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- What is Section 43B of the Income Tax Act?Introduction Section 43B of the Income Tax Act is an important provision which deals with various types of expenses allowed as deduction. It lays down the conditions for claiming deductions for certain expenses incurred by businesses and individuals. In this blog, we will take a closer look at Section 43B and understand its various aspects. What is Section 43B of the Income Tax Act? Section 43B...0 Comments 0 Shares 438 ViewsPlease log in to like, share and comment!
- What are the ways to reduce your income tax?Introduction People are always looking for ways to pay less income tax and there are numerous ways to accomplish this. Everyone wants to save more money and build a strong financial future that can support them even in the absence of regular income. Savings are critical to the achievement of any financial strategy, and for good reason. Paying income tax on all your taxable income, however, can...0 Comments 0 Shares 428 Views
- What are the responsibility of an Independent Director in a Company?Introduction Independent director refers to a director who is not connected or related to the company in anyway and acts only to protect the interest of the members who cannot look after their interests themselves. One of his main responsibilities is to improve corporate governance and their standards. In this blog, we will discuss the responsibilities and duties of an independent director but...0 Comments 0 Shares 489 Views
- Differences Between Trademark Assignment & Trademark LicensingIntroduction A key difference between trademark assignment and trademark licensing is that the assignment of a registered trademark is a change in ownership. Trademark licensing, on the other hand, is the transfer of certain rights (in a limited way) to a registered trademark while retaining ownership of the trademark. First let’s go, “What are trademark assignments and...0 Comments 0 Shares 621 Views
- Reverse Charge Mechanism v/s Forward Charge MechanismIntroduction Reverse Charge Mechanism (RCM) and Forward Charge Mechanism (FCM) are two different methods of levying tax on goods and services. RCM is a system in which the recipient of goods or services is liable to pay tax to the government instead of the supplier. On the other hand, FCM is a system in which the supplier of goods or services is responsible for collecting and paying...0 Comments 0 Shares 596 Views
- All you need to know about Section 194F of the Income Tax ActIntroduction The Income Tax Act of India governs the taxation of income earned by individuals, companies and other entities. Section 194F is one of the sections of the Act, which deals with tax deduction (TDS) on payments made for lottery, crossword puzzle, card game or other game-related profits. This article aims to provide a comprehensive understanding of Section 194F and its...0 Comments 0 Shares 579 Views
- Different Types of Correction in TDS Return in IndiaIntroduction The idea of TDS was introduced with the aim of levying tax at the source of income itself. Tax filing is a time-consuming process subject to inevitable mistakes. TDS returns and statements should be accurate. However, the Income Tax Department has started the process of submitting revised TDS returns “Correction Returns/Statements” to correct any error in the...0 Comments 0 Shares 716 Views
- What is Farmer Producer Organization in India?Introduction New guidelines for Farmer Producer Organizations (FPOs) were published by the Ministry of Agriculture and Farmers Welfare as part of a plan to create and promote 10,000 Farmer Producer Organizations (FPOs). According to the updated rules, FPOs can be registered under the Companies Act 2013 or the State Cooperative Societies Act, with management responsibilities required for...0 Comments 0 Shares 694 Views
- Entrenchment in Articles of Association (AOA)Introduction A company’s articles of association outline the procedures that result in the efficient management of the company. Such procedures include the manner of holding board meetings, the manner of decision-making and any other procedure that helps the company run effectively. Therefore, a company’s articles of association are often known as the company’s...0 Comments 0 Shares 750 Views
- Appointment of KMP in a CompanyIntroduction A new concept of “Key Managerial Personnel” (KMP) was created by the Companies Act of 2013, with the intention of merging all heads of companies under one head. It contributes significantly to the daily operations of the company and helps in achieving its objectives. Hence, appointment of KMP is essential for any company. The legal definition of KMP is provided...0 Comments 0 Shares 784 Views
- All You Need To About Form 15CA and Form 15CBIntroduction In the course of business, it happens that many payments are made outside India. When payments are made outside India, there are certain compliances that need to be followed and tax deduction is required for any amount that is taxable under the Income Tax Act. The purpose of this compliance is to collect information regarding payments that are chargeable to tax in the hands of...0 Comments 0 Shares 689 Views
- How to Start Your Accounting Business in the USAIntroduction Accounting is a more diverse profession than many people realize and can offer both long-term employer stability and the freedom of self-employment. Starting your own business is a daunting task, but the path to self-employment in accounting is carefully planned. In this article, we will discuss “How to start an accounting business in the USA?” We will try to...0 Comments 0 Shares 714 Views
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