Composition of Levy Under GST
The condition to opt for composition we will be only available if the aggregate turnover in the preceding financial year did not exceed INR 50 lakhs. Following categories of taxable…
Declared Service Under Service Tax Act
Service tax act 1994 lays down taxability of services under various categories. However there are services which have been declared as services. Below is the extract of Section 66E renting…
Disqualification of Directors under Companies Act 2013
If you are planning to start a company or looking to appoint additional director or reappoint a director, Then first thing you should check whether proposed director is qualified for…
How to Borrow Money from Non-Resident Indian or Person of Indian Origin
In India borrowing of money from NRI or Person of Indian Origin is governed by FEMA act, relevant rules and notifications issued by RBI The borrowing of money can be…
Transitional Provisions under GST Part5 –Treatment of Change in Price of Services and Goods After GST is implemented
There could be a situation where price of goods or services are revised after GST is implemented. In this situation, question arises what will be treatment of such goods or…
Ideas to Plug your Business Revenue Leakage
Do you know on an average a company loses 1% to 2% of its revenue on account of revenue leakage? Some of the reasons are below: No billing for the…
How to Choose a Accounting Outsourcing Service Provider?
Consider this: A CEO of a multinational company after reviewing his quarterly results, comes to following conclusion: Growth is stagnant Fixed cost is on the rise, contributed by rising expenses…
Why? When? & Whom? should be hired as CFO?
In any business Cash acts as Oxygen and it is ultimate necessity for life. For survival Oxygen has to be inhaled and has to be exhaled in form of carbon…
All About Liberalised Remittance Scheme-Part1
With globalisation, movement of funds between countries has become quite common. In this context it is quite important to take note of Liberalised Remittance Scheme in India. Under this scheme…
Taxation of Free Meals and Food in Income Tax Act 1961
Normally if food expense is incurred by employer on behalf of the employee, then it has to be treated as perquisite. However, there are certain exceptions to this provision Food,…