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In the dynamic landscape of innovation, protecting intellectual property (IP) rights is paramount for inventors and businesses alike. Patents serve as a crucial tool for safeguarding inventions and fostering innovation by granting exclusive rights to inventors for a limited period. However, obtaining a patent requires navigating a complex process, starting with a thorough patent search … Read more
In the corporate world, different types of companies exist, each with its unique characteristics and legal requirements. This article aims to highlight the differences between Private Companies, Public Companies, and One Person Companies (OPCs) based on various aspects such as applicable sections, capital requirements, number of members and directors, transferability of shares, public issue provisions, … Read more
The Finance Minister has introduced a new tax rate structure for salaried employees: New Tax Rate Structure: ₹0-3 lakh: NIL₹3-7 lakh: 5 percent₹7-10 lakh: 10 percent₹10-12 lakh: 15 percent₹12-15 lakh: 20 percentAbove ₹15 lakh: 30 percent Education Budget 2024 Updates: The Central government will provide Rs 1.48 lakh crore for education and employment and skill, announced … Read more
You can definitely file your income tax return on your own. Income tax e filing portal is very user friendly where anyone with basic knowledge of income tax can file their return. But I will recommend you to file the income tax return with the proper advice of a Chartered accountant. I have many clients … Read more
Festivals create a substantial economic boom, generating increased consumer spending, promoting tourism, and supporting various industries. Festivals bring happiness to a lot of faces. From years we can notice that the economy starts to prosper during the festive season. A lot of people are solely dependent on festivals to earn their bread. Let’s know how … Read more
A chartered accountant (CA) is a financial professional who is qualified to execute certain accounting procedures. It also refers to an accounting designation granted internationally to individuals aside from the United States. CAs work in four main areas, including applied finance, financial accounting and reporting, management accounting, and taxation. Their responsibilities may include filing taxes … Read more
Annual Compliance means a specific set of Compliance that a company has to fulfill post-incorporation to commence and continue its operations. Under the Companies Act 2013, various compliances must be completed every Year. Failure to comply with such Compliance may result in the Company’s strike-off and its directors’ disqualification. As part of annual Compliance, various returns … Read more
In December 2023, the Income Tax department tweaked ITR forms 1 and 4 notified for Assessment Year 2024-25. The Central Board of Direct Taxes (CBDT) has introduced many additional reporting requirements and modifications due to the Finance Act 2023 amendments. ITR filing AY 2024-25: The Income Tax department time to time introduces changes in tax … Read more
Step 1 – Creation of the invoice on the taxpayer’s ERP The taxpayer will continue to generate invoices in the normal course of business. However, the reporting of these invoices electronically has criteria. It needs to be done as per the e-invoice schema along with mandatory parameters. This is a one-time step for those who want to … Read more
Starting a new business venture can be a daunting task, and there are many important decisions to be made along the way. One of the most crucial decisions you will make is whether or not to register your company. incorporate your company is an essential step for any business, regardless of size or industry. Legal … Read more