework for Conflict of Interest (COI) at Workplace
In the ever-changing modern workplace, ensuring ethical conduct is essential for maintaining integrity and trust. The organizations encounter many problems but one of the…
Company Law
Charges under Companies Act 2013
The Companies Act 2013 has brought consequential impact in the corporate structure. Various rules and regulations have been numbered which determine the impact it…
Miscellaneous
CPGRAMS Portal of Government of India
The Centralized Public Grievance Redress and Monitoring System (CPGRAMS Portal of Government of India) is an online platform that can be used by citizens…
Change in Business
Dematerialisation of Securities in Private Companies
Dematerialisation of Securities in Private Companies refer to the process of converting physical securities such as share certificates, bonds into digital form. What are…
Miscellaneous
SMFG Grihashakti Home Loan
SMFG India House Finance Company, now known as SMFG Grihashakti Home Loan, formerly recognized as Fullerton India Home Finance Company Limited, has risen as…
Start and manage a business
MSME Schemes, CGTMSE and NIF Funds
Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in driving economic growth, fostering entrepreneurship, and generating employment opportunities in India. Recognizing the…
Miscellaneous
Social Stock Exchange in India
In an era where global challenges like climate change, inequality, and poverty demand innovative solutions, traditional financial markets too need to accommodate a new…
Company Law
Arbitrability of Flat-Buyer Disputes under RERA Act 2016
The Indian government enacted, the Real Estate (Regulation and Development) Act, 2016 (RERA) which serves as a legislative framework, designed to protect the interests…
Company Law
Type of Directors in a Company in India
The directors through the board of directors manage a company by making decisions, devising strategies, and ensuring the organization meets its objectives. Every type…
Miscellaneous
FAQs on PAS-6
FAQs on PAS-6 FAQs on PAS-6, it refers to the submission of approval of the audit report on the share capital (half-yearly) of unlisted…
Miscellaneous
Transition to XBRL filings for listed entities
A global language used for company reporting, XBRL is used to transmit financial and business data electronically. The analysis, preparation, and sharing of company…
Company Law
BENEFICIAL INTEREST IN LLP CONTRIBUTION
The Ministry of Corporate Affairs, New Delhi recently issued a significant notification dated 27 October 2023, amending Limited Liability Partnership Rules (LLP), 2009. The…
Miscellaneous
GruhLaxmi to Mahalaxmi: 33.33% Women’s Reservation in Parliament
Women Reservation Bill brings a change from GruhLaxmi to Mahalaxmi which represents an evolution toward greater empowerment and representation for women in the political…
NBFC Registration
Scale Based Regulations (SBR): A Revised Regulatory Framework for NBFCs
The Reserve Bank of India (RBI) issued the (SBR) Scale Based Regulation Guidelines on October 19, 2023, ending the primary division of Non-Banking Financial…
Company Law
PAYMENT OF STAMP DUTY ON SHARES
Stamp duty on shares is a tax imposed by government on the transfer of ownership of shares and securities as outlined under Companies Act…
Miscellaneous
3 Most Convenient Payment Platforms for Bettors
In recent times, the Indian market has witnessed a surge in popularity among the masses in online betting and gambling. The convenience of making…
Miscellaneous
Have You Heard About This New Foreign Trade Policy in 2023?
India’s Foreign Trade Policy 2023 aims to boost exports and facilitate business conduct, focusing on the “Export Control” regime. It includes incentives for remission,…
Company Law
What is AoA for Nidhi Company Formation?
AoA for Nidhi Company is a document that contains the purpose of the Nidhi Company and its operational guidelines. AoA is an important document…
Miscellaneous
From CSR to BSR: Beneficiaries – The Driving Force Behind Success of CSR
Businesses have a strong desire to have a positive social impact and to give back to the communities that help them. Similarly, the government…
Miscellaneous
How to Terminate a Contract
How to Terminate a Contract? Ending or Terminate a contract means stopping an agreement between people or companies. Figuring out when to do this…
GST
Effective GST Changes With Effect From 1 Oct 2023
The Government of India on 1 July 2017 introduced the Goods and Services Tax Act 2017 to replace the prevailing complex and fragmented tax…
Income Tax
Challenges in Paying Duties, Taxes and More: Importer/Exporter Woes
A Custom duty could be understood as a tax imposed on the import and export of goods. The Indian government uses this duty to…
Company Law
What is the Role of a Nominee in OPC?
