Now incorporation of company is chipper and first track mode through Simplified Proforma for Incorporating Company Electronically ( SPICe) As per MCA notification dated 29th December, 2016, Ministry of Corporate affair of India amended the incorporation rule and introduce new incorporation procedure called Simplified Performa for Incorporating Company Electronically ( SPICe). Rule 38 has now […]
Everything you need to know about ITR-1 form: the simplest income tax form for individuals with up to Rs. 50 lakhs income. File online or offline.
Ministry of Labour and Employment reduce in the rate of EPF Administrative charges from .65% to .50% which is effect from 1st June, 2018. As per EPFO: “The total collection of administrative charges in 2017-18 is estimated at Rs 3,760 crore. A decrease of administrative charges by 0.15% would lead to reduction in collection of […]
OUTCOME OF 27TH GST COUNCIL MEETING HELD ON 4TH MAY, 2018 GST Council today in its 27th meeting approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification. The key elements of the new return design are as follows. 1. Composition dealers and dealers having nil […]
Simple steps to change/edit Email and Mobile Number of Authorized Signatory in GST Portal (For proprietorship): Step 1 Login to GST portal i.e. https://services.gst.gov.in/services/login with your existing user id and password. Step 2 Click on the registration Tab and select the Application for Amendment of Non-Core fields in Registration Particulars (For all types of registered persons). […]
Below changes / Provisions are applicable for Financial Year 2018-19 (Assessment Year 2019-20) 1. Tax Exemption limit is Rs. 2,50,000/- for non Senior citizens. After that, up to 5 Lakh, Tax rate is 5%. Tax Rate of 5% is applicable from Financial Year 2017-18 and also applicable for Financial Year 2018-19. Tax Rate for Individual/HUF/AOP/BOI […]
If the hotel operates a bar or serves alcohol in the restaurants, a Bar license will be required from the relevant authorities. Bar license is usually provided by departments operating under the State Government. Hence, the requirement for bar license varies from state to state.
Profession Tax is a tax levied on a person engaged in any profession, trade, calling and employment in West Bengal. The West Bengal State Legislature enacted the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979
*The company shall h0ld its first board meeting within 30 days of its incorporation 1. APPOINTMENT OF STATUTORY AUDITOR Pursuant to section 139(6) (1) the first auditor of the company, (who is Chartered Accountant), other than a Government company, shall be appointed by the Board of Directors within thirty days (30 days) from the date […]
Corporate Tax of 25% extended to companies with turnover up to Rs 250 cr in financial year 2016-17 No Change In Tax Slabs For Individuals. 100% deduction of income for Producer Companies. Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers
