GST
Section 62 of CGST- Assessment of Non-Filers of Return
Section 62 of Central Goods and Service Tax Act,2017, come into effect when a taxable person fails to file returns, as per requirements under…
GST
How to get GST (Goods and Services Tax) Registration in Delhi?
The tax taken on most of the goods and services sold for domestic use is GST (Good and Services Tax). This tax was introduced…
Compliance
Ordinary Business & Special Business – Companies Act, 2013
The executive board makes decisions and determines actions on behalf of a company in the corporate world. But how will this function in…
GST
GSTIN – Meaning, Structure and How to apply and applicable Fees
Every GST taxpayer is assigned a 15-digit identifying number known as the Goods and Services Tax Identification Number (GSTIN). Prior to the implementation of…
Miscellaneous
Draft Format of Directors Report: Small Company 2022
All the registered companies are required to hold annual general meetings and file the company’s annual return with the ministry of corporate affairs. Undoubtedly…
GST
Shocking Impact of GST on Public Trusts (Charitable and Religious Trusts)
The impact of GST on Public Trusts has increased the tensions of corrupted organizations that played with the hearts of people by breaking their…
Change in Business
Dissolution of Partnership firms in India and its method
A partnership firm is a business entity and is set up for the sole purpose of profiting from business. Two or more people form…
Change in Business
Closure of the Companies under the Companies Act, 2013
With the expansion of trade across borders, the method and protocol of company formation have indeed been uniform and streamline. However, with a rising…
Compliance
Annual ROC filings- Form wise Due Dates and applicable Sections
It is necessary for all companies to furnish their annual accounts and file their annual returns as per the Companies Act, 2013. However, all the…
Startup/ Registration
Setting up of business in Rajasthan-The land of dreams
In India, youth folk’s entrepreneurship desires seem to be on the upswing. The main factor about this is that there are currently several more…
Startup/ Registration
All about Start-Up India Fund Scheme (SISFS)
India is on a mission to build a robust start-up ecosystem. This entire blog will be focused on one of the start-up schemes that…
Compliance
Procedure to Convert Section 8 Company into a Private Limited Company
The notion of non-profit corporations is present under Section 8 of the Companies Act, 2013. Non-Profit Corporations are not a new concept in our…
Miscellaneous
Taxation of E-Commerce Transactions in Income Tax & GST
E-commerce has developed dramatically in India, as more people purchase and sell products online as a result of cell phones and internet access. Previously,…
Income Tax
Income Tax Rates for FY 2021-22 & FY 2022-23 & AY 2022-23 & 2023-24
According to the Income Tax Act, 1961 of India, Income Tax is levied on all individuals, HUFs, partnership businesses, LLPs, and companies. Individuals are taxed…
Income Tax
Direct Taxes and the Constitution of India – India’s Taxation Provisions
The taxation system is the backbone of a country’s economy, ensuring that revenue is stable, management of economic development and that industrial activity is…
Company Law
Oppression & Mismanagement of Companies Act 2013 – | Section 241-246 |
The principle of majority rule is at the heart of corporate democracy. The principle of majority originated with the rule of Foss v Harbottle,…
Miscellaneous
Role of Working Capital Adjustments in Transfer Pricing
Working capital is an accounting phrase that you may not hear much about, but it could be the key to your company’s success. Working…
Company Law
Regulatory Framework of Issue of Shares and Securities to Foreigners
Foreign Investment Policy regulates direct foreign investment in a country’s production or business by a person or firm from another country. For developing countries…
Compliance
Process for Change of Registered Office from One State to Another
Within 30 days of its incorporation, a corporation must have a registered office. In the Memorandum of Association (MOA) and Articles of Association, the…
Compliance
All about CSR Reporting- CSR-2 as “A New Beginning”
We live in a dynamic world that is becoming complex. Environmental, social, cultural, and economic challenges on a global scale have now become a…
Miscellaneous
Doctrine of Corporate Veil and Lifting of Corporate Veil
The notion of a company’s independent legal personality is the one that serves as the foundation and a fundamental principle of corporate law in…
Compliance
Modes of Winding Up of a Company as per Companies Act
Section 361 of the Companies Act, 2013 specifies a short process for the dissolution of corporations. The Central Government appoints an Official Liquidator to…
Compliance
Annual Return on Foreign Liabilities & Assets (FLA Return) Under FEMA
All business organizations that already gain Foreign Direct Investment (FDI) or undertaken International Capital overseas with in preceding year along with the existing year…
Compliance
Board of Directors Report under Companies Act 2013- Contents of Report
Financial reporting is required for businesses since it offers information on a company’s current state as well as its compliance with financial, corporate social…
Compliance
Resignation of Director under Companies Act 2013
A director may resign from his office by giving written notice to the Company, and upon receipt of such notice, the Board shall take…
Compliance
Must Known Facts of Form INC-20A “Declaration for Commencement of Business”
The Companies (Amendment) Ordinance 2018 requires all companies registered on or after November 2, 2018, to file a certificate of the beginning of the…
Miscellaneous
Loans to Directors under Section 185 Companies Act, 2013
Public firms have permission to provide loans, guarantees, and securities under the Companies Act, 1956. They can do so as long as they acquired prior…
Compliance
Form to be filed to ROC in case of Rights Issue – Procedure and key Goals
Additional capital shares are issued through Right Issue to raise subscribed share capital of a registered company. Instead of offering shares to the general…
Compliance
15 businesses at Shareholders Meeting which can be transacted
The purpose of an Annual General Meeting (AGM) is for the company’s management and shareholders to engage. The Companies Act, 2013 mandates the holding of…
Compliance
An Analysis of Input Tax Credit concept under GST
When you acquire a product or service from a dealer, you must pay sales taxes. You collect this tax when you sell. You adjust the…
Miscellaneous
Grant Received by Subsidiary from its Holding – Is it a Revenue Receipt?
