The requirement of Audit Committee as per sub section (1) of section (177) of the Companies Act, 2013 has been limited to 1. Every Listed Public Company. 2. The Following Class of Companies All public companies with a paid-up share capital of Rs. 10/- crores or more; or. All public companies having turnover of Rs. 100/- […]
It has almost been a decade that LLP Act came into existence. Those business owners who were forming Partnership before are now choosing LLP due to many benefits like a legal entity in the eyes of law, corporate structure and less compliance. Let us now understand how to incorporate an LLP? Applicable Forms RUN LLP: […]
Director is an employee of the Company. So often they wonder what is their personal liability. Here I list down few things which you should always keep in mind. Ensure that all the annual compliance is done: As you all would be aware, if directors do not get the annual compliance of Company done with […]
Sec 194K of the income tax act clearly states, that TDS is to be deducted by mutual fund companies only on the dividend payment made of mutual funds. No tax is required to be deducted in the case of capital gain arising on the transfer or sale of mutual fund units. section 194K explicitly provides […]
Everyone is looking out for ways to legally save taxes. Tax savings tips helps you plan your taxes effectively. Are you the one looking for ways and means to save taxes? I do understand it is complicated to understand taxes but here I share some awesome and easy tax saving tips. Investment in Life Insurance: […]
There has always been a confusion among people when they want to start a business. I should go for Proprietorship, Partnership, LLP or Company. You definitely ask your friends, family members and co colleagues. You are very serious about your new venture, you have already validated your idea, done the right market research, but selection […]
Do you know that if you have not filed your Income tax returns for three consecutive Financial years and you have withdrawn more than 20 lakh Rupees in the next financial year then TDS @ 2% would be deducted by the Bank? Yes, you heard it right. The new Finance Bill passed by the Lok […]
This is a question which is always in the mind of business owners. Whether there is any violation if my Company give loan to the director. Is there any penalty? Let me give you a detailed informed to solve your problem Can a company give loan to a director? Company (Private & Public whether small, […]
New GST returns postponed New GST Returns has been postponed to 01st October, 2020. Hence tax payers can continue with the old forms till the time new forms are launched. Interest on net GST liability Biggest amendment in GST that 18% interest rate on late payment of GST is now applicable on the next GST […]
Different Audit applicable to individuals, Companies and HUF. There are many tax compliances in India. Here I simplify the different audit applicable to entity and to whom. Tax audit: A tax payer having a turnover or gross receipts more than 1 Crore is liable for tax audit for that financial years. Please note that with […]
