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It is not easy to handle such a Huge yet Amazing country like India, where diversity between cultures, religions, Class can be seen clearly. The government of India, in its day-to-day routine, has been experimenting with new Ideas to generate different revenue sources for the country. We cannot deny that in…

Do you know holding an annual general meeting is an annual procedure that every company must follow? The Ministry of Corporate Affairs (MCA) has allowed companies to hold their Annual General Meetings (AGMs) through video conferencing for the next six months. Against the set outer limit of the end of…

There are about 18 types of companies that exist in India. How many could you name? Don’t worry you can name it all after reading this blog. In our country, various forms of business organizations are observed, such as sole proprietorship, limited partnership, Limited Liability Companies, companies, etc. However, with…

In her fifth consecutive budget speech, Union Finance Minister Nirmala Sitharaman made up to five personal income tax announcements on 1st February 2023 while releasing Budget 2023. Last year's budget made no mention of income taxes. Three announcements stood out among these five. First, under the new tax regime (announced…

Before the annual Budget announcement, pictures of India's finance ministers entering parliament while carrying briefcases circulated for years. All of that changed in 2019 when Nirmala Sitharaman, the finance minister, switched in her budget briefcase for a “Bahi Khata”. Prior to the 2019 Budget presentation, Nirmala Sitharaman was spotted holding…

Recently my friend wanted to change the name of his company voluntarily. We didn’t know that such a thing is possible until I laid my eyes on this blog. The name of the company is considered the identity of the company (public or private), which can be changed with the…

Property, Plant, and Equipment (PPE) model forms an essential component in part business as the business evaluation may also be calculated with it, every business indulging in it have taken due care regarding it. I’m sure you are also little curious to know about the latest rules in which special…

If you're about to start a business, you've probably stumbled across the word "compliance" many times. Compliance is one area that no business owner should neglect. However, many business owners still don't realize what it is or aren't sure exactly how it can benefit their business. If you are one…

“Your ride will be arriving shortly!” Nowadays even an ordinary person knows this and often uses a taxi service. In recent years, the rental of motor vehicle services (also known as the rent-a-cab service) has increased by leaps and bounds.  Implications of indirect taxes on motor vehicle rental services have…

My firm recently went through dissolution and I am not sure about the liability of the assets finally distributed. While wondering about such a question, I laid my eyes on this blog giving information on the tax on the distribution of assets to partners. So let us hop into this…