General
How to Get Startup India Certificate
Step 1: Incorporate your Business You must first incorporate your business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership. You have to follow all the normal procedures for registration of any business like ...
Features of Private Limited Company in India?
Introduction A private limited company is a company which is owned by non-governmental organizations or a relatively small number of shareholders or members of a company. Usually, a private company does not offer or trade its shares to the general ...
All about Anand Rathi's Wealth
Anand Rathi Wealth IPO might hit the market on December 02, 2021, and close on December 06, 2021. Anand Rathi Wealth IPO to raise around ₹660 crores via IPO that comprises the new issue of ₹- crores and offer for sale up to 12,000,000 equity shares ...
Tega Industries Limited Initial Public Offering
On Friday, Tega Industries, manufacturer of consumables for the mining industry, said it had fixed a price band of Rs 443-453 a share for its Rs 619-crore initial share sale. The three-day initial public offering (IPO) will open on December 1 and ...
DTAA Agreement between Canada & India
I. Scope of the Agreement Article 1 - Personal Scope This Agreement shall apply to persons who are residents of one or both of the Contracting States. Article 2 - Taxes Covered 1. This Agreement shall apply to taxes on income and on capital imposed ...
Prudent Corporate Advisory IPO Details
Let's have a detailed review of the Company and analytics of the Prudent Corporate Advisory IPO release date, IPO offer price, subscription, Prudent Corporate Advisory Services IPO allotment, grey market price, and other details like the Company's ...
Can we Revise a Tax Audit Report in India?
Tax audit is a cross-examination of the books of accounts of the taxpayer by a practicing Chartered Accountant under the Income Tax Act 1961. Section 44AB deals with the conditions under which Tax audit becomes mandatory for some taxpayers. The ...
What happens when TDS is not deposited by deductor?
All employers must deduct tax at source or TDS from their employees’ salary and deposit the TDS with the income tax department through their Tax Account Number (TAN). Further, all employers should file TDS returns of the salary payments. However, ...
Benefits of registering a Private Limited Company in India
Before starting a business it is important to decide the objectives of the company, the business structure, and the operations based on which the company has been chosen. The private limited company is a privately held entity and is preferred by most ...
Private Limited Company Registration in India
A private limited company in India is governed under the Ministry of corporate affairs (MCA). Registering a company is easy through IndiaFilings, as it is done completely online. To register a company in India a minimum of two people are required to ...
Rakesh Jhunjhunwala's Star Health IPO
Star Health IPO: Ace investor Rakesh Jhunjhunwala-backed company Star Health and Allied Insurance Company will float their initial public offer or IPO on November 30, next week. The maiden public offer for Star Health will close after a three-day ...
Consequences of TDS deducted but not deposited by deductor
Tax Deducted at Source (TDS) is an indirect method of collecting Income Tax. Payer has to deduct tax at source and deposit TDS online with the Income Tax Department within a specified due date and file TDS Return. If TDS is deducted but not deposited ...
Regulation of Crypto Currency in India
Thanks to the advertisements, cryptocurrency is a household word these days, especially during the T20 World Cup this year. I am sure most millennials would have heard about it, and most boomers might be confusing understanding it. According to one ...
MedPlus Health Services IPO – Company Overview
Let’s have a detailed review of the Company and analytics of the MedPlus Health Services IPO release date, IPO offer price, subscription, MedPlus Health Services Limited IPO allotment, grey market price, and other details like the Company’s ...
The Revision of Tax Audit Reports
Tax audit is a cross-examination of the books of accounts of the taxpayer by a practicing Chartered Accountant under the Income Tax Act 1961. Section 44AB deals with the conditions under which Tax audit becomes mandatory for some taxpayers. The ...
SALES, TURNOVER & GROSS RECEIPTS UNDER AUDIT
TURNOVER The initial test is to see if the total sales, turnover or gross receipts in business or profession during the previous year, as the case may be exceed the prescribed limit under section 44AB. However, the term “sales”, “turnover” or “gross ...
TDS Challan Correction Procedure – Offline , Online in Traces
Now that you have paid tax deducted to the account of the Central Government, what if there is any inadvertent mistake while making payment, such as choosing the wrong assessment year, choosing an incorrect primary head code, entering the wrong ...
What is Road Tax & Toll Tax in India?
All state and national highways in India belong to the government, and road tax is applicable to all those who use them. The taxes collected are used to maintain the roads so that drivers and riders have no issues on the road. In India, every highway ...
Roles & Responsibilities of Virtual CEO
Virtual CEO is not a new term anymore. It is heard and even searched to a great extent by various small, medium and even large organization. Contractual hiring has been gaining momentum as organizations brace themselves for the new normal which was ...
Venture Funding Stages in India
Venture funding is a funding process in which the venture funding companies manage the funds of the investors who want to invest in new businesses which have the potential for high growth in future. The venture capital funding firms provide the funds ...
