FEMA
What is FDI?
Foreign direct investment (FDI) is when a company controls the ownership of a business entity in another territory or country. With FDI, foreign companies…
Compliance
Process for Filing of FC-GPR with RBI
When a company receives foreign investment, form FC-GPR is issued by the Reserve Bank of India (RBI). Accordingly, the company will issue shares to…
Finance Company
Online process to file GST returns in Jaipur
GST has made easy the tax return filing process by accumulating information about the goods and services of sellers and customers under one head.…
Finance Company
Full Fledged Money Changer (FFMC) License
A Full-Fledged Money Changer is a company that carries out business activities such as forex currency after prior approval from the Reserve Bank of…
Income Tax
All You Need To Know About the Notifications With Regard To Filing of Form 10F
In recent years, there are various new notifications with regard to the filing of Form 10F introduce. Central Board of Direct Taxes (hereinafter referred…
Finance Company
All you need to know about the Export of Goods And Service against Letter of Undertaking
Export is a significant term for multinational trade. It includes the sale of goods/ services from one country to another. In India, there are…
Company Law
Directorship by Foreigners in Indian Companies: A Growing Trend
The globalization of the world economy has led to the increased participation of foreign entities in the Indian economy. In the corporate sector, foreign…
Income Tax
Decoding the Distinctions: Understanding the Difference between Professional and Technical Services
The Indian tax system has various provisions to ensure timely and accurate payment of taxes. Section 194J of the Income Tax Act, 1961, is…
Start and manage a business
Voluntary Surrender of CoR/License by NBFCs for cancellation
The term NBFC stands for Non-Banking Financial Company which is of great importance in India. It fulfills the role of ensuring proper financial financing…
GST
Can unregistered persons file GST refund claims presently?
On 27 December 2022, the CBIC issued a circular prescribing how an unregistered person can apply for a refund. Unregistered persons can apply for…
Income Tax
Recent Updates regarding Income Tax Return and New Income Tax Return Forms
Filing Income Tax Returns (ITR) can be a daunting task for many individuals, especially those who are not familiar with the process. However, with…
Startup/ Registration
All you need to know about Startup Registration in Udaipur
Udaipur is rich in its culture, historical and scenic areas, and Rajput-era palaces. It is also known as the “City of Lakes” and attracts…
Income Tax
Understanding the Tax Implications of Remission of Trading Liability for Assessees under Presumptive Taxation
Under the presumptive taxation system in India, certain eligible taxpayers are allowed to pay tax on a presumptive basis. This means that the income…
GST
Arbitrariness in Section 159 (CGST Act, 2017) & its Impact on Corporate Governance
The Indian tax regime affects corporate governance by either imposing liabilities or offering tax incentives; in contrast, corporate governance has an impact on the…
GST
Flats & villas without GST & cancellation of Flat bookings- Latest Update
If you want to cancel a flat booking, then you have come to the right place. How smooth your cancellation process basically depends on…
GST
Concept of Inverted Duty Structure under GST and how to claim Refund
There was a constant tug-of-war between the departmental officer and the GST registrant regarding the claims for refund of input services in case…
Compliance
Synopsis of Compliance for Related Party Transactions
Any contract or arrangement entered into with a related party is deemed to be a related party transaction under the Companies Act, 2013. The…
Latest News
Rajasthan’s Budget 2023: Characteristics and Highlights
The state budget for Rajasthan, with the theme of “Bachat, Rahat, Badhat,” was unveiled on Friday by Chief Minister Ashok Gehlot. Given that the…
Compliance
ROC Compliance Calendar 2022-23 in India: A Guide for Companies
In India, companies are required to comply with various regulations and laws under the Companies Act, 2013. The Registrar of Companies (ROC) is responsible…
Income Tax
Clarification on the Entitlement of Input Tax Credit
You must pay sales taxes when you buy a product or service from a dealer. This tax is collected when you sell. You subtract…
Miscellaneous
Need of Cost & Management Accounting and its Role in providing Healthcare Services at Affordable Prices
Finance and Accounting have grown in importance in today’s competitive business environment, where corporate organisations must provide an accurate and fair picture of their…
Income Tax
Concept of TDS and TDS Rate Chart for FY 2022-2023
It is not easy to handle such a Huge yet Amazing country like India, where diversity between cultures, religions, Class can be seen clearly.…
Compliance
Relaxation for conducting EGMs & Postal Ballots
Do you know holding an annual general meeting is an annual procedure that every company must follow? The Ministry of Corporate Affairs (MCA) has…
Company Law
Types of Companies under Companies Act, 2013
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…
Latest News
Budget 2023 Key Highlights: All you need to know about the Budget 2023
In her fifth consecutive budget speech, Union Finance Minister Nirmala Sitharaman made up to five personal income tax announcements on 1st February 2023 while…
Latest News
Expectation of common man with Budget 2022- 2023 regarding Income Tax and Taxation
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…
Change in Business
Practical steps to change the Name of a Private Company
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…
Miscellaneous
IND AS 16 – Capitalization of Plant & Depreciation
Property, Plant, and Equipment (PPE) model forms an essential component in part business as the business evaluation may also be calculated with it, every…
Compliance
All about the Compliance Calendar for February 2023
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…
GST
Are you aware of RCM on renting of motor vehicle under GST?
