compliance

What is Cost Audit and how to get it done

What is Cost Audit and how to get it done

                                                         What is Cost audit and When it is required      Cost Audit: - It represent the authenticity of cost accounts and cost…

INC-22A e-Active Form(Active Company Tagging Identities and Verification)

INC-22A e-Active Form(Active Company Tagging Identities and Verification)

The ministry of corporate and affairs under the company law mandate the companies to fill out the E-form INC-22A for the address recognition while the form(INC-22A ACTIVE form)This new form is applicable to all registered companies, whether register companies Act 2013 or Act 1956. Why this form is given: Another…

What are the implications to file wrong Income Tax Return or Taxes?

What are the implications to file wrong Income Tax Return or Taxes?

What are the implications to file wrong Income Tax Return or Taxes?   When the tax season Comes, many people wants to complete their Income tax returns. Firstly, because they look forward to a possible refund. Secondly, because it is good practice to reduce your risk of identity theft by…

How to authenticate information on NeSL?

How to authenticate information on NeSL?

Nowadays, many Bank Customers have been receiving mail for authentication of their bank loans on NeSL (or National e-Governance Services Limited) Different type of loans like Mortgage Loan, Vehicle Loans, Housing Loan, etc. are required to be authenticated on NeSL as per the provisions of the Insolvency & Bankruptcy Code…

Registered office and maintenance of Books of Accounts

Registered office and maintenance of Books of Accounts

Registered office for a Company The registered office of a company is the main office of the Company to which all official communications pertaining to a Company is sent. Every company shall require having a registered office to receive and acknowledging all communications letters and notices as may be addressed…

Employee Pension Scheme in Provident Fund

Employee Pension Scheme in Provident Fund

Employee Pension Scheme in Provident Fund Index:- What is EPS? Eligibility to avail EPS Benefits Features of EPS EPS Eligibility Service Calculation Contribution towards EPS How to Check EPS Balance EPS Withdrawal Rule   What is EPS? The scheme managed by the Employees Provident Fund Organisation and ensures that employees…

Compliance required to be done by Companies under income tax /GST & TDS

Compliance required to be done by Companies under income tax /GST & TDS

Following Compliance need to be done by company during the financial year in respect of income tax Act, GST Act and TDS      Income tax Act and GST:- a) Regarding Advance Taxes  : Every company is required pay advance taxes if tax liability is more than 10,000 in financial year. 1st Instalment:…

ESIC Registration, Applicability and Benefits

ESIC Registration, Applicability and Benefits

ESIC Registration, Applicability and Benefits Index: What is ESIC? Applicability of ESIC Required Documents for ESIC Registration ESIC Contribution rates and Deposit rule ESIC Registration Benefits   What is ESIC? ESIC Stands for Employee State Insurance (ESI), Basically ESI managed by govt. of India and its all administrative activities covered…

Countervailing Duty - A Boon for Indian Producers

Countervailing Duty - A Boon for Indian Producers

Countervailing Duty - A Boon for Indian Producers   Index: What is Custom Duty? Types of Custom Duties Countervailing Duty (Additional Duty) What it is? Why it is levied? How it benefits the Economy? Conclusion   What is Custom Duty? Customs duty is a type of indirect tax levied on…

Conversion of OPC to Private Limited

Conversion of OPC to Private Limited

Conversion of OPC to Private Limited What is the Conversion of One Person Company? Company conversion means the conversion of the company from one type to another type of company. A one Person Company (OPC) can be converted into a normal Private Limited or Public Limited company by way of voluntarily…

Food License Registration and for whom it is mandatory

Food License Registration and for whom it is mandatory

FSSAI is a contraction for Food Safety and Security Authority of India. It is an organization which is controlled by the Indian Government and the Ministry of Health and Family Affairs. FSSAI is perceived under sanitation and security Act, 2006. It is an organization which is made for protecting the…

The Mandatory Compliance for LLP

The Mandatory Compliance for LLP

Every LLP registered with MCA should follow the specific compliance and practical approach related to it. Each LLP needs to follow the minimum required compliance to keep away from being defaulter and to avoid future penalties or unfriendly results. The mandatory compliance for compliance of any LLP is given below:…

