Spice+ (INC-32) (Simplified Proforma for Incorporating Company electronically Plus)

Introduction:SPICe+ is an integrated web form offering 10 services by 3 Central Government Ministries & Departments. (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance) and One State Government (Maharashtra), thereby savi[...]

Companies Fresh Start Scheme, 2020

Introduction:In pursuance of the Government of India’s efforts to provide relief to law abiding companies in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020” to provide opportunity to companies to make go[...]

Advisory on Preventive Measures to Contain the Spread of COVID-19

Taking cognizance of the gravity of the public health situation, the Government in the Ministry of Corporate Affairs has relaxed the rules with respect to meetings of the board and dispensed with the necessity of holding physical meetings on matters relating approval of finan[...]

GST Input Credit Restriction

Cases Where Input Tax Credit under GST Cannot Be Availed ·        Motor vehicles & conveyance ITC is not available for Motor vehicles used to transport persons, having a seating capacity of less than or equal to 13 persons (including[...]

Provident Fund

In 1952, the PF or EPF scheme was introduced under the Employee’s Provident Fund and Miscellaneous Act. All the rules and regulations are defined by the Employee Provident Fund Organisation. The EPFO’s activities are managed by the Ministry of Labour and Employment.In this pr[...]

ITC on Construction Materials Used for Construction of Immovable Property

As per Sec 16(1) of CGST act, it has put forth that every registered person is eligible to take credit of input tax charged on any supply of goods and services or both to him which are used or intended to be used in the course of business or furtherance of business. Whatever amou[...]

Procedure of Incorporating LLP

Introduction:There are various forms of business entities in India, like the formation of a sole proprietorship, HUF, Partnership Firm, Limited Liability Partnership, One Person Company, Private Limited Company, Public Limited Company, etc.LLP is a corporate business vehicle that[...]

Formation of Partnership Firm

In India, we have a definite law that covers all aspects and functioning of a Partnership. Two or more people, when come together with a common idea of business by infusing the sources and funds together with the common goal of earning profit is termed as Partnership. Partnership[...]

Exemption Under Section 54EC

Capital Asset:Capital Asset includes property of any kind, whether movable or immovable, tangible or intangible, fixed or circulating. Some of the examples of Capital assets are land, building, plant and machinery, motor car, jewelry, furniture, patent, trademarks, share, debentu[...]

E-Assessment Scheme

This scheme seeks to eliminate the interface between the taxpayer and the income tax department.Structure of E-AssessmentA. Notice assigned directly to the assessee  by E-Assessment Centre.Notice Under Sec 143(2) would be served by the Income Tax Department to the taxpa[...]

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