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Salary Income – Answer to Common issues

In this article we will explain what is Salary Income? What are allowance? What is TDS on Salary, Taxability of Reimbursement of Expenses? What is Form 12BB? When relief under Income Tax Act- section 89 is available, standard deduction on Salary, effective date of enhancement of limit of gratuity from INR 10 lacs – INR 20 lacs for purpose of tax exemption computation u/s 10(10)(ii) etc. A salary is a… Read More »Salary Income – Answer to Common issues

Incorporation of Private Limited Company – FAQ’s

In this competitive corporate world starting a new business as single entrepreneur is not a good idea. Because in case of proprietorship business, liability of business owner is unlimited and they also struggle to get the funds and better human resources. Nowadays, many people are preferring to join a corporate entity instead of joining a proprietorship business. In this article, we will discuss about the FAQ’s related to Incorporation of… Read More »Incorporation of Private Limited Company – FAQ’s

Setting Up of Business in India

India got ranking on the World Bank’s Doing Business Report, India has improved from 142nd position in 2014 to 63rd position in 2020. The ease of doing business index of India has been improved over the past few years. To set up business in India needs diverse process and procedures, which should be adhered to so your business can run with ease and result in maximum profits with smooth compliances.… Read More »Setting Up of Business in India

Tax Exemptions Available For Startups in India

As per the Section 2(40) of Companies act, 2013, startup means A private company which is registered under company act, 2013 or any previous act Recognized as startup in accordance with DIPP (Department of Industrial Policy and promotions). In order to accelerate prevalence to startup movement in India, Government had announced an action plan known as the Startup India initiative that covers all the aspects of startup ecosystems. The main… Read More »Tax Exemptions Available For Startups in India

What is a Business Risk and How can it be identified?

Business risk is defined as the factors that will lower company’s profits or lead to its failure. Business risk can happen because of internal as well as external factors of company. It is practically not possible for a company to completely shelter itself from any kind of risk. The only way is to reduce the overall risks associated with the business by creating a strong risk management strategy. The type… Read More »What is a Business Risk and How can it be identified?

What are the Impact of Robotics in Accounting?

Robotic Process Automation (RPA) has become one of the fast-growing concepts in globe where the world economy and market climate change in the blink of an eye. By deploying a machine bot to manage labor-intensive and repetitive activities, companies can optimize business processes. What is Robotic Process Automation (RPA)? Robotic Process Automation (RPA) is a technique of automating processes using intelligent software robots (bots) that identify and simulate human interactions… Read More »What are the Impact of Robotics in Accounting?

Business Registration Options For Crowd Funding

Section 8 Company is Company built with the purpose of promotion of commerce, art, science, sports, social welfare, religion, charity, education, research, protection of environment or any such other object. It is established mostly for charitable or not-for-profit purposes. What are the Features of Section 8 Company? Section 8 Company does not need a prescribed minimum paid-up share capital. Members’s liabilities of Section 8 Company are limited to their capital… Read More »Business Registration Options For Crowd Funding

Charge and Hypothication under Companies Act, 2013

Charge according to the Companies Act, 2013 – section 2(16) refers to interest creation or a right on a property/asset of a company as a security against loan provided to the company in respect of such interest. Charge is created by Companies who have the requirement of financial assistance to make their companies productive and in doing so creating any right or interest in assets of companies. Charge also includes… Read More »Charge and Hypothication under Companies Act, 2013