2017-01-30 10:36
With Goods and Service Tax (GST) being most unlikely to be implemented from 1st April, 2017, Mr. Arun Jaitley will have to quickly re-assess the indirect taxes rate structure in the Annual B… Read More
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startup india initiative
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spice
Rs 200 per day for non or late filing of service tax returns. Due date for half year ST return for FY 15-16 is 25th April, 2016.
2017-01-30 10:04
While all eyes are set on the on the Union Budget for the upcoming financial year, the Union Government is keen to present the unique and historic budget on 1st February… Read More
2017-01-30 08:46
It has been a year now since Prime Minister Narendra Modi launched the Startup India scheme on the 16th of January, 2016. However, the response to the scheme has been lukewarm. As per… Read More
2017-01-30 08:42
In the midst of the hue and cry caused by demonetisation, the government, through the Central Board of Direct Taxes (CBDT), came up with an announcement on 19th December, 2016, giving huge t… Read More
2017-01-27 07:59
The year 2016 has been a cocktail year for startups. A large percentage of startups bombed. There was a lull in the funding area. Private equity investments into India fell to $16 billion in… Read More
2017-01-25 10:47
Introduction The Ministry of Finance has declared existing series of the value of Rs. 500 and Rs. 1,000 not to be a legal tender. As the Specified Notes cease… Read More
2017-01-24 14:33
The ministry of corporate affairs (MCA) through a notification dated 01/10/2016, put forth the Fourth Amendment rules, 2016 for the incorporation of companies has recently introduced… Read More
2017-01-24 12:11
Post the demonetization of the high-value currency notes and the drastic measures taken by the government to promote cashless economy, to tackle the evil of black money, the jury i… Read More
2017-01-24 10:26
With the growth of the Indian economy, and the role played by its entrepreneurs, a need has been felt for a new corporate form that would provide an alternative to the traditional partnershi… Read More
2017-01-24 09:13
All eyes are set on the Union Budget, 2017-18 announcements in the wake of the current economic scenario. Further, the Government is taking efforts to ensure a speedier implementation of the… Read More
2017-01-20 11:56
The Union Budget 2017-18 is definitely unique even historic in many ways. It will be presented on an earlier date of 1st February this time rather of usual date of 1st March of eve… Read More
2017-01-16 13:05
The Reserve Bank of India (RBI) has eased the caps on withdrawals from automated teller machines (ATM) with immediate effect. Now, customers will be allowed to withdraw up to Rs10,000 per da… Read More
2017-01-14 04:52
NSDL e-Governance Infrastructure LimitedPAN ServicesCircular Circular No.: NSDL/TIN/12017/001 January 10, 2017 Subject: New design of PAN card All TEN-FCs & PAN Centres are hereby inform… Read More
2017-01-10 12:05
Looking to start your own Company? The top destinations that comes to our mind are Singapore, USA & India. All these three economies are unique and have tremendous growth potential which… Read More
2017-01-09 05:22
The above is the latest update in the course of demonetization. Banks and post offices have been mandated to report cash deposits for the period April 1 to November 9 as well. Previously, on… Read More
2017-01-04 12:00
2016 has been the GST year. Inspite of the heavy efforts from the Govt, rollout of the GST regime may not be possible by April, 2017 . Experts are predicting a roll-out only by June-July. &l&hell…Read More
2017-01-02 14:14
The Ministry of Corporate Affairs has brought further Amendments in its Incorporation rules. MCA vide notification dated 29th December 2016 has modified its incorporation rules.  &hell…Read More
2016-12-23 06:01
Amid signs of slippage of the April 1 GST rollout target, Finance Minister Arun Jaitley today said pending resolution of “turf” issues, GST is a transactional levy that unlike in… Read More
2016-12-21 06:32
With the new GST portal going live, the enrollment drive for existing taxpayers registered under Central Excise Duty, Service Tax and State Value Added Taxes thus begins. As the Government i… Read More
2016-12-19 13:20
Now receive payments through banks or digital means to pay lower Income Tax. Under the existing provisions of section 44AD of the Income-tax Act, 1961 (the Act), in case of certain assesses… Read More
2016-12-19 12:41
Presently a lot of capital investments are being made by individuals with a future prospective. The profits which the investors realize from the sale of Capital asset are termed as Capital g… Read More
2016-12-19 12:41
Presently a lot of capital investments are being made by individuals with a future prospective. The profits which the investors realise from the sale of Capital asset are termed as Capital g… Read More
2016-12-17 11:33
“Dear Taxpayer, As per our records, it is observed that you have not filed your Income Tax Return for Assessment Year 2015-16. Please submit your online response as under:”… Read More
2016-12-17 09:18
India’s plans to roll out a countrywide Goods and Services Tax (GST) from April 1, 2017 appear increasingly unlikely with the Centre and states failing on Sunday to conclude discussion… Read More
2016-12-17 08:54
