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  GST stands for Goods and Service Tax. GST gives the benefit of availing seamless credit in business transactions. However, to avail this seamless credit and other GST benefits you need to be a registered dealer. Our scope of discussion in this article is all aspects of GST Registration. We…

Promoters of a company decide the capital investments at the incorporation stage. As the business grows, the company expands its operation. Sometimes the capital surpasses the limit of authorized capital. To facilitate this the management increase in authorized capital of company. The authorized capital is the amount of capital for…

In 2009, the government enforced Limited Liability Partnership Act, 2008 for the formation of limited liability partnerships in India. The Limited Liability Partnership is a popular form of business because of its simplified registration process and maintenance. They allow many small and medium-sized companies to have a separate legal entity…

Indian marriages see a huge influx of gifts. The newlyweds are given gifts from their immediate families and friends. A common question arising in the minds of the newlywed taxpayers is revolving between marriage gifts and taxation. Section 56 of the Income Tax Act states that cash, jewelry, house, and…

The backbone of the economy lies with the Micro, Small and Medium Enterprises known as MSME in short. Currently, there are nearly 6.3 crore MSMEs in India according to the latest Ministry data in 2021. These enterprises contribute nearly 29% of the country's GDP. MSME was introduced in 2006 and…

Today’s population, especially those living in big cities have evolved from living in big houses to apartments/villas etc. These days the working professionals do not have enough time for constructing their own houses by arranging men, material etc. So, now the trend of buying posh flats in posh housing societies…

It is said that shareholders are owners of the company. However, in reality it is the Board of Directors who exercise great control. Board of directors only take decisions regarding day to day operations and routine affairs of the company. With control comes risks of misuse of that power. So…

The concept of non-profit organizations came in the early 19th century. In India, non-profit organizations are covered under section 8 of the Companies Act, 2013. The main purpose of a non-profit organization is to invest the profits earned for the betterment of the society. A section 8 company can convert…

GST i.e. Goods and Service Tax is an indirect tax i.e. collected from customers and paid to the government. The Act also provide all the detailed provisions about its collection, payment, due date of payment, due date of returns etc. Now, what happens if the GST is wrongfully collected and…

The full form of TDS is Tax Deducted at Source. It is the amount that is deducted as a tax from the money paid at the time of specific payments such as rents, commissions, salary, or professional fees. It is one of the tax-collection method used in India. It is…