Procedure of Incorporation of Section 8 Company under Companies Act, 2013 In India, a non-profit organisation can be registered as Trust by executing a Trust deed or as a Society under the Registrar of Societies, or as a private limited non profit company under Section 8 Company under the Companies Act, 2013. A Section 8 Company […]
Conversion of Loan into Equity Share Capital as per provision of Companies Act, 2013 Conversion of loan into equity share capital is most reliable mode to raise capital without immediate investments. In order to carry out smooth business, at times, debt is converted into share capital. The Companies Act, 2013 has come up with new […]
Merely the payment of investigation charges to the chartered accountant firm was made by the bank on behalf of the assessee did not mean that the transaction was covered under the provisions of section 194A read with section 2(28A). As such the assessee was liable to deduct the TDS under section 194J and thus, assessee was not eligible for deduction for the expenses due to non-deduction of TDS.
What decisions were taken in the GST Council Meet held on 24th February?This meeting was primarily in relation to the real Estate Sector. To boost the residential segment of the real estate sector, certain recommendations were made in GST rate, applicability, exemption, etc.
CASHFLOW AND PROFIT / LOSS REPORT ANALYSIS: TOP REPORTS THAT MANAGEMENT MUST SEE. Many Companies in India use Tally as a software for their Accounts Requirement, wherein daily entries and records are updates about the sales, purchase and bank entries are updated. However, this tally helps us in analysing the financials and the loopholes of […]
COMMENCEMENT OF BUSINESS CERTIFICATE The Ministry of Corporate Affairs has re-introduced the concept of commencement of business certificate. Under the newly introduced The Companies (Amendment) Ordinance 2018, all companies registered in India after the commencement of the Companies (Amendment) Ordinance, 2018 and having a share capital is required to obtain commencement of business (COB) certificate […]
What is Shop & Establishment Registration The Shop and Establishment Act registration regulates hours of work, payment of wages, leave, holidays, terms of service and other conditions of work of persons employed in shops, commercial establishments, establishments for public entertainment or amusement and other establishments and to provide for certain matters connected therewith. This registration is […]
Income from purchase and sale of shares was liable to be taxed under the capital gain instead of income under the head business and profession as the frequency, magnitude of transaction in a systematic manner could not be the criteria to hold that assessee was engaged in the business activity of shares.
Everyday certain changes are being made by the Ministry, and new notification and forms are issued. As a professional, we are required to be updated about the same. So here’s a checklist which will help in keeping a track of upcoming forms and filings and requirements thereof. Happy filing guys!! Sr. No. Name of Form […]
The objective of composition scheme is to bring simplicity and to reduce the compliance cost for small taxpayers. The taxpayers having an aggregate turnover not more than Rs. 1 Crore (Rs. 75 Lakhs in Special Category Notified States) is eligible to opt for composition scheme.