Many times entrepreneurs invest the retained earnings or idle company funds in Shares of different Companies and even in listed Companies/Mutual funds, through stock exchange. Most of the ti… Read More
2016-12-17 08:14
Govt offices and backlogs go hand in hand. The most adverse impact of the backlog probably is the stalling of the GST legislation.Additionally, demonetization has taken up most of the winter… Read More
2016-12-16 15:43
Govt opens window for declaring black Money under PMGKY from Dec. 17, 2016 to 31st March,2017. Government announced that any unaccounted cash or deposit in a bank account before April 1, 201… Read More
2016-12-16 11:00
Now Pay Service Tax on Websites and Servers hosted abroad as service tax has been levied on import of online information and database access and retrieval (OIDAR) services with effect from 0… Read More
2016-12-08 13:01
The Government is eager to roll-out the Goods and Services Tax (GST) – the biggest indirect tax reform in the history of our Constitution with effect from 01 April 2017. Th… Read More
2016-12-08 10:56
Home Loan is something for which nowadays Individuals specifically Salaried Individuals opt for. Availing a home loan is not a tough task. However what basically troubles an Individual… Read More
2016-12-06 08:06
Trademark is a symbol, word, phrase, logo, or combination of these that legally distinguishes one entity’s product from any others. Any infringement on trademark is illegal and therefo… Read More
2016-12-01 10:52
Last chance to come clean for black money holders! Addressing the concerns of demonetization, an alternative scheme namely, the ‘Taxation and Investment Regime for Pradhan Mantri Garib… Read More
2016-11-30 11:13
Tax & regulatory services have been pain points for all businesses. In the hustle and bustle of growing your businesses,they often take a back seat. Sometimes they are avoided because of… Read More
2016-11-28 11:53
Modi comes up with another master stroke in the form of amendments of the existing Income Tax laws and introduction of the new Income Disclosure Scheme. With concerns looming large on the fa… Read More
2016-11-28 11:16
In a flurry of GST related announcements, there came some reliefs for the stock markets. The definition of “goods” under the Goods & Services Tax Law has been redrafted to ex… Read More
2016-11-28 05:09
Press Information BureauGovernment of IndiaMinistry of Finance26-November-2016 14:33 IST Draft Model GST Law, Draft IGST Law and Draft Compensation Law placed in the public domain for inform… Read More
2016-11-26 09:31
Amidst all the horde of demonetization speculations that are making rounds, a new disclosure scheme was being drawn up. This scheme is likely to introduce an amendment to the income tax law… Read More
2016-11-21 12:59
Starting up a business looks a easy task but it is not so easy. There are lots of hurdles which an entrepreneur needs to overcome. In every State of India before starting a business there ar… Read More
2016-11-21 07:33
Consequent to the move of banning old ₹500 and ₹1000 notes, the Income Tax department has detected over Rs 200 crore in undisclosed income after it conducted over 80 surveys… Read More
2016-11-19 06:35
ATMs and banks continue to struggle meeting the ever increasing queue for exchange of old notes. RBI has been on constant loop about the execution of the scheme. It has been issuing n… Read More
2016-11-18 09:58
A major announcement was made by our Prime Minister Narendra Modi on 8th of November to scrap the black money since then we can see a large number of people standing outside Banks and Post o… Read More
2016-11-17 13:10
Can India sustain the demonetization blow? This has been the hot topic for countrymen for some days now. The Govt has been coming up with directives, clarifications, relief measures in… Read More
2016-11-16 13:01
Income department has started sending notice u/s 133(6) . The notice under this section enables the income tax authorities to compel Individuals / Companies /AOP /trusts to furnish such info… Read More
2016-11-16 11:06
In our previous article we have mentioned the list of necessary registrations which are required to start and operate your business in Kolkata. In this article we would like mention the due… Read More
2016-11-14 11:33
Are you planning to start your business in Kolkata? If yes, and then for this you need to have a clear picture of some legal terms and some legal obligations which needs to be fulfilled from… Read More
2016-11-10 10:26
In one of the historical reforms of the economy of India, Rs 500 and Rs 1,000 notes were banned effective Tuesday midnight. This was one of the boldest movements by the Government of India a… Read More
2016-11-09 05:29
PM Narendra Modi on Tuesday announced scrapping of Rs 500 and Rs 1,000 notes. While there is no doubt that this decision might cause some short term minor hardships, the long term benefits o… Read More
2016-11-08 05:47
Company Incorporation in India witnesses another bold and big initiative in the form of SPICE. SPICE or Simplified Proforma for Incorporating Company Electronically is an initiative by the G… Read More
2016-09-22 08:06
Starting up your business is not a one-day hustle. It is not as glamorous as it often seems to be.7 out of 10 startups fail. Though there might be a host of reasons for such failure, still m… Read More
2016-09-13 12:01