How To Dissolve a Partnership Firm
How To Dissolve a Partnership Firm Dissolving a partnership firm means discontinuing the business under the name of the said partnership firm. In this case, all liabilities are finally settled by Dissolve a Partnership Firm selling off assets or ...
Benami Property Act: Practical Analysis of the Act
The amendment in 2016 of the original Benami Act created a sudden storm in the nation, bringing about a lot of curiosity in people. Many people are worried about the impact of the Act on their property and its possible outcomes. In this article, we ...
Procedure for online correction of Form 26QB for TDS on Property
Form 26QB is a consolidated form that must file for the deposit of TDS on Property. This form is required to be filed within 30 days from the end of the month in which the payment for the purchase of property has been made. Earlier, there was no ...
INC 20A – Declaration for the Commencement of Business
INC 20A is a declaration that needs to be filed by the directors of the company at the time of the commencement of the business. It should be verified by a Chartered Accountant (CA) or Company Secretary (CS) or a Cost Accountant in practice. ...
New TCS Provision under Section 206C
A new section 206C (1H) was introduced by Finance Act 2020 to extend the TCS provisions to the seller of goods. As per this provision, a seller must deduct tax at the source on the sale of goods if the aggregate value of such sale exceeds Rs.50 lakh ...
Sole Proprietorship Registration Procedure & Advantages
Sole Proprietorship Registration Procedure & Advantages A Sole Proprietorship form of business organization is where a business is managed by a single person. Generally, it does not require any registration as such. Any individual who wants to start ...
Guide for Uploading TDS Returns on the New Income Tax Portal
Sometimes navigating and uploading a TDS return on the TRACES portal can be difficult for some of the taxpayers. Complying with the data procedure too has been found tedious by many. Therefore, to ease the process the income tax department has ...
Section - 194A TDS on Interest other than Interest on Securities
Section 194A deals with deduction of TDS on interest other than interest on securities like Interest on Fixed Deposits, Interest on Loans and Advances other than banks. CBDT issued a circular on 25th June 21 extending some timelines for AY 21-22 (i) ...
Section 194E TDS Payments to NR Sportsmen
India’s love for cricket can’t be defined by a single ‘word’. Whenever there is any cricket match involving the Indian team or IPL, the madness is visible. But have you ever wondered how many foreign players like Angelo Mathews, David Warner, etc., ...
Section-8 Company Incorporation & Compliances
Check out details with the procedure for registration of section 8 with companies Act, 2013 The primary purpose of registering a company as a Section 8 Company is to promote non-profit objectives such as trade, commerce, arts, charity, education, ...
What are the Requirements for registering an LLP?
LLP Registration in India has become an alternative form of business that provides the advantages of a Company and the flexibility of a Partnership firm into a single organization. The Concept of LLP in India was introduced back in 2008 by the ...
One Person Company and Its Features
What is an OPC? One Person Company in India is a new concept that has been introduced with the Company's Act 2013. One Person Company in India is incorporated by a single person. Before the enforcement of the Companies Act 2013 a single person was ...
What is a Sole Proprietorship Firm and How to Register?
What is a sole proprietorship? Proprietorship in India is a type of unregistered business entity that is owned, managed, and controlled by one person. The micro and small businesses that are operating in the unorganized sector prefer registering as a ...
What is Section 194D and Section 194DA
Similar to tax deductions done at various income sources such as salary, interest income, and house rent, tax deductions at source (TDS) is also required to be done on insurance commission and life insurance premium payments. Section 194D and ...
Section 194J-Fees for Professional or Technical Services
The deduction of tax at source or TDS has been beneficial in collecting taxes in the country by targeting the source of income itself. It also eases the taxpayer’s tax burden when it is time to file their income tax returns. That is because they get ...
Section 194H-TDS on Commission and Brokerage
Section 194H is for income tax deducted on any income by way of commission or brokerage, by any person responsible for paying to a resident. Individuals and Hindu Undivided Family who were covered under section 44AB are also required to deduct TDS. ...
Section 195 – TDS on Non-Residents
As per the Income Tax Act, 1961, any earnings generated through business transactions with NRIs come under the purview Income Tax Act and are subject to the TDS rate under Section 195. To understand this provision better, entities need to gather more ...
Section 194IB & 194IC under Income tax Act
Section 194IB of the Income-tax Act deals with the tax deducted at source on payment of rent. Section 194IC was introduced to bring the ‘Joint development agreement’ of real estate under the preview of TDS. An agreement between the owner of the asset ...
Section 194P- Exemption for ITR filing for senior citizen
To provide significant relief to the senior citizens aged 75 or above from IT filing, Ministry has introduced Section 194P in the Income-Tax Act, 1961 via the Finance Act 2021. New Section 194P is applicable from the 1st day of April 2021. They can ...
Section 194K-Tax Deduction on Income from Mutual Fund Units
FM Nirmala Sitharaman proposed the addition of Section 194K in the Finance Act during the Budget 2020. This section includes a tax deduction on the amount paid on the units of mutual funds, without a limit, to any resident individual. Let’s discuss ...
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