“Your ride will be arriving shortly!” Nowadays even an ordinary person knows this and often uses a taxi service. In recent years, the rental…
Income Tax
Tax on the Distribution of assets to partners
My firm recently went through dissolution and I am not sure about the liability of the assets finally distributed. While wondering about such a…
Income Tax
Deduction 80PA of Income Tax Act, 1961: An Overview
After section 80P of the Income Tax Act, 1961 (Income Tax Act) section 80PA is inserted with effect from 1 April 2019. Section 80PA…
Miscellaneous
Critical Considerations of the Indian Government’s Budget- 2022-23
The Budget of the Government of India is an important document that details all the expenditure, revenue collection and development plans of the government…
Startup/ Registration
All you need to know about Startup registration in Uttar Pradesh
Last weekend, I went to most populous yet most exciting state of India, i.e. Uttar Pradesh, where I see most of people were engaged…
Finance Company
Virtual digital assets and the complex world of tax compliance
The Finance Act 2022 instituted section 115BBH and it is applicable from AY 2023-24. The section provides that income from the transfer of Virtual…
Income Tax
Guide to new TDS Section 194R of the Income Tax Act
The Finance Act 2022 introduced section 194R which deals with the deduction of tax on benefits or emoluments to businesses or professions. Businesses, companies…
Startup/ Registration
Procedure to Incorporate One Person Company in Rajasthan
Are you also interested in learning how to incorporate a One Person Company in Rajasthan? Great, you’ve come to the right place. Our Legal…
Income Tax
Global minimum tax under BEPS
The Global Minimum Tax (GMT) applies a standard minimum tax rate worldwide to a defined corporate income base. The OECD has drawn up a…
Miscellaneous
Land Owner – Promoter under RERA Act 2016
The real estate sector plays an important role in fulfilling the need and demand for housing and infrastructure in the country. Builders and promoters…
Company Law
Allowable Remuneration/Salary to Directors of a Company
Regulation of the payment of directors’ compensation is important for a number of reasons, chief among them the need to stop company money from…
Miscellaneous
All about Employees Provident Fund (EPF)
The Employees’ Provident Funds and Miscellaneous Act, 1952’s principal programme is EPF. EPF is funded by 12% of the employee’s base pay and dearness allowance…
Finance Company
How to increase your wealth without an actual increase in earnings?
The Steps to Building Wealth without an actual increase in earnings is Smart and feasible Financial Planning. Finances play a very crucial role in…
Compliance
Annual Filing of LLP- Form 8, Form 11
An LLP in India has to file its annual return compulsorily. Unlike companies, LLPs must mandatorily maintain their financial year from 1 April to…
Compliance
Addition and Removal of Directors under Companies Act, 2013
Directors are the organization’s top decision-makers. In addition to serving as a trustee, agent, employee, and officer of the corporation, a director also performs…
Income Tax
Everything You Need to Know about Crypto Tax in India
The draft Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was proposed by the Indian Government and has become a key area of…
Startup/ Registration
9 Benefits of being a Small Company
In order to give smaller companies functioning as Private Limited Companies certain advantages, the idea of a small company was created in the Companies…
Startup/ Registration
Section 8 Company under Indian Companies Act, 2013 in Agra
The primary objective of forming a corporation as a Section 8 Company is to promote non-profit objectives such as commerce, business, the arts, charity,…
Company Law
Corporate Fraud in India & Outside India under Companies Act, 2013
Corporate fraud is defined as unlawful, misleading activities conducted by a company or a person using highly trained accounting practices to inflate a company’s…
Company Law
Inter Corporate Loans and Investments – Section 186 under Companies Act, 2013
With the approval of the board of directors or shareholders, a corporation can provide loans and guarantees, purchase securities, or invest in another company…
Startup/ Registration
Advantages/Benefits of registration of LLP (Limited Liability Partnership) in Himachal Pradesh
If you are planning to set up a Limited Partnership or LLP in Himachal Pradesh, you will find all the relevant requirements set by…
Miscellaneous
All about Hindu Undivided Family (HUF)
A Hindu Undivided Family (HUF) is any individual who is lineally derived from a common ancestor, including their spouses and unmarried daughters. A typical…
Section 8 Company
Section 8 Company Registration in Dehradun
Promoting non-profit goals including trade, business, the arts, charity, education, religion, environment protection, social welfare, sports research, etc. is the main goal of incorporating…
Income Tax
TDS on Rent Payment to Non-Resident
TDS was designed to collect tax directly from the source of revenue. According to this theory, a person (deductor) who is compelled to make…
GST
Applicability of GST on Cold Storage
Warehousing and storage of agricultural produce come under Service Account Code 9986 and are exempted under Insert No. 54(e) of Notification No. 12/2017-Central Tax…
Miscellaneous
What is Leave Encashment?
