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Section 263 of the Income Tax Act, 1961 serves as a key mechanism to ensure the proper and just administration of tax laws in India. This rule lets the Commissioner change any decision that seems wrong, harms the government's money, or wasn't properly checked. It gives the Commissioner power to…

The areas of mediation, insolvency, and bankruptcy frequently intersect within the worlds of business and finance, encompassing diverse legal procedures. The purpose of insolvency and bankruptcy frameworks is to effectively address financial difficulties and fulfil debt commitments, whereas mediation serves as a voluntary approach to resolving conflicts. This article explores…

All professionals and registered businesses may plan for compliance well in advance thanks to the GST calendar. To avoid paying late interest or penalties, all taxpayers are required by law to file their GST returns within the time frames specified by the GST laws. Let us discuss about GST compliance calendar…

In India, the Goods and Services Tax (GST) has significantly changed the taxation of many activities such as betting, gambling, casinos, horse racing, lottery, and online money games. It is critical to understand how GST (Goods and Services Tax) applies to these. This has consequences for both company and consumers.…

MCA has decided to issue only one identification number to individuals for both the purposes of becoming a director and a designated partner to avoid duplication. With effect from July 9, 2011, the DIN is therefore integrated with the DPIN. Let us discuss Combination of DIN with DPIN. Table of…

Ensuring compliance with the Companies Act 2013 is essential for the seamless operation of a Private Limited Company. An annual compliance checklist serves as a comprehensive guide, outlining the statutory requirements and obligations that must be met by such entities. This checklist covers all the important things a company needs…

When selling a non-residential property in India, it is important to understand Section 54 and 54F of Income Tax Act. These provide tax-saving alternatives when selling non-residential assets in India. Individuals can save money on taxes by reinvesting the sale proceeds in residential real estate. People who pay taxes can…

Gratuity is a reward for an employee's long-term service. While it's a gesture of gratitude, not everything is taxable. Gratuity is completely exempt for government employees in India. There are specific limits for private sector employees under the Income Tax Act 1961. Accurate knowledge will ensure that you take advantage…

An important step towards the registration of One Person Company under the Companies Act, 2013 is that it makes possible for one person to form a business and take use of the advantages of both a private limited company and a sole proprietorship. Following the Companies Act 2013, this idea became accessible.…

Nidhi Companies and Cooperative Societies are two common choices for structuring and overseeing financial operations inside a community. Do you want to know how these two differ as well? Go on to read! Let us discuss about Nidhi Company and Co-Operative Society. Table of Contents  What is a Cooperative Society?…