When a bigger firm buys at least 50% of a company’s stock, the small company becomes a subsidiary to it. When the main…
Miscellaneous
Formations of Charitable Entities in Jaipur
In India, trusts established for charitable purposes and certified by the Income Tax Department are not only exempt from paying taxes, but contributors to…
Income Tax
Taxation on Political Parties -Representation of People Act, 1951
The Representation of the People Act, 1951 governs political groups in India (RPA). A certain organization of Citizens as well as group of particular…
Miscellaneous
How Will ‘Russia’s Invasion of Ukraine’ Affect Taxes & Trade in India?
While the European Union, NATO, the United Kingdom, and the United States have announced stringent trade restrictions; and sanctions against Russia, our Hon’ble…
Finance Company
What is FCNR? Is FCNR a Good Investment Option for NRIs?
Over the last two decades, India has undergone tremendous industrial progress. As a result, foreign direct investment is increasing in the country (FDI). This…
Income Tax
Rate of Depreciation on Computer Accessories and Peripherals
Do you own a computer? Do you use it for your personal use or for business purposes? Yes, if you own a computer, you…
Trademark Registration/IPR
What is the Procedure of Trademark registration in Jaipur?
Introduction Most business owners are aware that trade marking is a vital initial step in beginning a company, but how much do you know…
Income Tax
What is Income and Different Sources of Income?
Money isn’t everything; however, it is a critical component in the life of an individual. Money helps us reach our life’s ambitions and supports…
Finance Company
Gain or loss on Foreign Exchange Fluctuation
The rate of change of the value of the currency in a country is usual event that takes place due to floating exchange rates;…
Miscellaneous
PAN and TAN – Meaning and Difference Between PAN and TAN
When filing your ITR return or contacting the Income Tax Department, you may come across the phrases PAN and TAN. Understanding these words ahead of…
Income Tax
Taxation Aspects of Income of Deceased Person
Did you realize that the estates of the deceased might be taxed? It may sound strange that a deceased person’s income tax returns must…
Income Tax
Penalties under the Income Tax Act and Various Income Tax Offences
The timely and regular payment of taxes and submission of returns guarantees that the government has funds available for public welfare at all times.…
GST
Effective Goods and Services Tax (GST) Rates in India
By introducing uniformity and openness to the Indian tax system, the GST (Goods and Services Tax) has transformed the outlook of the Indian tax…
Compliance
Issue of Privately Placed Non-Convertible Debentures by Unlisted NBFCs
Funding is essential for a company to not only invest and expand but also to run its day-to-day operations. When a firm needs to…
Income Tax
All about TDS (Tax Deducted at Source) and TDS Filing, Returns & Rate
TDS was created with the goal of collecting tax directly from the source of revenue. According to this notion, a person (deductor) who is…
Latest News
New Scheme of Taxation under Section 115BAC of Income Tax Act, 1961
A new tax planning comes into force by inserting a new section in Income Tax Act, 1961, which is known as Section 115BAC of…
Latest News
The Limited Liability Partnership (Amendment) Rules, 2022
The Limited Liability Partnership (Amendment) Rules, 2022 have been published by the government. Further, Rules 5, 18, 19, and 37 have been amended. Moreover,…
Income Tax
Benefits of Filing Income Tax Return on Time and its Importance
Are you in a confusing state and not able to make up your mind, whether to file ITR, Or did you hear elsewhere that…
Miscellaneous
What is PAN Card Importance and use? How to apply for PAN in India?