Do you know what “leave encashment” means? The salaried class frequently uses the idea of leave encashment. It seems like you may make money…
Company Law
Specimen Excerpt of Board Minutes of a Private Limited Company
The minute of the general meeting is an integral document of the Company, which must be drawn up and kept in the same way…
Compliance
All about form DIR-3 KYC Application for KYC of Directors
If you have been allotted a Director Identification Number i.e. DIN, the DIN holder must submit a DIR-3 KYC every year. KYC of directors…
Startup/ Registration
Private limited Company Registration in Dehradun
If you are planning to set up a limited company in Dehradun, Uttarakhand, here we have provided all the requirements set by the Registrar…
Income Tax
Tax Planning for Individuals under Income Tax Act, 1961
Tax Planning is the process of evaluating a financial plan or conditions in relation to taxes in order to achieve the greatest possible tax…
GST
Summary of 48th Meeting recommendations from the GST Council
The GST Council was formed to oversee the Goods and Services Tax (GST) legislation. The GST Council is a combined forum of the Centre,…
Miscellaneous
All you need to know about The DESH Bill, 2022
About 378 SEZs were announced after India approved the Special Economic Zones (SEZ) Act, of 2005 and the rules regulating SEZs went into force…
Miscellaneous
Maternity Benefit available to a woman in India as per Maternity Benefit Act, 1961
Women make up half of the population, making up a significant portion of the labor force. The obligations of employment necessitate balancing job, childbearing,…
Miscellaneous
Offences and Penalties under Code on Wages, 2019
The concurrent list in the Indian Constitution includes labour-related legislation, which indicates that both the Central Government and the State Government are equally competent…
Trademark Registration/IPR
Cancellation of Registered Trademark in India
Any individual who feels that he has been wronged may file the petition to the Trademark Registry Office or Intellectual Property Appellate Board (IPAB)…
Trademark Registration/IPR
How to Draft a Patent Claim?
A patent is a privilege granted to an individual, whether natural or artificial, by the government through the Patent Act, of 1970 that prohibits…
Miscellaneous
ESG vs. Sustainability – What’s the Difference? Why is ESG Important?
ESG (Environmental Social Governance) and sustainability are sometimes used interchangeably in conversations. It’s usual to believe that sustainability is only one pillar or sub-component…
Compliance
Periodical SEBI Compliances
The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 apply to all registered companies having recognized securities listed on…
Latest News
Monthly (December 2022) Legal Obligations + Legal Updates for India
The taxpayer has to keep in mind certain points for every month of the calendar so that he could not forget to fulfill his…
Miscellaneous
Unlawful Freezing of Bank Account by Banks for pendency of Re-KYC
To comply with the Reserve Bank of India’s KYC regulations, banks must update customer identity papers in their records of account holders on a…
Startup/ Registration
Credit Guarantee Scheme for Startups
For any entrepreneur, getting a business off the ground is not an easy feat. Two of the main reasons why startups have found it…
Finance Company
How to Use Cryptocurrencies in Everyday Life?
When it comes to financial investing, Bitcoin is becoming increasingly popular. To ensure that transactions in the financial markets may be completed using crypto…
Agreement Drafting
What is the agreement of a gift and how to make it?
In India, transfers of property as gifts are governed by the Transfer of Property Act of 1882. Gifting real estate means transferring ownership of…
Income Tax
Format of Declaration under Section 13(1)(c) of Income Tax Act, 1961
Section 13 of the Income Tax Act, 1961 (Income Tax Act) describes the situations in which the exemptions provided by Sections 11 and 12 would…
Income Tax
Deduction in Respect of New Employees Recruited as per Section 80JJAA of Income Tax Act
Unemployment is a significant issue in every country. Section 80JJAA was enacted to increase employment and encourage individuals. Section 80JJAA allows you to claim…
Miscellaneous
Glimpse on the Benefits of Insurance Policy
Insurance is the most effective risk management tool that can protect individuals and businesses from financial risks arising from various unforeseen events. Emotional and…
Startup/ Registration
Start-up vs. Job – Question that doesn’t find the right answer
When comparing corporate and startup jobs, it is observed that both have their unique advantages and disadvantages. Startups are popular among freshers and even…
Miscellaneous
What Happens If I Don’t Pay the Health Insurance Premium?
