The section is applicable from 1st April 2017 Applicable to Not applicable to Transactions covered Penalty Disclosure requirements Anyone receiving cash in excess of Rs. 2 Lakhs or more. Cash receipts by a Banking company, Government, post office savings bank or co-operative bank, receipts from sale of agricultural produce by any individual or HUF; Transactions […]
Income Tax Department treats both Trusts and Societies similarly and the procedure for Exemption of Income or Grant of 80G Certificates is same under both entities; we should see the benefits of forming both Trusts and Societies separately so that a decision can be made as to which formation to go for. Trust A public […]
We efficiently handle the VAT compliances regarding the filing of returns, assessments and appeals for UP VAT. Value Added Tax or VAT is a form of consumption tax where the seller is required to pay the tax on the value added to a product, material or service. The basic characteristics of VAT are same but […]
We efficiently handle the VAT compliances regarding the filing of returns, assessments and appeals for Delhi VAT. Value Added Tax or VAT is a form of consumption tax; the seller is required to pay the tax on the value added to a product, material or service. The basic characteristics of VAT are same but the […]
We efficiently handle the VAT compliances regarding the filing of returns, assessments and appeals for Haryana VAT. Value Added Tax or VAT is a form of consumption tax where the seller is required to pay the tax on the value added to a product, material or service. The basic characteristics of VAT are same but […]
Excise duty is a tax on the manufacture or production of all excisable goods in India. Excisable goods refer to movable and marketable goods which are listed in the Schedules to the Central Excise Tariff Act. The following persons are required to get registration under Excise Duty: Manufacturer of excisable goods having a turnover of […]
Section 8 company is a company established with the objects of promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object’, and apply all its profits and other income for promoting only the objects of the company and do not pay any dividend to its members. […]
Service tax is a tax imposed on taxable services provided in India (except in the state of J&K). It is an Indirect tax as the service provider is required to pay the tax after collecting it from the Service receivers. In some cases the Service receiver is also made liable to pay Service tax The […]
A public limited company is defined as a company which is not a private company and it is authorized to offer its registered securities for sale to the general public, through a stock exchange. Characteristics of a Public Limited Company are: It must have at least 7 shareholders. It must have at least 3 […]
Some of the Post-incorporation compliances to be done by the company are provided below: Maintenance of a registered office Companies not having filed e-form INC 22 for registered office at the time of incorporation are required to establish their registered office and file form INC-22 within 15 days of incorporation. Affixing a board outside registered […]