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TAX UPDATES

Meaning of Start up India

As we all know that Modi government has announced the benefits for start up India, here we discuss the meaning of start up India for the scheme and benefits of start up India. Meaning of Start up Business as per Start up scheme Entity covered under start up India – As we discuss in our earlier blog  there are various ... Read More »

Recent news on GST bill in India

Why G. S. T ? It is designed to simplify present indirect tax system by integrating the union excise duties, customs duties (CVD/SAD), service tax, central taxes (Central Excise Duties, ST, Surcharge & Cess, Excise Duties levied under the Medicinal & Toiletries Preparation Act), state taxes (Sales Tax/ Local VAT, CST, Purchase Tax, Entertainment Tax, Entry Tax, Taxes on lottery, ... Read More »

VAT and Service Tax on Work Contracts in Maharshtra

Today we try to simplify the very complicated topics VAT and Service Tax on Work Contracts. Definition of work contract service – In work contract service both supply of material and service is covered.  Vat is levied on supply of material and service tax is levied for providing of service. VAT and Service Tax Rate on Work Contracts in Maharashtra – There are ... Read More »

Service tax on export of software

Today we discuss on the applicability of service tax on export of software. for applicability we have to check the definition of export in service tax. The taxable services, which are exported, are exempted from service tax. Definition of Export of Service According to the rule 6A of Service Tax Rules 1994 – (Export of Services), any service provided or agreed ... Read More »

Penalty under Companies Act 2013

Today we are discussing on Penalty under Companies Act 2013. In this blog we will discuss cases where penalty can be imposed under companies act 2013 and amount of penalty also we will discuss who is liable for the penalty as per companies act 2013. Penalty under Companies Act 2013 Cases where penalty can be imposed under Companies Act 2013 Section Particulars Who is liable Amount of penalty 4(5)(ii) ... Read More »

Annual Return MGT-7 as per company act 2013

Today we will discuss on the Annual Return MGT-7 as per company act 2013 what are the documents required for MGT-7. where to obtained the Form for MGT-7 and time limit for filing the MGT-7 as per company act 2013. REQUIREMENT LIST FOR PREPARING Annual Return MGT-7 SR NO. Required Information 1 Date of AGM 2 Contact details including phone no. ... Read More »

ROC Compliance for Small and Normal Pvt Ltd Company

Today we are discuss on ROC Compliance for Small and Normal Pvt Ltd Company , Difference between  Small Pvt Ltd and Normal Pvt Ltd. Since the Companies Act has bifurcated the Private Limited Companies in 2 Parts i.e. Small Pvt Ltd and Normal Pvt Ltd. In this blog will discuss on meaning of of Small Pvt Ltd and Normal Pvt Ltd  and ... Read More »

2+1 Tips to handle Manual scrurity of service tax

Today we discuss Tips to handle Manual scrurity of service tax. Now a days service tax department is issuing notice to the small service tax payers who pay service tax amount less than  laks in a year and does not come under preview of service tax audit. In this blog will share the information how we can avoid and handle ... Read More »

Corporate Social Responsibility

Corporate Social Responsibility comprises of three words: Corporate Social Responsible It means responsibilities of corporates to society at large. What is Corporate Social Responsibility? Corporate Social Responsibility meansgoverning the affairs of an organization in conformity with the good governance, transparency, business ethics and accountable to both shareholders and the society at large. In other words running the affairs of an ... Read More »