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The outbreak of the Novel Corona Virus (#COVID-19) across many countries of the world including India has caused immense economic and business loss. Amid this difficult situation, the Government has announced below one time relaxations for Employers, Taxpayers and Business Entities. One Time Relaxation for Tax Payers and Business Entities Income-tax Refunds: It has been decided to issue

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Remuneration Paid to Directors

Taxability on Remuneration Paid to Directors Under GST Recently in the matter of Clay Crafts India Private Limited [TS–218–AAR–2020–NT], the Rajasthan Authority for Advance Ruling (“AAR”) stated that consideration paid to directors is against the supply of services provided by them to the company and are not covered under clause (1) of the Schedule III

One Person Company

The conversion of Private company (Private Limited) into One Person Company is authorized under the Companies Act, 2013. Can private limited company be converted into OPC? Yes, Only OPC with less than 50 lakh capital can be converted into private limited. however  subject to following conditions. If you fulfill all these condition then you can

LLP Settlement Scheme 2020

LLP Settlement Scheme 2020

The Ministry of Corporate Affairs, Government of India has introduced the LLP Settlement Scheme 2020. The scheme is set to give defaulting LLPs a one-time relaxation in paying the condonation fees for the delayed filing of documents. The scheme will come into force from 16th of March 2020 and will be in force up till

Fresh start scheme 2020

The Ministry of Corporate Affair issued the circular dated 24th March, 2020, having Circular No. 11/2020 relaxing any additional payment payable by the company on late filing of e-Forms to ROC to provide relaxation to the corporate world causing devastating circumstances created by COVID-19 causing a global pandemic. MCA in furtherance of the above circular


India’s IPRI score Decreased from 2014, in 2014 India’s global IPR score 46 in 95 countries. but this year the global IPR score has been increased by 0.180 to 5.820 placing it 10th in the Asia and Oceania region and 55th in the world. India is classified by the IMF as part of the Emerging

Short term fund for startup

Managing current/short-term funds is critical for the long-term success of any Startup. Working Capital Management or in simple words ensuring adequate short-term liquidity is important in order to meet current business obligations, and in the process ensuring the survival of the business. Very often start-ups forget that your financing is great but one element they

trademark registration

In the recent days, Khadi and Village Industries Commission (KVIC) has taken various initiatives for protection and promotion of Khadi as a brand in India and internationally and are the registered proprietors of over a hundred trademarks registrations including the symbol of ‘Charkha’ in India and other countries like Russia, China, Germany, Australia, UK and


According to the latest circular issued by the government, IEC is not mandatory for all traders who are registered under GST. In all such cases, the PAN of the trader shall be construed as a new IEC code for the purpose of import and export. Import Export Code (IEC) isn’t required to be taken in

Company registration form

To more focus on Ease of Doing Business(EODB) initiatives, Government of India’s, Ministry of Corporate Affairs ‘MCA’ would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form. SPICe+ would be an integrated Web form offering multiple services Like; Name reservation, Incorporation, DIN allotment, Mandatory issue

Mandatory Compliances for Startups

A startup running as a private limited company has to follow numbers of compliance as laid down by various statutes and other regulatory bodies. These include but are not limited to the periodic filing of tax and other returns, holding the board and other meetings, maintaining statutory books and accounts etc. Compliances for Startups under

Company audit

The preparation of financial information and its audit, therefore, needs to be regulated through law with stringent penalties for non-observance. Accounting And Auditing is a technical matter which needs to be gone into by experts keeping in view the requirements of proper disclosures of financial transaction in the interests of healthy corporate governance. Institutional mechanism

Business contract

Entrepreneurship is an act of starting with new assignment and the associated risks along with the inbuilt responsibilities. It goes beyond just the creation of a new venture to ensure its continuous survival. An entrepreneur is the one who has the will and ability to transform a mere idea or invention into a successful innovation.