COMPANY LAW
A FORIGN COMPANY OPEN A BRANCH OFFICE IN INDIA
RJA 15 Jun, 2018
Pre Compliances REQUIRED CONDITIONS OF A FOREIGN COMPANY OPEN A BRANCH OFFICE IN INDIA, The name of the Indian Branch office shall be the same as the parent company. The Branch office does not have any ownership, it is just an extension of the existing company in a foreign country. ...
OTHERS
Business Set up in India- Startup India scheme Benefits
RJA 12 Jun, 2018
Business Set up in India- Startup India scheme For expanding business across the international frontiers is considered as an important aspect for the business to establish milestone. Rapid economy growth with resources and inexpensive labors makes India the topmost choice for the business owners to establish a business in. Apart ...
INCOME TAX
National Committee on Deduction benefit under section 35AC
RJA 02 Jun, 2018
This is to update about Deduction benefit under section 35AC, the Government today said the benefit of deduction under section 35AC of the IT Act will only be available till March 31, with respect to the payments made to associations or institutions approved by the National Committee for carrying-out any ...
ROC Compliance
Due Date for Filling Annual Return
RJA 18 May, 2018
Due Date for Filing Annual Return All companies registered in India must file annual returns each year, irrespective of business turnover or activity. The annual return must be filed in Form MGT-7 and Form AOC-4 is also filed along with the annual return. In this article, we look at the ...
ROC Compliance
Shifting of Registered Office from One State to Another
RJA 11 May, 2018
Shifting of Registered Office(RO) of the Company from One State to the Another which has more compliance than shifting the Registered Office within the State. Detailed Procedure According to Section 13 read with Rule 30 of Companies (Incorporation) Rules, 2014:- Prepare Draft Memorandum and Articles of Association of the Company. Call ...
ROC Compliance
MCA has notified amendment to various rules under Companies Act, 2013
RJA 11 May, 2018
MCA has notified amendment to various rules under the Companies Act, 2013. w.ef. 07 May, 2018 MCA has notified amendment to various rules under the Companies Act, 2013. The amendments are effective from May 07, 2018. The amended provisions have been discussed as under: MCA has amended the Companies (Meetings of the ...
COMPANY LAW
Start-Ups Companies & The Mistakes They Do Which Cause Them A Big Trouble to expand Their Business
RJA 09 May, 2018
START-UP’S COMPANIES & THE MISTAKES THEY DO WHICH CAUSE THEM A BIG TROUBLE TO EXPAND THEIR BUSINESS Details about start-ups and the mistakes they do which cause them big trouble to expand their business and yes sometimes more serious than that, they have negative remarks on their goodwill. ...
Limited Liability Partnership
CONVERSION OF LLP INTO COMPANY LIMITED BY SHARES.
RJA 07 May, 2018
LLP Act, 2008 does not cover the conversion of LLP into Company but in Companies Act, 2013 conversion of LLP into Company is covered in section 366. Please note that recently MCA has notified Companies (Authorized to Register) Amendment Rules, 2018 which shall come into force on 16.02.2018 in which form URC–1 has ...
Limited Liability Partnership
ANNUAL FILINGS OF LIMITED LIABILITY PARTNERSHIPS (LLPS)
RJA 05 May, 2018
ANNUAL FILINGS OF LIMITED LIABILITY PARTNERSHIPS (LLPS) Is the next important task marked in the compliance list? Every Limited Liability Partnerships (LLPs) which are registered with the Ministry of Corporate Affairs (MCA) have to file the Annual Returns and Statement of Accounts for the FY 2018. here are three main ...
OTHERS
HOW TO APPLY TO RBI FOR MOBILE WALLET/ PREPAID PAYMENT INSTRUMENTS
RJA 13 Apr, 2018
The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transactions with each other A non-bank entity desirous of setting up payment systems for issuance ...
FEMA
RESIDENTIAL STATUS UNDER INCOME TAX and FEMA
RJA 09 Apr, 2018
Tax incidence on an assessee depends on his residential status. For instance, whether an income, accrued to an individual outside India, is taxable in India depends upon the residential status of the individual in India. Similarly, whether an income earned by a foreign national in India (or outside India) is ...
