Register On TRACES (TDS) Website
July 23, 2019
Register On TRACES (TDS) Website TDS (Tax Deduction at Source) was initiated with the aim to collect tax from the very source itself. According to this concept, any person or company making a payment that exceeds a certain threshold limit must deduct the prescribed tax amount from the source before making the payment. The rate […]
Non-Banking Financial Company (NBFC)
July 23, 2019
Non-Banking Financial Company (NBFC) NBFC’s are financial organisations that do not have full banking license but they provide financial services similar to that of banks.These companies are registered under Companies Act, 1956 and Companies Act,2013. NBFC’s provide financial services such as market brocking and acquisition of shares, bonds and debentures. The meaning of NBFC […]
One Person Company
July 23, 2019
One Person Company One Person Company is a single director company introduced for aspiring entrepreneurs. As the name suggests ‘One Person Company means a company which has only one member’ as defined in the Companies Act 2013. What is One Person Company? According to sub-section 62 of section 2 of the Companies Act, 2013 One […]
GST Registration For Service Providers
July 23, 2019
GST Registration For Service Providers The Indian tax system is the most complicated one in the world with the Centre, the States and the local bodies having powers to levy variety of taxes to earn revenue. Various kinds of taxes are collected at different levels like the direct taxes which affect the common man directly […]
What Is DIN?
July 23, 2019
What Is DIN? Director Identification Number (DIN) is a mandatory requirement for all existing and new directors (or proposed directors) of a company. A DIN is issued in accordance with the directions provided by the amendment to the Companies Act. It is an 8-digit Unique Identification Number allotted to all directors. It has lifetime validity. […]
Section 8 of Companies act, 2013 – Incorporation, Features and Advantages.
July 22, 2019
Section 8 of Companies act, 2013 – Incorporation, Features and Advantages Section 8 companies are established in India with the sole purpose of promoting commerce. Art, science, sports, education and research or any such company which is registered with a similar object. What is Section 8 Company? Companies that are established with a charitable purpose […]
Limited Liability Partnership in India
July 22, 2019
Limited Liability Partnership in India Limited liability Partnership(LLP) is a hybrid corporation that provides the benefit of a company and the flexibility of a partnership. This type of organisation has liability shield and tax pass flexibility. Similar to the partnership firm, LLP also has an LLP agreement which contains the rules and regulation of an […]
I.P. related Sanctions for MSME’s and Start-ups
July 22, 2019
I.P. related Sanctions for MSME’s and Start-ups The Indian government is focused on promoting IP rights and thus are providing a 10% rebate on the online filing of trademark application and 50 % fee reduction for MSME in trademark filing. Encouraging the start-ups by giving a 50% rebate on trademark filing fees. A trademark is […]
Income Tax Filing For Self-Employed
July 22, 2019
All income of the individual is grouped under the below provided five heads: 1. Income from Salary 2. Income from House Property 3. Profit and gain from Business or Profession 4. Capital Gain 5. Income from Other sources Who is considered as Self-Employed? Self-employed or independently employed refers to an individual who offers his or […]
Documents Required for GST Registration13
March 21, 2019
Documents Required for GST Registration What is GST Registration In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If […]
Documents Required for GST Registration12
March 21, 2019
Documents Required for GST Registration What is GST Registration In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If […]
Documents Required for GST Registration11
March 21, 2019
Documents Required for GST Registration What is GST Registration In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If […]
Documents Required for GST Registration10
March 21, 2019
Documents Required for GST Registration What is GST Registration In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If […]
Documents Required for GST Registration9
March 21, 2019
Documents Required for GST Registration What is GST Registration In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If […]
Documents Required for GST Registration8
March 21, 2019
Documents Required for GST Registration What is GST Registration In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory. If […]