You’ll need one thing for each of these activities, whether you’re trying to buy a car or a house, participate in the stock market,…
FEMA
Foreign Direct Investment -Current Situation on FDI Policies in India
Foreign Direct Investment (FDI) seems to have been a significant non-debt financial resource towards India’s national economy, especially in addition to being such a…
Income Tax
TDS Implication on Reimbursement of Employees salary in Companies
Some employees on the payroll of group firms (including management and non-management cadre) work for the Parent company. We can recover the cost of…
Miscellaneous
All about Legal Entity Identifier Number and the Procedure to obtain it
The Reserve Bank of India will process in the Legal Entity Identifier (LEI) system for all investors in the currency financial derivatives, foreign exchange…
Income Tax
Claim Deduction for Rent Paid Under Section 80GG
The Internal Revenue Service has given taxpayers with a number of Claim Deduction for Rent Paid Under Section 80GG of Income Tax Act by…
Trademark Registration/IPR
Do Book Titles come under Trademark or Copyright?
Introduction In today’s society, Trademark infringement is widespread. People in all walks are adopting a Trademark that is deceptively similar to somebody else’s trademark.…
Income Tax
What do you mean by Annual Information Statement?
All About the Annual Information Statement (AIS) – Income Tax Department initiates a new function and makes an update in Form 26AS, this update…
Income Tax
Provision under Set Off and Carry Forward of Losses and their principle
The two sides of a coin are profit and loss. Losses, of course, are difficult to accept. However, the Income-tax law in India does…
Startup/ Registration
Process of getting Cosmetic Manufacturing Licence in Rajasthan
In the current climate, the cosmetics industry is not only thriving in India, but it is also predicted to grow in the next five…
Miscellaneous
Whether Depreciation on acquired Goodwill Allowable?
Union Budget of 2021 amends the Income Tax Act of 1961 (“Act”) to prohibit depreciation on an organization’s goodwill. The Income Tax Act prohibits…
Income Tax
Return Filling Process for Tax Audits under New Income Tax Portal
We agree that Return Filling Process for tax audits can sometimes be tough, particularly the cases since you are youth and have just received…
Income Tax
Section 80PA of Income Tax Act 1961, Inclusive of upgrades and Deduction
With effect from Assessment Year 2019-20, a new deduction under Section 80PA of Income Tax Act 1961 has been permitted to encourage producer enterprises to…
Startup/ Registration
Financial Elements to Understand for Startup Entrepreneurs
Financial Elements to Understand for Startup Entrepreneurs are some steps that need to be followed in today’s world for setting up any business venture…
Income Tax
Income Tax Return (ITR) – Impact of Delay in filing ITRs
The Government of India has established Income Tax laws governing the taxable income of all individuals who are individuals, HUFs, Companies, Firms, LLP, People’s…
GST
GST Implication on Poultry Farming
The poultry business produces countless work opportunities in the nation and is vital for the public economy. The poultry business is to a great…
Income Tax
A Detailed Summary of Income Tax Deduction on Donation
Introduction Plenty of us have considered donating to charity and helping the community at a certain stage in life. It is admirable to contribute…
Income Tax
What is Income Tax Search and Seizure all about?
Table of Contents Introduction Goals of Income Tax Search and Seizure Income Tax Raids Authority to conduct search and Seizure Power Rights of…
Income Tax
Income Tax Rate Applicable on Domestic Companies
Indian taxes are classified into two types: direct taxes and indirect taxes. When it comes to direct taxes, they are imposed on the revenue…
Compliance
Appointment of Auditor in Casual Vacancy in an OPC
A One Person Company (OPC) is a one-person company that is formed under the Companies Act of 2013 and is fully managed and controlled…
Income Tax
All about Dividend Income, Payment and Compliances
Dividend income, payment, and reporting have undergone significant changes in the previous and current fiscal years, with recipients facing increased taxation and reporting requirements.…
Miscellaneous
All you need to know about FC-GPR Filing
When a company receives foreign investment, the Reserve Bank of India (RBI) issues Form FC-GPR. As a result of such investment, the business could…
Latest News
Highlight towards The Union Budget of Fiscal year 2022-2023.
Nirmala Sitharaman” The Finance Minister of India displayed the fourth Budget of the Modi 2.0 government today (1st of February). The budget recommendations for…
Annual Compliance
Quarterly, Half Yearly & Annual Compliances under SEBI Listing Regulations
Annual Compliances under SEBI Listing Regulations are pathways or obligations which are issued by SEBI for the purpose of encouraging healthy business among the…
Startup/ Registration
How to Start a Private Limited Company in Jaisalmer?
A private limited company in India is represented under the Ministry of corporate issues (MCA). Registering a company is simple as it is done…
Section 8 Company
Registration of Section 8 Company for undertaking Corporate Social Responsibility (CSR) Activities
A company can be called as a Section 8 company that has gotten itself registered as NGO or charitable association and has gotten a…
Income Tax
Is Income tax return Filing Difficult in India?
