Non Compliance during Incorporation shall be treated as Fraud as per Companies Act, 2013

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Thousands of start-ups are incorporated every week in India. There are various online and offline consultants who help the start-ups getting registered. But often it’s found they have little knowledge of the trade and they give wrong documents/information during incorporation. The promoters having the belief that their consultants have the expertise never cross check whether … Continue reading Non Compliance during Incorporation shall be treated as Fraud as per Companies Act, 2013

Received a 4883C letter from IRS? Here is what you need to do

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4883C letter is one of the most common types of communications received from the IRS. 4883C does not mean that you have not filed your returns with the IRS. Rather it is sent by the department when you have successfully filed your returns but the department needs further information. This information is sought by the department … Continue reading Received a 4883C letter from IRS? Here is what you need to do

Deductibility of interest expenses on occasion of capital restructuring

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Capital restructuring is a corporate operation that involves changing the mixture of debt and equity in a company’s capital structure. It includes measures like capital restructuring through repurchase tender offer, open market offer, securitization. Securitization is the process of taking an illiquid asset, or group of assets, and through financial engineering, transforming them into a security. … Continue reading Deductibility of interest expenses on occasion of capital restructuring

No scrutiny on post demonetization deposits upto Rs. 2.5 lakh

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On the matter of scrutiny of deposits, the IT department has issued a clarification. As per this clarification, there will be no scrutiny of deposits of upto Rs. 2,5 lakhs made in the banks in the post demonetization period. Only those accounts will be subjected to scrutiny which does not tally the Income Tax Returns filed. … Continue reading No scrutiny on post demonetization deposits upto Rs. 2.5 lakh

How to simplify bookkeeping for your business?

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Startups and small business owners spend 12-14 hours a week on an average on book-keeping functions. Bookkeeping includes recording, organizing, classifying and summarizing of the business transactions. Accounts Receivable/Payable, Salary & reimbursements, rent payments are some of the common recurring business transactions. Most of the times, these become tedious and time taking. Additionally, the taxation … Continue reading How to simplify bookkeeping for your business?

What does Indian Union Budget 2017 mean for foreign investors?

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India’s Union Budget, 2017 was presented today by the Finance Minister. What we saw was a balanced approach with a focus towards strengthening the core of the country. A lesser amount of promises and some real strong amendments were proposed. The global economy is ablaze recently. Courtesy – Trump’s policy making in US, Brexit in UK … Continue reading What does Indian Union Budget 2017 mean for foreign investors?

Budget 2017 : Finance Minister Unfolds The Progress On GST

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1st February 2017: Finance Minister (FM) Mr. Arun Jaitley today in his 4th Annual Budget speech unfolded the progress made in the area of GST so far. Being the biggest tax reform since Independence, he assured that the preparatory work form the path breaking reform has been the top priority for the Government. The key takeaways … Continue reading Budget 2017 : Finance Minister Unfolds The Progress On GST

EASE TO INDIVIDUAL TAXPAYERS – BUDGET 2017

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  Finance Minister Arun Jaitley laid out on 01st February, 2017 a notional budget that aimed to boost spending, as he sought to lift growth and assuage people’s pain from the government’s drive to purge the economy of “black money”. “The finance minister has presented an ‘uttam’ budget, devoted to strengthening the hands of the … Continue reading EASE TO INDIVIDUAL TAXPAYERS – BUDGET 2017

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