Benefits Of MSME Registration

What is MSME?

The Government of India on 2nd July 2021, revised the guidelines for MSMEs. Retail and Wholesale trade has now been included as Micro, Small and Medium Enterprises....

Do I Always Need To Get My Books Of Accounts Audited?

Audit as its name suggests is an inspection of the books of accounts and making a report by an independent auditor. Every entrepreneur while operating its business has to always keep in mind the audit of the books of accounts for its business or profession. Audit of the books of accounts is governed by the laws under which books of accounts are required to be maintained ......

Advantages & Disadvantages - Section 8 Company

As per Section 8 of the Companies Act 2013, a company that has its sole objective of as promoting Education, Art, Sports, Commerce, Social Welfare, Charity, Research, Religion, Environment, Science, and many such similar objects; where the income and profits of the Company gets utilised for the promotion of its objective(s) only; wherein no....

Trade License- Why is it needed?

A trade license is a document/certificate that gives the permission to the applicant (person seeking to open a business) to commence a particular trade or business in a particular area/location. However, the license does not allow ......

Did you know that if you pay a salary to even one individual, you need Professional Tax Registration

The term 'Professional Tax' may be one of those that does not fully reflect the true sense of the term. Contrary to what the name implies, it is not a levy imposed only on professionals. It is a levy on all occupations, industries, and jobs that is charged depending on the wages earned by such occupation, trade, or employment. It is imposed on workers and others doing business in the state. It is levied on employees, a person carrying on the business including freelancers, professionals, etc., subject to income exceeding..........

15%* Corporate Tax...Read on to understand which Companies are eligible

Analysis of Sec. 115BAB

Section 115BAB prescribes for 15% tax rate for a domestic company that is incorporated after 1st Oct, 2019 & is solely engaged in the manufacturing or production of any article or thing and is commencing manufacturing ...

OPC-Annual Filing

One Person Company (OPC) means a company which has only one person as a member. 

Such a Company may have more than one Director on its Board of Directors....

Annual Filing of Forms by Companies

It is that time of the year when you have to bring your house in order. The place where you live is getting cleaned for ‘Diwali’ and .....

When to hold a Company’s Annual General Meeting (AGM)

Every Company, other than a One Person Company (OPC) has to hold an Annual General Meeting (AGM).

The calculation of the date to hold an AGM is like a puzzle........

What should be the 1st financial year of a newly incorporated Company?

“Financial Year"

For any company or body corporate: 
means the period ending on the 31st day of March every year.....