While you might not come across the Income Tax Clearance Certificate (ITCC) every day, it plays a crucial role in certain financial and legal situations in India. Think of it as proof that you’re on top of your tax obligations, showing the authorities that you’ve cleared your dues with the Indian Income Tax Department. Let’s …
Starting a business is an exciting venture, but the company registration process can be fraught with challenges. Entrepreneurs often face several pitfalls that can lead to delays, penalties, or legal complications. This guide highlights ten common mistakes made during company registration and provides actionable strategies to help you avoid them. 1. Choosing the Wrong Business …
In the corporate world, both ROC-Initiated Strike-Off and Compulsory Winding Up are legal processes that lead to the dissolution of a Limited Liability Partnership (LLP). However, these two processes are distinct in their nature, initiation, and procedures. 1. ROC-Initiated Strike-Off (LLP): A strike-off refers to the removal of an LLP’s name from the Register of …
The Real Estate Regulatory Authority (RERA), established under the Real Estate (Regulation and Development) Act of 2016, aims to safeguard home buyers and boost investments in India’s real estate sector. Passed by the Rajya Sabha on March 10, 2016, and effective from May 1, 2016, RERA seeks to bring transparency, accountability, and consumer protection to …
The Ministry of Corporate Affairs (MCA) has introduced significant amendments to the Limited Liability Partnership (LLP) Rules through the Limited Liability Partnership (Amendment) Rules, 2024, which came into effect on August 27, 2024. These changes primarily impact the filing processes and the role of the Centre for Processing Accelerated Corporate Exit (C-PACE), an initiative launched …
Introduction The Goods and Services Tax (GST) regime in India has introduced various forms and procedures for different categories of taxpayers. Among these forms, GSTR-11 is designed for a distinct group of taxpayers—those who hold a Unique Identity Number (UIN). This guide will provide you with everything you need to know about GSTR-11, including its …
Introduction The introduction of new TDS sections often signals a shift towards more intricate tax compliance requirements. The recent addition of Section 194T, set to become effective from April 1, 2025, is a case in point. Traditionally, TDS provisions were primarily concerned with payments to employees within firms, leaving payments to partners—such as remuneration, interest, …
In today’s globalized economy, businesses often operate internationally, leveraging resources, expertise, and market opportunities across borders. To manage costs effectively and comply with international tax regulations, multinational enterprises (MNEs) need robust financial and operational strategies. One such strategy is the Cost Contribution Arrangement (CCA). This guide will explore the concept of CCAs, their benefits, implementation, …
Introduction In an era where technology-driven businesses are the backbone of economic growth, ensuring the right balance between regulatory compliance and operational flexibility is crucial. Recognizing the dynamic nature of Information Technology Enabled Services (ITES) and Information Technology (IT) establishments, the Government of Telangana has decided to extend certain exemptions to these sectors. This blog …
In recent years, India has witnessed a surge in entities offering services related to Virtual Digital Assets (VDAs). This phenomenon, previously unregulated, underwent a significant transformation with the issuance of a crucial notification by the Ministry of Finance on March 7, 2023. This notification marked the inclusion of VDAs under the purview of the Prevention …