Posted Date : 05-Oct-2024 , 03:46:47 pm | Posted By Ishita Ramani

The Memorandum of Association (MOA) is a key record that outlines the foundational structure of a business enterprise. It defines the connection between the agency, its shareholders, and the outside world. One of the most essential aspects of the MOA is the Clauses of Memorandum of Association, wh...

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Category : Income Tax | Comments : 0 | Hits : 35

Posted Date : 03-Oct-2024 , 03:53:43 pm | Posted By Ishita Ramani

Form 16A is an essential report issued by entities that deduct tax at source. It affords details of the tax deducted and submitted to the government on behalf of the payee. To protect the confidentiality of these records, Form 16A is regularly password-covered. Understanding the significance of the...

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Category : Income Tax | Comments : 0 | Hits : 567

Posted Date : 01-Oct-2024 , 01:32:34 pm | Posted By Ishita Ramani

A properly-drafted partnership deed is a cornerstone for any partnership business, as it governs the connection among partners and establishes clean terms for the enterprise's operations. One of the most critical components of a partnership deed is its function in making sure taxation and regulatory...

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Category : Income Tax | Comments : 0 | Hits : 365

Posted Date : 28-Sep-2024 , 06:29:23 pm | Posted By Ishita Ramani

The tax implications for holding and subsidiary companies may be complex and require careful planning to ensure compliance and optimize tax advantages. These business structures provide several benefits, but additionally, they come with unique tax responsibilities that organizations ought to be priv...

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Category : Income Tax | Comments : 0 | Hits : 224

Posted Date : 27-Sep-2024 , 03:59:07 pm | Posted By Ishita Ramani

The switch and transmission of shares are critical procedures within the lifecycle of a business enterprise, immediately impacting possession and control. The Board of Directors plays a pivotal role in handling those processes, making sure compliance with legal rules and safeguarding the pastimes ...

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Category : Income Tax | Comments : 0 | Hits : 277

Posted Date : 24-Sep-2024 , 03:07:44 pm | Posted By Ishita Ramani

Trademarks play a critical position in distinguishing items and offerings inside the market. Understanding the types of trademarks is important for agencies searching for to protect their brand identification. This article explores the unique kinds of trademarks, starting from conventional trademark...

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Category : Income Tax | Comments : 0 | Hits : 494

Posted Date : 21-Sep-2024 , 01:11:51 pm | Posted By Ishita Ramani

Society registration in India is ruled by the Societies Registration Act, 1860. A society is largely a group of people united to promote activities related to literature, technological know-how, charity, or similar goals. Registering a society offers prison reputation and shape, making sure better g...

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Category : Income Tax | Comments : 0 | Hits : 1077

Posted Date : 18-Sep-2024 , 05:32:08 pm | Posted By Ishita Ramani

In the world of business partnerships, a Partnership Deed stands as a fundamental file that can appreciably affect the fulfillment and stability of the partnership. Whether you're embarking on a new venture or coping with an established commercial enterprise, understanding the importance of Partners...

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Category : Income Tax | Comments : 0 | Hits : 2554

Posted Date : 14-Sep-2024 , 03:08:19 pm | Posted By Ishita Ramani

The courting among a retaining and subsidiary agency is a critical a part of company systems, especially in multinational operations. However, this connection brings precise compliance and regulatory demanding situations. Ensuring adherence to prison frameworks is important to retaining the smooth o...

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Category : Income Tax | Comments : 0 | Hits : 811

Posted Date : 14-Sep-2024 , 03:05:03 pm | Posted By ANUPAM KUMAR

As Chartered Accountants, we often encounter clients who struggle with the complexities of Employee Provident Fund (EPF) compliance. This article aims to provide a comprehensive guide on filing EPF nil returns, addressing non-compliance issues, and understanding the associated costs and professi...

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Category : Auditing | Comments : 0 | Hits : 937

Posted Date : 12-Sep-2024 , 04:51:19 pm | Posted By Ishita Ramani

Section 10AA of Income Tax Act, 1961, provides big tax blessings for corporations running inside Special Economic Zones (SEZs). The provision ambitions to reinforce export-orientated companies with the aid of providing giant tax exemptions on income derived from export sports.   However, to ...