Is Income Tax Return Filing Difficult in India? Before we actually proceed towards the question mentioned above, Firstly we should know about what is…
Finance Company
How to Register for Venture Capital funds under SEBI?
Venture capital (VC) is a type of private equity investment offered by Venture Capital Firms or funds to start-ups, early-stage, and rising businesses that…
Compliance
Handy Compliance for Overseas Direct Investment in India
Overseas Direct Investment (ODI) is a type of investment that is made outside the Indian Territory by Indian companies with foreign entities. It stands…
GST
What is the Impact of GST on Residential Properties?
GST, which has been carried out from 1st July, 2017 has worried the majority of citizens and business because of its compliance requisites. What…
Company Law
FAQs on Registering a One Person Company in India
Presented in India by the new Indian Companies Act of 2013, the One Person Company (OPC) is absolutely a welcome means for innovative or…
Miscellaneous
Taxpayers rights and obligations in India
Table of contents Taxpayers’ Charter: A guide for all taxpayers Section 119A of the Income Tax Act Rights of taxpayers Obligations of taxpayers Final…
Miscellaneous
FAQs about Import and Export Code (IEC) in India
Is there a separate code required for Import and Export? No different Code is needed for Import and export and a similar IEC can…
Agreement Drafting
All you need to know about the LLP Agreement
LLP (Limited Liability Partnership) is a business entity that provides the benefits of limited liability of the company to its members and allows to…
Income Tax
Importance of checking Form 26AS before filing Income Tax Return
Form 26AS is a consolidated tax credit statement containing all the details of different taxes that are deducted on income at source (TDS). The…
Company Law
Process of Extension of holding Annual General Meeting
Section 96 of the Companies Act, 2013 provides that each company other than a one person company will in every year hold an Annual…
Trademark Registration/IPR
All you need to know about Copyright of Sound Recording in India
The Indian Copyright Act, 1957 provides the provisions to grant the copyright of unique work. Copyright ensures musical, creative, artistic, emotional, architectural, cinematograph films,…
Startup/ Registration
How to start a Spice Business in Rajasthan?
As we probably are aware India is a significant maker and exporter of Spices. Additionally, it is perceived as a productive business in India.…
Latest News
Compliance calendar for January 2022
Due to the pandemic there are a large number of compliances under the Companies Act, 2013, (Act). The additional timelines have been provided by the…
Change in Business
Understanding Process of Closing a Company
Usually, we register a company with the idea of the business we wanted to do and for some reason, it does not work, we…
Startup/ Registration
Tax Exemptions Available For Startups in India
In 2016, the Prime Minister of India Shri Narendra Modi proclaimed the Startup India campaign to foster entrepreneurship in our country. The Start-up India…
Trademark Registration/IPR
How to Avoid Rejections of Trademark Registration?
Today, a large number of companies have begun to obtain trademark registration. Applying for a trademark before the completion of the registration process involves…
Startup/ Registration
Why Start-ups should choose LLP over the Partnership?
Introduction Despite being a relatively new development in the field of business, there has been a noticeable increase in the number of entrepreneurs opting…
GST
A Brief Overview on GST Scrutiny
Any business whose aggregate turnover exceeds INR 40 lakh (excluding Northern East area and Hill state which requires INR 10 lakh as year’s turnover)…
Latest News
SEBI (LODR) (Third Amendment) Regulations, 2021
Table of Contents Introduction Enhanced independence criteria for Independent Directors Timeline for obtaining Shareholder Approval for Each Director’s Appointment, including IDs Additional Information requirement…
GST
All you need to know about Non-filing of GST Returns
GSTR 3B is a Return that must be completed by a Regular GST Taxpayer. It includes a summary of the outward supplies made as…
Start and manage a business
How to check the Registration Status of Private Limited Company on MCA?
The Ministry of Corporate Affairs (MCA) is the government’s portal that contains the list and details about the Indian incorporated companies. The portal maintains…
GST
GST Implication On the Export of Goods & Services
The goal of the Indian government is to increase the production and quality of exports from India under the “Make in India” policy. The…
Startup/ Registration
A brief overview on registering a start up under DPIIT
The department for promotion of industry and internal trade was established in the year 1995 with an objective to promote and develop industrial activities.…
Company Law
Dormant Company: Procedure, Eligibility, Fees
Introduction Where a company is formed and enrolled for a future task or to hold a resource or intellectual property and has no critical…
GST
Health care services under GST Act
There is a saying that ‘Health is Wealth,’ which means that when a person maintains good health, everything else falls into place. Understanding the…
Miscellaneous
Legal Notice for Design Infringement in India
Design is an art which gives a visible form to the ideas of the mind or invention. Thus, an Industrial design rights are defined…
Miscellaneous
Legal Notice on Copyright Infringement in India
Copyright is a form of intellectual property that gives an exclusive right to the creator of literary, dramatic, musical work, computer program, artistic work,…