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LLP or limited liability partnership is a type of partnership firm which have features like a company. It is just like a partnership firm in which there are partners but the major difference in LLP is that in a partnership firm the maximum limit of partners is 50 but in…

Form INC-20A is a declaration form that is to be filed by the directors of the company at the time of commencement of business. The declaration form should be verified by the Chartered accountant or cost accountant or company secretary. According to section 10A of companies act 2013 and Rule…

E-commerce Industry or online selling is the new market in India. Ecommerce businesses in India grow at a rate of 40% per annum, with the ease of the internet which is increasing its reach to every part of the country. The e-commerce industry is the fastest growing industry in the…

Competition is the key essence of market. Every business needs to compete with its rivals and to succeed one needs to keep a step ahead of competition. However, in the year 2020 Covid 19 pandemic has shattered the economy and it also affects the small businesses up to a great…

The Ministry of Corporate affairs vide The Company (Incorporation) Fourth Amendment Rules, 2021 has introduced new E-form AGILE-PRO-S. This form is required to file an application for registration of Goods and services tax Identification number, employees state Insurance corporation registration, Employees provident fund organisation registration, Profession tax Registration, Opening of…

FSSAI stands for Food Standards and Safety Authority of India. It is an autonomous body responsible for food safety and promoting and protecting public health by appointing food safety authorities for implementation and supervision. The FSSAI is established under Food Safety and Standards Act 2006. An individual/entity who wish to…

The word Compliance means to comply with the prescribed rules, regulations, laws and standards that are applicable to a Company or businesses. Confirming to Compliance provide a way to the company to adhere to the regulations for environment, Labour, finance, accounting, etc. Compliance not only helps in preventing problems but…

Few specified payments under the provision of the Income Tax Act are required to deduct tax at source. However, TDS provisions bound every payer to deduct taxes at the rates set in the applicable sections of the Income Tax Act. In all circumstances, the recipient is required to furnish their…

An income tax return is a summarized record that contains information about your earnings for a fiscal year. You are required to pay your tax liability and file your returns with the income tax department yearly. The income tax department has set different tax rates for various income slabs; it…

KYC stands for “Know your customer”. It is a process initiated by all banks, financial institutions and other departments to know their client’s identity by verifying his personal details like Mobile number, E-mail Id, PAN, Passport, etc. well in advance. The Ministry of Corporate affairs have also undertaken the process…