In compliance with the Indian Company Law, businesses are mandated to provide a physical address for registration. Section 12 of the Indian Companies Act, 2013, unequivocally outlines this requirement:...
Embarking on the journey of launching a startup? The current entrepreneurial landscape in India presents a myriad of opportunities. However, navigating this terrain requires careful planning and foresight to steer clear of the fate that befalls many startups – a staggering 94% of which close...
In the realm of Goods and Service Tax (GST), questions often arise about the taxability of various forms of advances. This blog aims to provide clarity on this matter by examining the relevant provisions of the law....
During the timeline leading up to April 1st, 2020, the Central Board of Indirect Tax and Customs (CBIC) issued a notification concerning the mandatory Aadhaar authentication for GST registration....
In the realm of income tax compliance, individuals must be prepared to navigate the possibility of a tax raid conducted by authorities. These raids, officially termed as "Search and Seizure" operations, serve as a pivotal tool wielded by the Income-tax department in combating illicit financial...
Risk management within the realm of internal audit is a critical aspect, defining the potential impacts on organizational objectives due to various events. It encapsulates both positive and negative ramifications, necessitating a meticulous approach to mitigate and capitalize on risks....
The deadline for filing income tax returns stands as a pivotal moment for taxpayers, marking not just a legal obligation but also a significant financial responsibility. Each year, citizens are required to submit their returns by the designated due date, typically by 31st July of...
Late fees are a common concern for registered entities under the GST regime. Failure to file GST returns promptly can result in financial penalties under Section 47 (2) of the CGST Act, 2017. ...
In the backdrop of Section 5A of the Income Tax Act of 1922, the Income Tax Appellate Tribunal (ITAT) was established, operating under the aegis of the Ministry of Law and Justice. Serving as a subordinate body to the High Court of specific regions, the...
Individuals often encounter the need to rectify or revise salary details in their E-TDS returns after submission. Here’s a comprehensive overview on how to go about this process....
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