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Category : Income Tax | Comments : 0 | Hits : 839

Posted Date : 10-Sep-2024 , 01:55:50 pm | Posted By Ishita Ramani

The government can collect taxes at the source of earnings by using the Tax Deducted at Source (TDS) system. Businesses responsible for filing TDS returns must file a Nil TDS Return even if no TDS is deducted in a certain zone. To maintain compliance with tax laws and prevent fines, filing this re...

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Category : Income Tax | Comments : 1 | Hits : 1107

Posted Date : 10-Sep-2024 , 08:31:30 am | Posted By S.Mahajan

Tax Deducted at Source (TDS) is a system where tax is deducted from income at the time it is generated, such as salaries, interest, rent, and professional fees. The payer deducts the tax and remits it to the government, ensuring a steady flow of revenue and reducing tax evasion. If the tax deducted...

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Category : TDS | Comments : 0 | Hits : 822

Posted Date : 06-Sep-2024 , 03:45:11 pm | Posted By Ishita Ramani

Businesses who engage in specific forms of trade and supply or exceed the established turnover threshold in India are required to comply with the Goods and Services Tax (GST). Getting a New GST Registration Number in the allotted time is a crucial step for organizations. If you don't, you fear serio...

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Category : GST | Comments : 0 | Hits : 796

Posted Date : 29-Aug-2024 , 05:12:44 pm | Posted By Ishita Ramani

The Goods and Services Tax (GST) in India has fundamentally altered the landscape of taxation, particularly for startups. While GST aimed to unify the tax structure across the country, the government has continuously refined the rules to improve compliance, reduce tax evasion, and simplify p...

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Category : GST | Comments : 0 | Hits : 1017

Posted Date : 28-Aug-2024 , 09:34:12 am | Posted By S.Mahajan

ITR refund: Tax refund usually takes four to five weeks to be deposited into your account. Taxpayers can check tax refund status on the income tax e-filing portal, incometax.gov.in. Tax refund usually takes four to five weeks to be deposited into your account. Check emails from the Income Tax dep...

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Category : Income Tax | Comments : 0 | Hits : 1017

Posted Date : 23-Aug-2024 , 07:53:00 am | Posted By S.Mahajan

After an income tax return (I-T return) has been filed, the tax department sends an intimation under section 143(1) to highlight any discrepancy that might arise from a lower tax paid than what was meant to be paid. In case of a lower tax paid, the tax payer is meant to pay the balance amount and ...

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Category : Income Tax | Comments : 0 | Hits : 1155

Posted Date : 12-Jul-2024 , 06:50:28 pm | Posted By Chetan Singla

In this appeal, the assessee challenges an order dated 11/01/2024 issued by the Additional/Joint Commissioner of Income Tax (Appeals)-4, Chennai, concerning the assessment year 2021-22. The core contention revolves around the addition of Rs. 60,19,934/- under section 41(1) of the Income Tax Act, 196...

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Category : Income Tax | Comments : 0 | Hits : 2623

Posted Date : 11-Jul-2024 , 09:07:08 pm | Posted By Chetan Singla

The rapid growth of Indian businesses leveraging technology has facilitated their expansion into global markets, with many utilizing online payment gateways like PayPal and Razor Pay for seamless international transactions. These gateways allow startups and service providers offering remote services...

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Category : Income Tax | Comments : 0 | Hits : 2551

Posted Date : 10-Jul-2024 , 09:22:10 pm | Posted By Chetan Singla

In the case of Sheela Ramchand Uttamchandani v. ITO [2024] 163 taxmann.com 265 (Mumbai - Trib.), the central issue revolved around the eligibility of Sheela Ramchand Uttamchandani to claim capital gains exemption under Section 54 of the Income Tax Act. Sheela had sold her residential property in Jul...

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Category : Income Tax | Comments : 0 | Hits : 2315