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Section 206C (1H)

The Finance Act, 2020 has introduced a new sub-section i.e., (1H) under Section 206C of the Income Tax Act, 1961.

Internal Financial Control

For establishing or implementing Corporate Governance in India, Ministry of Corporate Affairs (MCA) and SEBI Authorities have introduced various new Norms or...

Things To know for Business Startups

We are presenting a few basic points to be kept in mind before getting in the field of business. Before starting their own venture one must take proper care to decide on these three aspects very effectively:

Service Tax Registration

Section 66B of The Finance Act 1994 defines Service Tax and its chargeability. It is a tax levied by Central Government of India on services provided or to be provided excluding services covered under negative list.

Loan to Private Companies by Directors Relatives

The Ministry of Corporate Affairs has come out with relief vide its notification dated 15.09.2015 where it has provided that from 15.09.2015 onwards, a private limited company can accept unsecured loans from a relative(may or may not be shareholder) of Director.

15CA-CB: Overview

Section 195 (6) requires the person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum, whether or not chargeable under the provisions of this Act, to furnish the information relating to payment of such sum, in such form and manner, as may be prescribed.

Applicability of Internal Audit

Section 138 of the Companies Act, 2013 read with Rule 13 of Companies (Accounts) Rules, 2014 requires the following classes of Companies to appoint an Internal Auditor, who shall either be a Chartered Accountant, Cost Accountant, or such other professional as may be decided by the Board to conduct.

Article for Salaried Employees

Ideally everyone should plan their tax saving from start of the financial year but often people tend to overlook this matter. Salaried employees must remember these common tax issues and how to deal with the same.

Things to know before Business Startups

We are presenting a few basic points to be kept in mind before getting in the field of business. Before starting their own venture one must take proper care to decide on these three aspects very effectively.

Form 15G & 15H Procedure Simplified

The Income Tax Department, along with the other transitions has also brought in amendments with regard to submission of Form 15G/ 15H vide its Notification No. 76/2015 dated 29th September, 2015.

Presumptive Taxation Scheme u/s 44AD

To provide relief to small businessmen, the Income Tax Department has incorporated schemes in the Income Tax Law which exempt the assessees from maintaining proper books of accounts and getting them audited.

Registration By NGO For Taking CSR

To provide relief to small businessmen, the Income Tax Department has incorporated schemes in the Income Tax Law which exempt the assessees from maintaining proper books of accounts and getting them audited.


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