Budget 2022- Key Points Related to Direct & Indirect Taxes
Budget 2022- Key Points Related to Direct & Indirect Taxes: The budget 2022 is highly focused on the sectors like digital technology, Infrastructure, health, and education. There are no changes made in the slab of income tax and rates of GST which was expected by many. However, a tax of 30% is introduced on the […]
Incorporation of Private Limited Company
Incorporation of Private Limited Company: Understanding the Legal Requirements Incorporation of Private Limited Company: Company means a legal entity established or formed by the group of individuals for the purpose of running business in a systematic and organized way. Ministry of corporate affairs has the authority to approve the registration and to provide the incorporation […]
Advance Tax & Interest U/S 23B
Understanding Advance Tax & Interest U/S 23B: Key Insights for Timely Tax Planning What is Advance Tax? Advance Tax & Interest U/S 23B: Advance Tax means paying the tax dues on the dates given by the income tax department. It will be applicable if the taxpayer is liable to pay a tax of Rs […]
Levy Of Interset On Inadmissible ITC in GST
Understanding the Levy of Interest on Inadmissible (ITC) in GST Levy Of Interset On Inadmissible ITC in GST: Almost every taxpayer at some point has taken excess input tax credit in GST filling and as it was a disputable topic till now there was no interest liability as per experts but now CBIC has clarified all […]
Annual Information Statement
Understanding the Annual Information Statement: A Detailed Guide Annual Information Statement: The AIS is basically a tool in an income tax portal that provides comprehensive information about the income received and transactions carried out by the taxpayer in a particular financial year from various sources. This information is available in the annual information statement or […]
Audits of Companies
Audits of Companies: Uncovering Insights for Success Audits of Companies: In this article/blog, An audit refers to an examination of the financial statements of a company it’s provide confidence to investors and other stakeholders that company’s financial reports are accurate. It is mandatory for all the companies registered in India to maintain books of accounts […]
HIGHER ADDITIONAL FEES IN MCA FORMS FILLINGS
HIGHER ADDITIONAL FEES IN MCA FORMS FILLINGS: The Ministry of corporate affairs has issued the notification dated 11-01-2022 in which they have amended the company’s (registration offices and fees) rules 2014. These rules may be called the companies (registration offices and fees) rules 2022. And will be Effective From 1st July-2022. In this notification applicability […]
CANCELLATION & REVOCATION OF GST REGISTRATION
Cancellation & Revocation of GST Registration: Important Procedures Cancellation of GST Registration CANCELLATION & REVOCATION OF GST REGISTRATION: The GST Registration is mandatory to every person/business with an annual turnover of 20 lakhs or more and the person making inter-state transaction of taxable goods/service however the person who is already registered can opt for […]
GST Applicable on Sale of OLD Vehicles
GST Applicable on Sale of OLD Vehicles: Understanding the Tax Implications GST Applicable on Sale of OLD Vehicles: Since Registration of GST, there were confusion regarding rate of GST applicable on supply of motor vehicles. Sale of used and old vehicles were taxed at the same rate as applicable on new vehicles which was 28% […]
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 […]