Selection of the appropriate form of business depends on many factors such as the type of business, the number of members involved, whether want to have a full control over the… Read More
2016-09-13 08:20
CBDT today clarified that assessees taking advantage of the Direct Tax dispute Resolution Scheme, 2016, will be required to pay the taxes within the stipulated period to avail the relie… Read More
2016-09-10 11:00
The last date for making declarations under the Income Declaration Scheme 2016 is 30th September, 2016 which coincide with the last date of filling Income-tax returns by the tax payer… Read More
2016-09-09 07:23
Finally on August, 08th 2016 President Pranab Mukherjee gave his assent to the landmark Goods and Service Tax (GST) Bill. The legislation amending the Constitution to enable goods and s… Read More
2016-09-07 10:45
In the previous article, we have stated about 5 Compliance that you can do after incorporating a company. Here in this article, we are going to discuss the relevant facts which every promote… Read More
2016-09-07 06:16
The Employees’ State Insurance Corporation (ESIC) yesterday raised the monthly wage threshold to Rs 21,000, from the current Rs 15,000, for coverage under its health insurance s… Read More
2016-09-06 08:32
So a month has passed from the due date of filing Income tax return for Individuals. Department has started processing the returns. After the return is processed a notice from income tax dep… Read More
2016-09-05 09:46
Is your tax liability during the FY 2016-17 exceeding Rs.10, 000? If yes, then you are liable to pay Advance tax. So what is advance tax? Who all are liable to pay advance tax? Let’s d… Read More
2016-09-04 11:01
Incorporation of a company requires lots of effort and initial capital. But to run the business in a uniform and stable manner is a much bigger and difficult task to do. Every promote… Read More
2016-09-01 12:10
Reserve Bank of India’s latest annual report under Governor Raghuram Rajan, emphasizing on economic growth, curbing inflation, economic growth, clean-up of banking secto… Read More
2016-08-30 07:57
The Maharashtra Legislature today unanimously ratified the Goods and Services Tax Constitutional Amendment Bill, joining a clutch of states which have already approved the legi… Read More
2016-08-29 11:12
In this article, we will discuss few EPF rules which are not known by the individuals. An employee’s small portion of the salary (12% of the basic salary) is re-invested… Read More
2016-08-27 13:28
Sports by itself teaches us many things. Olympic, which is the biggest sporting event in the world celebrates not only sports but also the sportsman spirit. The recently concluded Rio… Read More
2016-08-25 12:40
Recently the Government has announced the name of Dr. Urjit Patel who shall succeed Dr. Raghuram Rajan as the new RBI Governor. Dr. Patel has been entrusted with the job of carving the monet… Read More
2016-08-25 12:10
Employee’s Provident Fund Organisation (EPFO) has brought in some major change in the way it works and a new system called UAN (Unique Account Number) is in place now. The UAN i… Read More
2016-08-24 10:58
Here is a great news for all EPF account holders. EPFO has come up with new and revised forms using which EPF withdrawal process is now super easy and can happen without employer sign… Read More
2016-08-19 12:31
The Union budget is set to get thinner once the Goods and Services Tax (GST), a vital indirect tax reforms that aims to develop a common domestic market and cut out multiple le… Read More
2016-08-17 13:23
The Goods and Services Tax (GST) regime will weed out black money and usher in an effective taxation system in India. GST is the biggest reform brought in which will make India an attractive… Read More
2016-08-12 13:22
Goods and Service Tax (GST) is by far one of the most awaited tax reform brought in our country. The Government is likely to push the implementation of GST with effect from April, 1st… Read More
2016-08-11 11:21
The implementation of GST is excepted to usher in a uniform tax regime and bring some clarity to indirect taxation in the E-commerce sector. Further, GST would replace all the indirec… Read More
2016-08-10 12:04
Indirect tax in India has driven businesses in restructuring and modelling their supply chain systems owing to multiplicity of taxes and costs involved. With hopes, that it will end ‘T… Read More
2016-08-09 12:39
Starting a business requires effort. However, maintaining a business requires a much bigger effort. Our business is going nowhere or we are just in the launching phase. Here, any expense whi… Read More
2016-08-09 08:29
The Government have recently notified 10 Income Computation and Disclosure Standards (ICDS). These ICDS are applicable from April 1st 2016 i.e. previous year 2016-17 (Assessment… Read More
2016-08-06 07:42
Alok Says….Non-compliance is like a cancer for your business. Tax and regulatory compliances have always been a scare point for most businesses, especially startups. And it is human n… Read More
2016-08-05 11:35
“Non-Compliance can really screw your business. There is no challenging that. Yes, some non-compliances might not impact your business from Day 1. Some will not im… Read More
2016-08-05 07:13
On June 14, 2016, the Central Government had put the Draft Model GST Law on public domain after getting in-principle nod from the Empowered Committee of State Finance Ministers. Yesterday, t… Read More