Health insurance is a contract between a policyholder and an insurance provider where the insured agrees to pay premiums on time and in return…
Compliance
Foreign Currency Gross Provisional Return (FC-GPR)
When a company receives FDI through equity investment, the company allots shares to the foreign investor and there is a basic reporting requirement with…
FEMA
RBI: Foreign Exchange Management (Overseas Investment) Regulations, 2022
The Foreign Exchange Management (Overseas Investment) Regulations, 2022 were notified by The Reserve Bank of India on 2 August 2022. Under the new regulations,…
Miscellaneous
How Much Energy Goes into Bitcoin Mining?
Since transactions are verified and added to the blockchain, a digital ledger, through the process of bitcoin mining, it is crucial to understand this…
Miscellaneous
How does Bitcoin Impacts Society?
Since Satoshi Nakamoto first unveiled Bitcoin, this digital money has had a significant impact on culture. Some people claim that Bitcoin is a substantial…
Compliance
DIR-3 KYC on MCA V-3 Portal – FAQs
A Director Identification Number (DIN) is a unique identification number assigned to a person who wishes to become or is already a corporation director.…
Income Tax
New Cryptocurrency Tax Rules in India: Everything You Need To Know
In India, does crypto currency have to be taxed? Do you want to know how the Indian Income Tax Department (ITD) feels about Bitcoin…
Digital Banking
RBI’s New Digital Lending Guidelines
Reserve Bank of India (RBI) has announced guidelines for digital loans. The central bank has given regulated entities (REs) until November 30 to put…
GST
Inter head transfer for Tax paid under GST – Form GST PMT-09
To allow a registered taxpayer to transfer any amount of tax, interest, penalties, etc. that is accessible in the electronic cash ledger to the…
Finance Company
Is Bitcoin Mining Illegal?: Legality of Mining of Bitcoin
Bitcoin mining is an important aspect of the cryptocurrency’s underlying technology since it is how transactions are confirmed and added to the blockchain, a…
Latest News
A Quick Overview of SEBI’s Settlement Scheme, 2022
The Securities Exchange Board of India recently issued the SEBI Settlement Scheme 2022 in a public notification dated August 19, 2022. SEBI’s Settlement Scheme…
SEBI Registration
Regulation 32 of SEBI LODR, Regulations, 2015 – A Detailed Analysis
Regulation 32 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (SEBI LODR, Regulations, 2015) requires every Listed Entity to submit a Statement…
Digital Banking
All you need to know about Regulations of Investment Advisors in India
In India, one must register with SEBI as a Registered Investment Adviser (RIA) to provide investment advice. Once registered, they must behave in a…
Company Law
Applicability of Section 62(1) of the Companies Act, 2013
If the company needs additional capital and keeps the voting rights of existing shareholders proportionally balanced, the company will issue Rights shares. The issue…
FEMA
Overseas Investment Rules under FEMA, 1999
The Ministry of Finance (MoF), the Government of India, and the Reserve Bank of India (RBI) have notified the Foreign Exchange Management Overseas Investment…
GST
Changes in GSTR-3B w.e.f 01.09.2022 -Simplified
You must be conscious of a crucial update as you get ready to file GSTR-3B in August 2022. Table 4 of the form, as…
Company Law
Modes of issue of securities under the Companies Act, 2013
Section 23 of the Companies Act, 2013 (“CA, 2013”) sets out how a public company or a private company “may” issue securities. It should…
Compliance
Have a glance at the Due Dates for Filing the ROC Annual Return for FY 2021-22
The ROC i.e. Registrar of Companies requires all companies registered in India to file certain forms every year. Regardless of their structure, businesses in…
Compliance
20 checklist points for Company Audits Finalization
The Ministry of Corporate Affairs (MCA) has introduced amendments in Schedule III to the Companies Act, 2013 vide its notification G.S.R. 207(E) dated 24…
GST
Judicial pronouncement under section 126 of CGST Act, 2017
The experts at Legal Window have replicated the part and a recent judicial decision in this article. The latest judicial pronouncements mostly addressed E-way…
Company Law
Concept of Corporate Governance in India
Corporate governance is a set of rules or concepts used to run a business. It makes sure that the business operates as it should…
Compliance
Legal Compliances of Fixed Assets Management
A fixed asset is an asset, often but not exclusively a physical asset, that is purchased for long-term use and is unlikely to be…
Miscellaneous
Service Tax in Affiliation Fee and Rent levied by Universities
Do you know, that the Hon’ble High Court, Karnataka in the case of the M/s Rajiv Gandhi University of Health Science vs. Principal Additional…
Miscellaneous
FAQs on Resolution Framework for Covid-19 Related Stress
On August 7, the RBI announced the creation of an expert committee with KV Kamath as its chairman, with the mission of recommending the…