INCOME TAX
IMPORTANT ANALYSIS OF ALL MAJOR AMENDMENTS IN INCOME TAX APPLICABLE FOR A.Y. 2018-19
RJA 02 Apr, 2018
Maintenance of Books of Accounts Change in limits for Maintenance of Books of Accounts (Section 44AA): If your net income* from Business or Profession in the financial year 2017-18 is more than Rs 2,50,000 OR if your total sales from Business or Profession in the financial year is more than 25,00,000, then ...
COMPANY LAW
Merger and Amalgamation under Companies Act, 2013 by National Company Law Tribunal (NCLT).
RJA 19 Mar, 2018
Merger and Amalgamation is a restructuring tool available to Indian conglomerates aiming to expand and diversify their businesses for various reasons whether it is to gain competitive advantage, reduce costs, or availing of tax benefits. A merger means an arrangement whereby one or more existing companies merge their identity into ...
Income tax return
Needed to file income tax returns for your bitcoin profits earn
RJA 17 Mar, 2018
Needed to file income tax returns for your bitcoin profits earn Profited from Bitcoins or other Cryptocurrencies and not sure how to file your income tax returns? Did you know gains from bitcoin is treated as capital gains and hence taxed? We are India’s leading tax ...
INCOME TAX
RESIDENTIAL STATUS UNDER INCOME TAX
RJA 14 Mar, 2018
Residential Status of Individual- Section 6 Tax incidence on an assessee depends on his residential status. For instance, whether an income, accrued to an individual outside India, is taxable in India depends upon the residential status of the individual in India. Similarly, whether an income earned by a foreign national in ...
OTHERS
QUICK REVIEW Of PREVENTION OF MONEY LAUNDERING ACT, 2002
RJA 13 Mar, 2018
Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. So basically, all the ways to convert black money into white money are Money laundering. But in Money laundering, the black money must ...
OTHERS
APPROVES ARBITRATION AND CONCILIATION (AMENDMENT) BILL, 2018
RJA 09 Mar, 2018
The Union Cabinet on Wednesday approved the Arbitration and Conciliation (Amendment) Bill, which seeks to establish an independent body to make arbitration process user-friendly, cost-effective and ensure speedy disposal and neutrality of arbitrators. The Bill seeks to encourage institutional arbitration for settlement of disputes and make India a centre of ...
OTHERS
Future of Accountancy Profession
RJA 08 Mar, 2018
Future of Accountancy Profession Accountancy profession will face significant challenges in coming times with the evolving technologies, globalization and new form of regulations. Along with tough challenges come exciting opportunities which accountants in business and practice are going to face. Emerging technologies and global trends are definitely reshaping the accountancy ...
COMPANY LAW
Elements of Financial Statements
RJA 07 Mar, 2018
The financial elements of a financial statement are broadly classified into five categories. These are grouped according to the monetary characteristics they possess. Let’s have a brief understanding of all five. Assets An asset is a resource (either tangible or intangible) that is in control of the enterprise ...
Goods and Services Tax
How to file return under UAE VAT
RJA 05 Mar, 2018
As per the official site of the Ministry of Finance, UAE, the majority of the business entities will be required to file the VAT returns on a quarterly basis, within one month/28 days from the end of the respective quarter. USE OF ACCOUNTING SOFTWARE The business in UAE ...
IBC
QUICK REVIEW ON INSOLVENCY AND BANKRUPTCY CODE
RJA 03 Mar, 2018
The meaning of Insolvency and Bankruptcy is not the same. “Insolvency” means the situation where an entity (the debtor) cannot raise enough cash to meet its obligations or to pay debts as they become due for payment Bankruptcy is the term for when an individual is declared bankrupt ...
OTHERS
Everything You Need to Know About SIDBI Loan Schemes
RJA 24 Feb, 2018
SIDBI has proved to be a great support system for all kinds of small businesses in India. This is because they create a series of equity and loan schemes for MSME sector to sanction their growth. In the following article, we will observe some famous SIDBI schemes like- SME IT ...
OTHERS
Cabinet approves New Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018
RJA 24 Feb, 2018
In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to introduce the following bills in the Parliament:- (a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament & (b) Chit Funds (...
GST Compliance
Special GST Audit (Section 66) Under under GST ACT 2017
RJA 22 Feb, 2018
GST AUDIT UNDER GST ACT 2017 Under GST Audit would be done in Two Ways: Section 65 (compulsory audit by tax authorities) Section 66 (special audit by chartered accountant or cost accountant) What is an GST Audit? As per Section 2(13) of CGST Act, 2017’audit’ means the examination of records and other ...