2016-07-30 08:49
As we have highlighted previously, the Government is seriously looking at ways to smoothen the ease of doing business. In its latest endeavor towards this, the Government has come up with a… Read More
2016-07-29 14:56
Hopefully it doesn’t come as a surprise, return filing for your taxes for the Financial Year 2015-16 were due in 3 days! However, to facilitate payment the filing of returns… Read More
2016-07-28 06:29
Job hopping is a very common practice these days. Almost, 95% of the taxpayer have various issues when they possess more than one Form 16. Usually two or more Form 16 leads to confusion whet… Read More
2016-07-27 06:30
The Revised Rules in regard to Form 15CA and 15CB are effective from April, 1st 2016. CBDT have amended Rule 37 BB of Income Tax Rules and made notable changes which are as under:- An Indivi… Read More
2016-07-26 06:53
The Income Tax Department have formulated an effective Information Processing System to determine the tax liability. The Forms (15CA & 15CB) are introduced to track foreign remitt… Read More
2016-07-23 13:12
In the present era, India is accustomed to taking up works/jobs in abroad in regard to any offshore assignment or project. It simply states that the individual spends some part in Ind… Read More
2016-07-22 11:08
There is always an ambiguity that, the assessee will receive a notice from the Income Tax Department or not. Further, the Income Tax Department is collating all sorts of information fr… Read More
2016-07-22 10:45
To, All Pr. CCsIT/Pr. CCIT (International-tax)/CCIT (Exemptions)/Pr. DsGIT Subject: – Issue of notices under section 143(2) of Income-tax Act, 1961 in revised format-reg… Read More
2016-07-11 13:01
Do you know that every 2nd Startup gets Income Tax Notice for tax demands or for non-compliance, 3 out of 7 Startups finds place on the default list of Registrar of Companies d… Read More
2016-07-09 08:49
It takes time to build a business and an important lesson while growing is to save cost. Penalties and fines are important ways of checking undue expenses. TDS default is very common among s… Read More
Tax Department Raids Entry Level Operators – Thankfully Will Trigger End Of “Jama Kharchi†Era
2016-07-09 08:21
The ritual of “Jama Kharchi” has become an integral part of the business environment over years. This is a system wherein “entry operators” provide cheques to benefic… Read More
2016-07-07 09:59
A common mistake that many entrepreneurs make is that during investment they do not make necessary compliance or leave the compliance to a traditional CA Firm who has little idea of the nuan… Read More
2016-07-01 13:56
The Income Tax Act provides a few deductions to the assessee which assist them to save their taxes and invest the same for future purposes. Here below is the list of deduction… Read More
2016-07-01 13:45
The Income Tax Act states that the gross total income of an assessee can be determined after considering income from all the heads of income and certain deductions. The individuals do… Read More
2016-07-01 13:04
House Property is one of the heads of income in Income Tax Act. It forms an integral part of the income head. House property consists of any building or land appurtenant thereto of which the… Read More
2016-07-01 07:25
Have you ever considered what will happen if your competitors start enjoying your brand value and you cannot do much of it? Have you ever thought that the goodwill that your brand enjoys bei… Read More
2016-06-30 12:52
An individual needs to have a clear concept of the term ‘Form 16’of Income Tax Act, 1961. The form consists of essential information, which is required while preparing Inc… Read More
2016-06-30 11:33
The individual needs to gather the specified documents for filing E-returns in India. There are minor requirements that are almost over-looked by the individuals, which may further cause pro… Read More
2016-06-30 09:45
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes PRESS RELEASE New Delhi, 18th April, 2016 Subject: Draft rules for grant of Foreign Tax Credit &ndash&hell…Read More
2016-06-29 13:39
Beware..Rs 25 lakhs can be the cost of not maintaining Board Minutes. All the business houses, expect to have a transparent and uniform governance of all the activities of the company… Read More
2016-06-29 13:39
All the business houses, expect to have a transparent and uniform governance of all the activities of the company so Secretarial Standards was introduced which acts as a benchmark in… Read More
2016-06-28 12:44
A penny saved is a penny earned. Likewise, saving taxes means saving of our money. As per Income Tax Act, when an individual avails loan for education purpose, then deduction un… Read More
2016-06-28 10:32
Most of the renowned financial planner suggests that the first step towards effective and sound financial plan is ensures adequate health insurance facilitates for the self and family… Read More
2016-06-28 09:33
As per the current Income tax provisions, PAN is required to be furnished by all the taxpayers including non-residents to the deductors to avoid higher withholding tax than the prescribed ra… Read More
2016-06-27 14:30
Many of the local consultants in India talk about avoiding registration of company. They state that the registration and compliance cost of a company are huge and hence the start-up should r… Read More
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