In this article we shall discuss about all the compliances that the below mentioned 3 types of charitable organisations, also known as NGOs need to follow. COMPLIANCES OF A TRUST Compulsory Audit of Accounts When the total income of a…

Incorporation of Wholly Owned subsidiary Company or Subsidiary Company of Foreign Company in India 1. Foreign Subsidiary A subsidiary company of foreign Company in relation to foreign holding means a company in which a foreign holding Company a. Control the…

What is the meaning of income tax? Taxes are of two types, namely, ‘Direct Tax’ and ‘Indirect Tax’. Taxes that are directly levied on the income is known as ‘Direct Tax’ For e.g. ‘Income Tax’. The income earned is divided…

FDI is one of the important tools of economic growth for a developing nation like India. So to boost the flow of foreign investment the process of liberalization is undertaken. However, liberalization of an economy always comes with regulations. Routes for FDI…

Introduction In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. However, doing business globally isn’t just a cup of tea for everyone. Before going global, you need to follow several…

Every business, as it grows, wants to expand its business globally, for this, it need to establish a subsidiary or branch or liaison office in other country/countries. It is also required to obtain prior permissions from the respective authorities of…

Introduction Digital Signature (DSC) is a signature in an electronic format. Digital Signatures are used in India for online transactions such as Filing Annual Return, Company or LLP Incorporation, Income Tax E-Filing, E-Tenders, etc. There are 3 types of Digital…

Introduction A chit fund is a type of rotating savings and credit association system practiced in Pakistan, India, Bangladesh, Sri Lanka and other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a…

Introduction Copyright is an intellectual property that gives exclusive right to reproduce or authorize another to reproduce artistic, dramatic, literary, or musical works. It also extends to sound broadcasting and cinematographic films. Copyright protection is limited to author’s particular expression…

mum 4 Board Meetings every year - A meeting of board of directors of the company should be held within 30 days of its incorporation. For this, a 7 days’ prior notice shall be given to the board of directors…

Introduction A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks. Customers identify a product by its trademark. Value and importance of…

MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. When these industries grow, the economy of the country grows as a whole and flourishes. This sector is the job creator as…

Introduction In India, population of youngsters is very high and maximum of youngsters have a dream to become entrepreneur. Some of them have a workable business idea in their mind and on paper but due to shortage of funds they…

WIntroduction The objective and purpose of patent law is to encourage scientific research, new technology and industrial projects. Grant of exclusive rights to own, use or sell the method or the product patented for a limited period stimulates new invention…

What is the meaning of income tax? Taxes are of two types, namely, ‘Direct Tax’ and ‘Indirect Tax’. Taxes that are directly levied on the income is known as ‘Direct Tax’ For e.g. ‘Income Tax’. The income earned is divided…

Introduction A producer company can be defined as a legally recognized body of farmers/agriculturists with the aim to improve the standard of their living and ensure a good status of their available support, incomes and profitability. Under Companies Act 1956,…

FDI is one of the important tools of economic growth for a developing nation like India. So to boost the flow of foreign investment the process of liberalization is undertaken. However, liberalization of an economy always comes with regulations. Routes for FDI…

In any tax system, registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned…

A GST return is a document containing details of all income/sales and/or expense/purchase which a taxpayer (every GSTIN) is required to file with the tax administrative authorities.…