What is OPC? Advantages, Procedure of One Person Company
What is OPC? Advantages, Procedure of One Person Company: An OPC is a company that has only one person as a member, the revolutionary concept of one person company has been introduced by Section 2(62) of the Companies Act, 2013. This concept of OPC was first recommended by the expert committee of Dr. JJ Irani […]
HOW TO GET RERA REGISTRATION NUMBER IN MAHARASHTRA?
HOW TO GET RERA REGISTRATION NUMBER IN MAHARASHTRA?: The RERA in India comes through Real Estate (Regulation and Development) Act, 2016. Which is passed by the Indian Parliament. One of the important reason for bringing RERA are to protect the interests of home buyers and also boost investments in the real estate sector. Under this […]
What is an Amendment in Real Estate
What is an Amendment in Real Estate: An amendment in real estate GST refers to a modification or change made to the Goods and Services Tax (GST) regulations related to real estate transactions. In the context of real estate, the GST amendment typically involves the revision of rules, rates, or exemptions applicable to the sale, […]
Limited Liability Partnership
What is Limited Liability Partnership? Limited Liability Partnership: Limited liability partnership or LLP is a partnership firm which is registered under LLP act 2008 with MCA It has been introduced in the year 2008 in India via Limited Liability Partnership Act, 2008. It is a partnership where the partners don’t have unlimited liabilities which means that […]
What is DIR-3 KYC? Form Filing, Document Required
What is DIR-3 KYC? What is DIR-3 KYC? Form Filing, Document Required: Any person wanting to be a director or an existing director of a company has a unique identification number (DIN). which is obtained by e form DIR-3. This is a one-time process for any person who wants to be a director in one […]
Types of GST – What is CGST, SGST and IGST?
What is GST? Types of GST – What is CGST, SGST and IGST?: The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. It is also known as GST. It is an indirect tax that is passed to replace or abolish many […]
What is Section 80EE and Section 24?
DEDUCTION UNDER SECTION 80EE What is Section 80EE and Section 24?: This section allowed the benefit of extra deduction to taxpayers over and above the deduction allowed in section 24 for interest paid against the loan borrowed for the acquisition of self-occupied property. SECTION 80EE ELIGIBILITY : An individual who has taken a loan from […]
Section 194N of Income Tax Act 1961
Understanding Section 194N of Income Tax Act 1961: A Detailed Overview Section 194N of Income Tax Act 1961: We should note that Section 194N is nothing but a TDS –Tax Deducted at source and the same is to be deducted on ‘Aggregate Withdrawal’ in a financial year. In simple terms, this section speaks about the deduction […]
What is Tax Audit
What Is Tax Audit and Why It Matters: Your Detailed Guide What is Tax Audit: A tax audit is an essential process conducted by tax authorities to examine and verify the accuracy and completeness of a taxpayer’s financial records and tax filings. It is a systematic review that aims to ensure compliance with the tax […]
Why GST Registration is Required
Why GST Registration is Required: The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services across the country. Any business entity involved in the supply of goods or services with an annual turnover exceeding the specified threshold is required to register for GST. The introduction of […]