A nominee plays a crucial role in an OPC. A novel type of business structure known as the One Person Company (OPC) emerged with…
Income Tax
Disqualifications as Tax Auditor under section 44AB – Income Tax Act
Are you familiar with the term ‘tax audit’? Well we all know the concept behind auditing which is to carefully review and inspect financial…
Income Tax
PENALTIES FOR NOT FILING TAX AUDIT REPORT IN INDIA
Section 44AB OF THE INCOME TAX ACT 1961 requires the firms or entities to get their accounts audited every year by a Chartered Accountant…
Income Tax
Tax Saving Options for Salaried Employees
Making the most of your tax savings as a salaried employee is essential to maintaining your financial security and guaranteeing a happy future. You…
Income Tax
Strategies to Minimize TDS on FD Interest
Fixed deposits are a good investment since they can withstand market fluctuations. A 2023 survey found that Indians favour FDs. About 23% of investors…
Income Tax
Belated Return: How to File an Income Tax Return after the Due Date?
The last date for filing income tax returns for the financial year 2022–23 was July 31, 2023. However, if you were not able to…
Agreement Drafting
LLP Agreement: Key Clauses and Essentials
An important document that creates the foundation for the partnership’s operations is the Limited Liability Partnership (LLP) Agreement. A successful partnership is built on…
Miscellaneous
Cost Audits: A Comprehensive FAQ Guide for Businesses & Professionals
Welcome to the ultimate guide on Cost Audits! In the world of business, understanding where your money goes is crucial. This comprehensive FAQ Guide…
Miscellaneous
Understanding Significant Beneficial Ownership (SBO) Rules
The concept of significant beneficial ownership under the Companies Act of 2013 has become a pivotal element in corporate governance and transparency. With the…
Startup/ Registration
Registration of Foreign Company in India
India has a big economy and a lot of people, so it’s a great place for international companies to explore new opportunities. India is…
Income Tax
Understanding Section 263 of Income Tax Act, 1961: A Comprehensive Guide
Section 263 of the Income Tax Act, 1961 serves as a key mechanism to ensure the proper and just administration of tax laws in…
Miscellaneous
The Evolution of Mediation Practices in Bankruptcy Laws
The areas of mediation, insolvency, and bankruptcy frequently intersect within the worlds of business and finance, encompassing diverse legal procedures. The purpose of insolvency…
Miscellaneous
GST compliance calendar for November 2023
All professionals and registered businesses may plan for compliance well in advance thanks to the GST calendar. To avoid paying late interest or penalties, all…
GST
GST on Betting, Gambling, Casinos, Lottery & Online Gaming – What You Need to Know
In India, the Goods and Services Tax (GST) has significantly changed the taxation of many activities such as betting, gambling, casinos, horse racing, lottery,…
Miscellaneous
Combination of DIN with DPIN
MCA has decided to issue only one identification number to individuals for both the purposes of becoming a director and a designated partner to…
Compliance
Annual Compliance Checklist for Private Limited Company – Companies Act 2013
Ensuring compliance with the Companies Act 2013 is essential for the seamless operation of a Private Limited Company. An annual compliance checklist serves as…
Miscellaneous
Tax Savings through Section 54 & 54F on Sale of Non-Residential Properties
When selling a non-residential property in India, it is important to understand Section 54 and 54F of Income Tax Act. These provide tax-saving alternatives…
Income Tax
Taxability of Gratuity in India: Rules for Government & Private Employees
Gratuity is a reward for an employee’s long-term service. While it’s a gesture of gratitude, not everything is taxable. Gratuity is completely exempt for…
Miscellaneous
Liability for an OPC
An important step towards the registration of One Person Company under the Companies Act, 2013 is that it makes possible for one person to form a…
Miscellaneous
Difference between Nidhi Companies and Co-Operative Society
Nidhi Companies and Cooperative Societies are two common choices for structuring and overseeing financial operations inside a community. Do you want to know how…
Miscellaneous
A Complete Difference Between Nidhi Company and Micro Finance Company
Nidhi and Microfinance Companies work in diverse areas of finance, assisting different categories of people. Despite the fact that they both work in finance,…
Miscellaneous
What are the Key Metrics to Include in Your Pitch Deck?
