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The Knowledge Corner

How to Start an Ice-Cream Parlour Business in India

Ice-cream is almost loved by every age group of people and is preferred as one of the most loved desserts in every season. Therefore, if you are wandering to start an Ice-cream parlour business in India, then you must go with it. It can bring you good revenue every month if the business is carried […]

Income Tax Return Filing, Slabs, ITR Forms, Benefits, e-Filing, Penalty

Income Tax Return (ITR) is no less than a nightmare to taxpayers. After all, who likes to pay tax? Possibly, nobody. But if you don’t file ITR in time, you would be in huge trouble.  Therefore, according to the Income Tax (IT) Act, 1961, every earning entity with a certain income is entitled to pay […]

Tax Audit under Section 44AB of the Income Tax Act, 1961

Tax audit is a mandatory inspection done by the practicing Chartered Accountant to ensure the details of the income provided by the taxpayer are accurate. As per Section 44AB of the Income Tax Act, 1961, the tax audit of an entity is imperative. If any business or professional under certain prescribed categories don’t undergo the […]

Generate Income Tax Form 16 for Salaried Person

Form 16 is issued under Section 203 of the Income Tax Act 1961 to salaried individuals by their employers. It is in the form of a document which contains the breakup of the entire salary details of the individual for a particular financial year and the tax liability that has been deducted from the salary. […]

A Precise Guide on OPC Compliance Requirements and Checklist

One Person Company, shortly known as OPC, is a kind of company established under the Companies Act, 2013 for the purpose of enabling a solo Entrepreneur to begin and manage the limited liability entity. The main purpose of the OPC establishment is to support lone individual Enterprises. Typically, OPCs have a low turnover when compared […]

Customer Friendly RERA Proving to be Encouraging for Private Equity Investors

RERA came into existence in the year 2016 and aims at protecting the rights of home buyers. It also helps in encouraging private equity investors by keeping a focus on their interests and assuring the safety of their invested money. In this blog, we will discuss mainly on how Customer friendly RERA encourages private equity […]

Things you must know before registering a Sole Proprietorship or a One-Person Company

The number of business entrepreneurs in India has been considerably increasing since the last two decades. When it comes to doing business independently, the best option opted by entrepreneurs is either Sole proprietorship or One-Person company (OPC). People often get confused with these two terms and use them interchangeably. However, these two terms are different […]

Tax Slab Rate & Deductions Applicable For Individuals for FY 2019 – 2020

The central authorities of all countries follow a certain tax structure that helps the government to collect revenue. Therefore, every country has a unique Tax Slab Rate. Moreover, people, from all walks of life, fall under the tax structure whether earning NIL or in lakhs or more than that. If you are associated with a […]

Assessment of Partnership Firm under the Income Tax Act

Partnership firm is not a separate legal entity from the person it constitutes of; however, for income tax purpose, it is considered as a separate legal entity.  A partnership firm can be assessed either as Partnership Assessed as Such (PFAS) or Partnership firm Assessed as Association of Person (PFAOP). The registration is not mandatory for […]

What is the Procedure for Due-Diligence of NBFC?

What is the procedure for due diligence of NBFC is the most important question, one may encounter before reaching the decision of takeover of NBFC or acquiring any right or control or before investing into it. Well, in this article we will enrich your knowledge on this most crucial topic, so lets us get started. […]

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