What is a Private Limited Company? A private limited company is a business entity registered under the Companies Act, 2013 and owned and managed by a group of members known as shareholders. The characteristics of a private limited company include: Ownership: The shareholders are the owners of a private
As any successful business organization out there would agree, Payroll plays a pivotal role in their success. This due to a basic fact, whether you like it or not, that everyone is ultimately working for the money! It serves as an important criterion to measure the trust and appreciation that
With startups spurring all across the nation, the need for registered business is at an all-time high. With the introduction of new rules and easing of doing business, registering a company has been “super easy!” On the other hand, the various initiatives like Startup India programs, an increasing number of
“START-UP INDIA, STAND-UP INDIA” Recognizing start-ups as a crucial contributor to the economic growth of the country is easily the most welcoming decision taken by Shri Narendra Modi since 2014. Before this, most of the laws, rules, and regulations were framed in the country without appreciating the fact that Start-ups
With the spread of COVID-19 causing delays in meeting various deadlines, Hon’ble Finance Minister Nirmala Sitharaman announced few significant reliefs on 24th March 2020. INCOME TAX The last date to file a belated/revised income tax return for FY 2018-2019 extended from 31st March 2020 to 30th June 2020. Interest on
Fin Min chaired, 39th GST council meeting has just concluded and following significant decisions were taken : GST on mobile phones increased from 12% to 18% w.e.f 01st April 2020 New GST return system deferred till September 2020 The due date for GSTR 9 & GSTR 9C for FY 2018-2019
Why is accounting and bookkeeping essential for a startup? A business without effective accounting or bookkeeping is as dead as a fish out of water. For most, bookkeeping may sound and seem insignificant or perhaps excessive. Especially if you are a budding entrepreneur or an SME with each foot on
Five years ago, incorporating a Company in 2-3 days (over even in two-three weeks) in India seemed a distant dream. Even worse, the process did not just end there! Post-registration, it took forever to obtain a PAN, open a bank account, and tax registrations. But with the intent of improving
Amidst low GDP estimates, tanking share market, and growing danger of coronavirus, there is finally something to cheer about. As a part of ongoing initiatives to improve ease of doing business, the Ministry of Corporate Affairs (MCA) has introduced an amnesty scheme under the Limited Liability Partnership Act, 2008 –