OPC, also known as One Person Company, was created in India by the Companies Act of 2013, an innovative concept greatly relieving many entrepreneurs. According to Section 2(62) of the Companies Act 2013, One Person Company or OPC is a firm comprised of one person who is an individual member. Simply put, it’s an entity …
Income Tax Refund Status Check 2022: Not received refund yet? Read below to know how to check Income tax refund status now Most tax payee’s have already filed their income tax returns. As per the current data on the Income Tax website, over 6.16 ITRs for Assessment Year 2022-23 were filed till 11th September 2022. …
The Finance Bill, 2022, brings numerous revisions to GST law, customs, and central excise. Section 49 of the CGST Act is a significant section that deals with the payment of taxes and other liabilities. As well other amendments of this section has also been subject to changes, and these amendments will take effect from a …
With a little due diligence, it is probable for NRI’s to successfully invest in property in India for themselves and their family members. What all you required to do is invest a little time to understand the ins and outs of the governing nuances. NRI’s could transmit any immovable property to a person resident in …
Definition: Small Company means a company, other than a public company, • Paid-up share capital of which does not exceed Rs. 2 Crore; and • Turnover of which as per profit and loss account for the immediately preceding financial year does not exceed Rs. 20 Crore. Following companies shall not be considered as Small Company: …
Establishing up a private limited company is one of the highly endorsed ways to start a business in India. This category of the company offers limited liability for its shareholders with certain limitations placed on the ownership. A Limited Liability Partnership has partners, who own and manage their business. Although in Private Limited company registration, …
After the implementation of Goods and Services Tax (GST), the Government received some feedbacks on the advantages and disadvantages of GST. The GST acts as a Value Added Tax (VAT) and designed as a complete indirect tax charge on manufacture, sale, and consumption of goods as well as services at the national level. It shall …
Revolutionary companies are already conscious about benefits of internal audits, and they’re following audit transformation programs based on data analytics, artificial intelligence, and automation. If you have not grown there yet, learning about the advantages of internal audits is a wonderful place to start. Internal Audits: A Quick Overview Internal audits are a form of …
ISO (the alliance for Standardization) may be a worldwide federation of national standards bodies (ISO member bodies). The work of making ready International Standards is often dispensed through ISO technical committees. Every member body fascinated by an issue that a technical committee has been established has the correct to be pictured thereon committee. International organizations, …
MTSS (Money Transfer Service Scheme) is the most convenient option for the purpose of inward remittance of money abroad to India .It can be availed tourist travelling to India. Only Inward remittance in India is allowed. Under this , remittance can done in speedy & hassle-free manner. Inward remittance as it is known as under …