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GST RECONCILIATION – What, Why & How

GST RECONCILIATION – What, Why & How

Admin 07 Jun, 2021

Though this term has not been explained under GST, if we refer to accounting, reconciliation is the process of securing that two sets of records i.e. the balances of two accounts are in alignment. Reconciliation is used to ensure that the money deducting from an account matches the actual money spent which is done by making sure that the balances match at the end of a particular accounting period. Reconciliation holds importance under taxation because it can give rise to tax under paid or over paid or not paid.
Top 10 Benefits of Having Import Export Code

Top 10 Benefits of Having Import Export Code

Admin 26 Aug, 2021

Import export code or IEC is obtained by businesses for import into or export from India as part of Business transaction. Registration of the IEC code is applied under the foreign trade act 1992.
Works Contract Under GST

Works Contract Under GST

Admin 12 Aug, 2021

A works contract is a contract of service which may also include supply of goods in the contract. Basically, works contract is a composite supply of both goods and services.
7 Financial Tips For Entrepreneurs

7 Financial Tips For Entrepreneurs

Admin 11 Aug, 2021

Financial managementis a key activity in any organization. It is a crucial part of starting and running a business, big or small. 
Top 10 Benefits of UDYAM Registration Certificate

Top 10 Benefits of UDYAM Registration Certificate

Admin 05 Aug, 2021

On 1st July 2020, Udyam registration was introduced by the Indian government for classifications of Business enterprises as Micro, Small and Medium size enterprises and their registration in Udyam website.
TDS ON PURCHASE OF GOODS - SECTION 194 Q

SECTION 194Q OF THE INCOME TAX ACT 1961-TDS ON PURCHASE OF GOODS

Admin 04 Aug, 2021

Any person, being a buyer who is responsible for paying any sum to Seller for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1 per cent. of such sum exceeding fifty lakh rupees as income-tax
How to Obtain an FSSAI License for Restaurants

How to Obtain an FSSAI License for Restaurants

Admin 30 Jul, 2021

There are infinite numbers of business ideas are available but the food business is the most popular and common business in India. India is known for its food across the globe. But, did you know that you need an FSSAI license to run a food-related business in India? Without FSSAI registration and obtaining the license, you are not allowed to run a food business in India.
Advantages and Disadvantages of OPC Registration

Advantages and Disadvantages of OPC Registration

Admin 09 Jul, 2021

India is known for its business market in the world because it is growing fastest in the world. This is the reason why people moving towards investing in their own business by quitting their jobs. Many foreign companies and investors have entities in India.
Company Registration Online – How to Register a Company Online in India

Company Registration Online – How to Register a Company Online in India

Admin 01 Jul, 2021

Everyone knows the value of money and time they invest in starting a company. The main thing that matters and important as the other business activity is choosing, what would be the best company structure for a business? Registering with the right company will help you in completing business processes efficiently in order to achieve the business goals that you have made.
how to Save Income Tax on Salary Income

How to Save Income Tax on Salary Income

Admin 08 Jun, 2021

As soon as the Assessment year comes, the salaried class gets agitated about their tax returns. For you it is foremost to understand the tax slab and what is the meaning of each of your salary breakup component. By acknowledging this, you can figure out how to save tax. Let us understand about your salary components and how you can save tax on your salary income point by point.
Benefits and Advantages of ISO Certification

Benefits and Advantages of ISO Certification

Admin 08 Jun, 2021

Today in this blog, we will discuss the ISO certification and its benefits to your business. ISO standards improve your business or brand’s credibility and help organizations run tier business processes effectively. It is proof from a third party that your business concurrence with the standards of ISO management to keep their services & products of better quality is crucial for any business to sustain in the industry market.
Sole Proprietorship Firm Registration in Delhi

Sole Proprietorship Firm Registration in Delhi

Admin 08 Sep, 2022

Nowadays, it is easy to register any kind of company online from the official site. A sole proprietor can register his sole proprietorship firm easily from the online site.
Advantages and Disadvantages of Private Limited Company

Advantages and Disadvantages of Private Limited Company

Admin 01 Jun, 2021

Planning to start a business? There are many questions revolving inside your head. Some question that strikes everyone’s mind while starting a business. Whether to go for a private limited company or not? What are the pros and cons of a private limited company? Is it a good idea to go for a private limited company?
Deferred Tax- Tax Effect of Temporary Differences

Deferred Tax- Tax Effect of Temporary Differences

Admin 22 May, 2021

Deferred tax is the tax for those items which are accounted in Profit & Loss A/c but not accounted in taxable income which may be accounted in taxable income in future & vice versa. It shall either be paid or has already been settled due to momentary inconsistency between an organization’s income statement and tax statement. The word Deferred has been derived from the word “Deferments” which means setting out for something to happen at a future date.

Conversion of Private Limited Company into LLP

Conversion of Private Limited Company into LLP

Admin 21 May, 2021

This article covers the concept of conversion of private limited company into LLP. LLP is a body corporate and a legal entity being separate from its partners. It can continue its existence even after the retirement, insolvency or even death of one or more partners. LLP is an organization which acts as a hybrid between a company and a partnership firm. The concept of LLP was introduced in India by way of the Limited Liability Partnership Act, 2008. It is a form of a business that offers benefits of limited liability to partners. LLP is a legal body liable for full extent of its assets but the liability of partners is limited. It gives the freedom of a partnership firm as well as the limited liability feature of a company so that one partner is not liable for another partner’s misconduct or negligence.
What’s The Process to Patent a Concept in India?

What’s The Process to Patent a Concept in India?

Admin 07 Sep, 2021

A very common question asked by a lot of people is "Can I patent a concept or idea?"  The answer to this question is technically you cannot. 
Conversion of Sole Proprietorship into Private Limited Partnership

Conversion of Sole Proprietorship into Private Limited Company

Admin 13 Sep, 2021

Many small business owners start their business as a sole proprietorship in India.  A private limited company is a company which is privately held by shareholders of the company. 
How to Set up an ECommerce Business in India?

How to Set up an ECommerce Business in India?

Admin 17 Sep, 2021

There is no doubt that the opportunity of selling online in today’s market scenario has helped a lot of businesses to grow and expand. The increased use of smartphones has led to a major inflow of investments in e-commerce startups.
Top 10 Benefits of Digital Signature Certificate

Top 10 Benefits of Digital Signature Certificate

Admin 29 Sep, 2021

In this online era, everything has become digitized and e-signing is no exception. DSC (Digital signature certificate) has become a reality in many industries and is growing by every passing second.
How to File ITR Online as a Salaried Person?

How to File ITR Online as a Salaried Person?

Admin 05 Oct, 2021

When it comes to filing income tax returns (ITR), the question on most taxpayer's minds is "How to file an income tax return for salaried individuals.