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finance, accountancy, savings-2837085.jpg Direct Tax

FIVE COMMON ERRORS IN GST

FIVE COMMON ERRORS IN GST Filing GST returns is mandatory for taxpayers. It’s a complex procedure, hence it is important to be cautious about every entry made onto the GSTN portal. Any mistake made in GST Returns cannot be rectified. Make sure that you are aware of the most common errors as discussed below and […]

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Startups

Financial Model for the Start-ups. 

Startup Funding – 5 steps to create impressive Financial Model Following are the Steps to writing a successful Financial Model for the Startups. Determine the KPIs for your company  These are numerical factors and assumptions that you will be able to track key performance indicators.  If you can’t track how you perform against them Then It […]

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Income Tax

9 REASONS FOR NOTICES FROM INCOME TAX DEPARTMENT

9 REASONS WHY WE GET NOTICES FROM INCOME TAX DEPARTMENT Non-filing of Certain forms If Assessee has Opted for Lower rate of taxation, then there are Specified forms like 10IE in case of Individuals having business income, 10IC in case of Companies which needs to be filed before filing the ITR, omission of filing of […]

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financial, analysis, accounting-4560047.jpg Current Event

Changes brought in Transfer Pricing through Union Budget-2022

Changes brought in Transfer Pricing through Union Budget-2022 Union Budget 2022 was announced on February 1st,2022 and many changes were brought in Taxation. One of the key areas to be focused was litigations. With respect to Transfer Pricing, budget has brought many changes. In this article, you can find the changes brought in Transfer Pricing […]

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student, typing, keyboard-849825.jpg Incorporation

RECIPE FOR INCORPORATING A COMPANY

RECIPE FOR INCORPORATING A COMPANY WITHIN 10 DAYS?     Steps involved:  Application for DSC  Digital Signature Certificate has to be acquired to submit the documents. DSC is mandatory for all the proposed directors and the subscribers to the Memorandum of Association (MoA) and Articles of Association (AoA).   Applying for Name Reservation (SPICe+ Part A)  Form […]

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Foreign Direct Investment (FDI) in LLP

Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP) Why should a Multi- National Company (MNC) looking to start a offshore development center in India consider LLP structure of entity?  Let’s have a look on concept of MNC and objective of FDI before we start digging on suitability of LLP structure for FDI.  Multinational Company […]

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Direct Tax

Bonus and Commission Paid to Directors

Whether the amounts paid to directors in form of Bonus and Commission is anallowable expenditure to the company? FACTS OF THE CASE Assessee: Hamilton & Co. Ltd Opponent: Deputy Commissioner of Income Tax (DCIT), CIT(A)-4, Kolkata Assessment year: 2014-15 Assessee have made payments in form of bonus and commission amountingRs. 15,00,000/- and Rs. 99,169/-respectively, to […]

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Startups

Incorporating a Company

5 Common errors and omissions to avoid while incorporating a Company Incorporation of a Company The incorporation of a company refers to the legal process that is used to form a corporate entity or a company. In other words, incorporation means the registration of the Company in Registrar of Company (Known as ROC), now maintained […]

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GST

The Process of GST E-Invoicing

The Process of GST E-Invoicing What is E-invoicing? ‘E-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal.  An identification number will be issued against every invoice by the Invoice Registration Portal. All invoice information will be transferred from this portal […]

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