The partnership organisation was started with the enactment of Partnership Act, 1907 in England and in India the Partnership Act was initially enacted in 1932. The Act governs the formation, management and control of various activities in partnership. According to Partnership Act, 1932 the partners involved in the business are made unlimitedly liable towards the…
The articles of the Indian Constitution are the source of the labour laws’ genesis, authority, and power. The importance of human labour’s dignity, as well as the necessity to defend and safeguard labour’s interests as human beings, have been incorporated in Chapters III and IV of the Indian Constitution, following Fundamental Rights and Directive Principles…
For individuals, proudly owning a house is a dream comes true. The Indian authorities have usually proven a robust choice to inspire people to own personal space. This is why a house loan is tax-deductible beneath segment 80C. And while one purchases belongings with a home loan, one gets a slew of tax breaks that…
Provident Fund revenue has been tax-free for many years. As with old provisions, at least 12% of salary should have been paid to the employer and employee in the Provident Fund. More than 12% of an employer’s salary was tax-deductible. To bring more benefits to higher-income earners under tax revenues, the Union Budget 2020 has…
Form 16 is a TDS certificate that lists out the taxable income to be paid to the government thus, every employee/ salaried individual has to obtain Form 16 from employer to file an Income Tax Return (ITR) every year. Contingent upon the employer has to provide with the Form 16 and in case of non-providence…
We’ve all heard about India’s accomplishment at the 2020 Tokyo Olympic Games. Whether that was Neeraj Chopra’s gold or Mirabai Chanu’s silver or our women’s hockey team’s medal from afar, they have all made the nation pleased. Indeed, their triumphs have fuelled the desire of the players of our future generation to pursue sports as…
Form MGT 9 is an annual return filled by the company with ROC via MCA, MGT 9 is filled in accordance with Section 134 of Companies Act, 2013. However, this provision has been amended in 2017 w.e.f 31st July’ 2018 and in accordance with the amendment the provision in relation with MGT 9 has been…
The very concept of ease of doing business was introduce by World Bank taking the survey from Delhi and Mumbai and later the same was introduced by Hon’ble Prime Minister of India to ensure and utilize the intellect of the nationals to invent and promote “Make in India” moment. The preeminent aspiration term behind this…
Now while making Purchases of Goods you need to keep in mind for this all new Section 194Q of the Income Tax Act, which is introduced through the Finance Act – 2021, bringing in new TDS provisions on the purchase of goods. This became effective from 01/07/2021. So, let us now dive into the details…