ISO Certification for PPE Kits/Medical Devices/Surgical Mask 

ISO Certification for PPE Kits/Medical Devices/Surgical Mask 

Over a few years, there have been significant changes to certify PPE when used by Healthcare Professionals. We have noticed that most of the manufacturers of medical devices and PPE kits are confused in the standards. In the time of urgency and when a different type of certification is being…

Incorporation of Foreign Subsidiary in India

Incorporation of Foreign Subsidiary in India

Incorporation of Foreign Subsidiary in India Foreign Subsidiary Company: Foreign Subsidiary company is a company owned and controlled by another company and located in a country other than the parent company or holding company.  The owning company is called a parent company or Holding company of the subsidiary company. Benefits…

PF Withdrawal Amendments Due to Corona Virus Pandemic

PF Withdrawal Amendments Due to Corona Virus Pandemic

  PF Withdrawal Amendments Due to Corona Virus Pandemic   As we all know the whole world is going through with the Pandemic and its spreading drastically in the world. If we talk about country like India so only one thing came in mind i.e. liquidity because our economy is…

Compliance of Form 61A of Income Tax Act – Statement of Specified Financial Transactions ( SFT )

Compliance of Form 61A of Income Tax Act – Statement of Specified Financial Transactions ( SFT )

Form 61A of Income Tax Act – Statement of Specified Financial Transactions ( SFT )   Section 285BA of the IT Act requires specified reporting persons to furnish statement of monetary transaction. Rule 114E of the IT Rules, 1962 provides that the statement of financial transaction needs to be furnished…

Benefits of Registration under MSME  Scheme

Benefits of Registration under MSME Scheme

                                                                                       Benefits of Taking MSME Registration   Content:-…

Can ISO 9001 be used for any Industry and why your organisation need an ISO certification

Can ISO 9001 be used for any Industry and why your organisation need an ISO certification

ISO 9001 sets out the criteria for a quality management system and an alone certificate can be used by any small or large organisation irrespective work profile of the company. ISO 9001 is the international standard for a quality management system. To become an ISO certified one has to follow…

Government announces Relief Package for MSME Sector

Government announces Relief Package for MSME Sector

The Hon'ble Prime Minister of India address his nation on 13th May'2020 and stated few benifits for MSME's.   Following is the announcement of Relief Package of Rs. 20 Lakh Crore by Hon’ble Prime Minister in his address to the nation, Hon’ble Finance Minister announced various measures for the MSME…

Other Service Providers (OSP), validity and compliances

Other Service Providers (OSP), validity and compliances

    As per New Telecom Policy (NTP) 1999, Other Service Providers (OSP), such as tele-banking, tele-medicine, tele-trading, e-commerce etc will be allowed to operate by using the infrastructure provided by various access providers for non-telecom services. The Telecom Commission in May 1999, accorded in principle approval for registration of…

Who need to sign the supplementary agreement?

Who need to sign the supplementary agreement?

What are Supplemental Agreements?   Mutually consented agreement that modifies but does not replace an existing agreement. A supplemental agreement can be used in a number of different circumstances. As the name suggests, a supplemental agreement is generally used to supplement some other agreement already in existence. Thus, it is normally a…

Who must obtain IE code Registration?

Who must obtain IE code Registration?

  What is IE Code and who must obtain IE code Registration? Import Export Code is a type of license required for businessmen for carrying on the business of import or export of goods and services to/from India. This certificate is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government…

Whether it is mandatory for a person to have DSC to file DIR-3 KYC

Whether it is mandatory for a person to have DSC to file DIR-3 KYC

DIR-3 KYC – Form for KYC of Directors DIN is a unique identification number for each Director. An application in eForm DIR-3 is required to be filed to obtain a DIN. The same DIN can be used in more than one company. However, now the MCA plans to get the…

When is it mandatory to file return electronically with digital signature?

When is it mandatory to file return electronically with digital signature?

                                                                         When It is mandatory to file return electronically with digital signature?   Meaning of…

Import Export Code (IEC)

Import Export Code (IEC)

Import Export Code is a type of license required for businessmen for carrying on the business of import or export of goods and services to/from India. This certificate is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. It is valid throughout the life of the business and…

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