Understanding the main metrics to include in a pitch deck is critical for entrepreneurs seeking investment for their new ventures. A pitch deck is…
Income Tax
What is Indirect Tax? Understand the Types, Features, and Filing Here
Are you acquainted with the concept of indirect taxes? Manufacturers purchase the goods and pay taxes in the form of indirect tax. The production,…
Income Tax
ITR 4 Form (Sugam)
The ITR-4 Form, also called Sugam, is a simple tax return form made for people and families in India who earn money from businesses…
GST
GST Cancellation and Its Impact on Export Businesses in 2023
The Goods and Services Tax (GST) regime has significantly reshaped India’s taxation structure. All businesses operating in India are required to register and comply…
Miscellaneous
One-Person Company: Maximum Number of Directors Needed
One-person companies (OPCs) have emerged as a popular business structure in recent years, providing an opportunity for solo entrepreneurs to operate a limited liability…
Drug License
Ayush License in Rajasthan
Introducing the Ayush License in Rajasthan – a big step for better health! It shows how much the state cares about whole-body healing. This…
Startup/ Registration
How to Start a Business in Mumbai? Important Business Ideas in Mumbai
Mumbai, the financial capital of India, offers vast opportunities for aspiring entrepreneurs looking to start their business ideas in Mumbai. Mumbai provides an ideal…
Income Tax
ITR 1 (Sahaj) Form
The ITR 1 (Sahaj) form is a simplified income tax return form for individuals with salary, one residential property, and other sources of income…
Income Tax
HRA Calculation
Employers include a portion of employees’ salaries known as the House Rent Allowance (HRA) to help cover their rent bills. The Income Tax Act…
Agreement Drafting
Top Tips for Successfully Updating Your LLP Agreement
Changing circumstances and evolving business dynamics often require updates to the Limited Liability Partnership (LLP) agreement. An LLP agreement acts as a crucial document…
Miscellaneous
Key Differences Between an LLC and an LLP: Exploring the Legal Business Structures in India
The legal structures play a vital role in determining how companies are established, governed, and taxed. In this Limited Liability Companies (LLC) and Limited…
Startup/ Registration
What Is the Purpose of Rajasthan Shops and Establishment?
The Rajasthan Shops and Establishment Act seeks to govern working conditions, employment, and other relevant issues in stores, commercial establishments, and residential hotels. It…
GST
What is GST Refund, How to Claim and Check Refund Status Online?
Understanding the complexity of the GST system is critical for both businesses and people. The GST refund is a system designed to reduce the…
Foreign Taxation
How Can NRIs Lower TDS on Income Generated from India?
Non-resident Indians (NRIs) frequently experience difficulties in managing taxes in India. TDS is a common source of anxiety for NRIs because it requires deducting…
GST
GST on Accommodation Services Supplied by the Air Force: A Comprehensive Analysis
GST is an indirect tax levied on the supply of goods and services in India. GST has brought various sectors under a unified tax…
Miscellaneous
How to Ensure the Validity of a Property Sale Deed?
The validity of the sale deed ensures the legitimacy of the property transaction and protects both the buyer and seller’s rights. Potential concerns such…
Start and manage a business
How to Get a Company Registration Number or CIN in India
In India, obtaining a Company Registration Number (CRN) or Corporate Identification Number (CIN) is required for establishing a firm. The CIN is a unique…
Finance Company
What is RD? – Know About the Features and Benefits
A recurring deposit is a type of term deposit that is very popular among investors as a reliable savings or low-risk investment plan.…
GST
How does GST Composition Schemes Work ?
The Goods and Services Tax (GST) is an indirect tax that has revolutionized the way taxes are levied in India. The GST Composition Scheme…
Trademark Registration/IPR
Let’s understand the main difference between Trademark Registration & Design Registration
Protecting intellectual property has become vital for businesses of all sizes. One of the two intellectual property protections is trademark registration and design registration.…
GST
GST Payments: How to Create GST Challan and Pay Online
The adoption of the Goods and services Tax (GST) in India has changed the way groups and clients see indirect taxation within…
Income Tax
All You Need to Know About Income Tax for Senior Citizens
Are you inquisitive to know about the income tax slab for senior citizens? Income tax is a crucial yet difficult part of managing…
Section 8 Company
Documents Required for Section 8 Company in Udaipur
A Section 8 company is a type of nonprofit organization established under Section 8 of the Companies Act, 2013, in India. This seeks to…
GST
What are Some Frequently Asked Questions about Life Insurance Tax Benefits?
We are aware that Section 80C of the Income Tax Act 1961 allows for a tax deduction on life insurance payments. So, purchasing life…
Miscellaneous
Understanding the GST Rates in 2023 for Different Goods and Services in India
The GST has transformed the tax landscape in India since its implementation on July 1, 2017. This inclusive indirect tax regime has included multiple…
GST
GST Portal Login Guide: A Guide to Take You Through the GST Registration Process
The GST is an indirect tax introduced in India on 1st July 2017. It is a comprehensive, destination-based tax that has replaced multiple indirect…
GST
How To Generate E-Way Bill – Documents Required, Format and Procedure
As the digitalization of businesses continues to gain momentum, the implementation of the E-Way bill system has revolutionized the movement of goods throughout India.…
GST
e-Way Bill System in GST: Rules, Validity, and Benefits
The GST is an indirect tax that replaced multiple state and central taxes in India. The successful implementation of GST enhances the government to…
GST
What is a GST Invoice: Meaning, Format & Time Limits?
A GST invoice is an important record in the Indian taxation system that acts as actual evidence of the transaction of goods and services.…
GST
Types of GST in India
GST is regarded as one of the significant revisions to the tax levied on goods and services proposed by the Indian government. Everyone who…
Income Tax
How to check TDS Refund Status
Staying informed about the status of your Tax Deducted at Source (TDS) refund is critical if you have been looking forward to it. Fortunately,…