Bill-to-ship-to transactions are a common practice in today’s business scenario. These transactions involve supplies where goods are to be delivered to the recipient on the instruction of a third party i.e. bill to. The Goods and Service Tax is an…
TDS Deduction from Salary- It is the liability of the employer to deduct tax at source from salary under section 192 of the Income Tax Act, 1961. Tax must be deducted at the average rate calculated based on the rates…
Under the GST law, the input tax credit can be availed by a registered person on goods/services used during business subject to satisfaction of conditions and restrictions set out therein. Accordingly, such a person can avail the ITC on the…
ITC means credit of input tax. Input tax means the central tax, State tax, integrated tax, or Union territory tax paid on receipt of goods or services from the registered person. ITC can only be claimed under GST if its…
Compliances are required to be complied with as and when required to be complied by the company some of them are like- Change in the Management of the Company Application for Director Identification Number Increase in the authorized share capital…
Form DPT-3 is the Return of Deposits filed pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, for reporting the return of deposits or particulars of transactions that are not considered as deposits or both. This return is…
Whether an auditor can be removed before the completion of his tenure? Yes, but it is not an easy job to remove an auditor, it is always better to ask for the resignation of the auditor. Given below is the…
Is the concept of rotation of auditors applicable to every company? No, the provisions pertaining to the Rotation of Auditors are applicable to the following companies only: What is the term for which an Auditor can be appointed in the…
The Statutory Auditors of our company have resigned. What is the procedure to appoint a new Auditor? Type of Company C&AG Board Members Government Company Within 30 days from the date of the vacancy In case of failure of C&AG…
The Ministry of Corporate Affairs (MCA), on 18th August 2022, notified Companies (Incorporation) Third Amendment Rules, 2022. Vide this amendment, MCA has announced a new Rule 25B, which is “Physical verification of the registered office of the Company”. The Company’s…
