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TDS (TAX DEDUCTED@SOURCE)
Dear Young Accounting Aspirants, today let us talk on TDS which is also tedious for many of us including Professionals. The full form of TDS is Tax Deducted @ Source. Let us interpret this in more detail. Deducted @ Source means deduction at the time of...
INCOME TAX – SALARIEd – FEW MYTHS BUSTEd – read to join
The salaried class has a lot to gripe about. They always feel that they get the short end of the stick as far as income tax goes. The bigger fish always go scot-free. Salaried are those who are always caught and punished without much exemption. As a tax...
INCOME TAX AND THE TAXPAYERS OF BUSINESS/SERVICES
The business/service class feels that keeping books of accounts and other records can be a burden on them. They aver that they will be penalized for lapses that happen unknowingly as they lack expertise in understanding the various sections, meaning and...
ESI-LANDMARK JUDGEMENT OF SUPREME COURT DATED MARCH 8, 2021
The issue was ESI applicability on conveyance. The ESI claimed contribution on conveyance. Further to that, ESIC court set aside the claim of ESI on insurance. Aggrieved by the order, ESI approached high court. However, the said appeal has been dismissed by the...
SECOND WAVE STIMULUS SCHEME FOR COVID RELIEF
A new round of economic stimulus was announced on June 28, 2021, by Honorable Finance Minister Ms. Nirmala Sitharaman Package worth Rs. 6.29 lakh crores were announced for relief of struggling MSMEs affected by the catastrophic second wave of Covid-19 pandemic. As you...
INTRODUCTION TO BUSINESS INCORPORATION SERIES…8) FOREIGN LIAISON OFFICE
Next in the series is the business entity, foreign liaison office. Foreign companies can open their liaison office in India, but they are not permitted to perform commercial operations like sales or purchase. They can only liaison on behalf of a foreign...
iNTRODUCTION TO BUSINESS INCORPORATION SERIES…7)FOREIGN COMPANY WITH BRANCH OFFICE IN INDIA
Today, we will be beginning a new topic, which is rather vast and this entails the different types of foreign company entities that can set up office in India and the processes followed. First in this series will be a FOREIGN COMPANY WITH BRANCH OFFICE IN INDIA....
INTRODUCTION TO BUSINESS INCORPORATION SERIES 6) PUBLIC LIMITED COMPANY
Continuing on the series, today’s discussion will be on another business entity, that is public Limited Company. A public limited company can be a wholly owned Indian company or a wholly owned subsidiary of a foreign company or a joint venture between a foreign...
INTRODUCTION TO BUSINESS INCORPORATION SERIES… 5) PRIVATE LIMITED COMPANY
The discussion is on Private Limited Company, which can be wholly owned Indian company or a wholly owned subsidiary of a foreign company or a joint venture between foreign and Indian company or a wholly owned foreign company. Private limited company should have...
INTRODUCTION TO BUSINESS INCORPORATION SERIES…4) OPC (ONE PERSON COMPANY) REGISTRATION
Continuing on the series, today we will focus on another form of business, namely – OPC which is One Person Company wherein one person can start a private limited company, which helps one to build a collaboration at the international level as it gives the status of a...
INTRODUCTION TO BUSINESS INCORPORATION SERIES…3) LLP (Limited Liability Partnership) Registration
Friends, I think all of you have been following this series that we have been doing regarding the types of business entities. Today, we will be discussing about LLP, that is limited liability partnership under the Ministry of Companies Act (MCA). Simply...
INTRODUCTION TO BUSINESS INCORPORATION SERIES…2) PARTNERSHIP REGISTRATION
Hi everyone. I am back now with the next in the series. Today, we will be dealing with how and why of a partnership business. What is a partnership? A partnership business can be between two persons or more and these persons will be called as...
INTRODUCTION TO BUSINESS INCORPORATION SERIES :1) proprietorship
Hello everyone. How often have you considered starting a business and did not know how? Do you know the best type of business suited to you? Here, we are now bringing in a series of blogs to help all business and services to know ways of starting a...
MSME SERVICE TAX WOES
The MSME in India is a harried lot. First, it was the economic recession, and then came the biggest threat of all – the Covid-19 first wave. It raged on for months and then when things started looking up a bit, then came the second Covid-19 wave. It...
HOW TO MAKE TDS PAYMENT ONLINE?
TDS Online payment has to be made through specified banks like SBI, ICICI etc. The type of payment has to be specified with sections. For eg: Section 192: Payment of SalarySection 194A: Interest (Other thab Interest on Securities)Section 193: Interest on...
WHAT IS PROFESSIONAL TAX REGISTRATION
Profession Tax (PT) is a tax levied by the respective State Government in India. In Karnataka, Profession Tax has to be paid by everyone following a Profession or is engaged in any business or holds employment in public or private as specified in the Schedule to the...
Disclaimer
This article is intended for informational purposes only. The views expressed are solely those of the author and do not constitute official policy, advice, or endorsement by the company.