Legal Suvidha

Professional Tax

Professional Tax

PROFESSIONAL TAX: MEANING, RATE & COMPLIANCE The nomenclature ‘Professional tax’ could be one of those terms which do not completely convey the real meaning of the term. Unlike the name suggests, it is just not the tax levied only on professionals. Professional tax is a tax on all kinds of professions, trades, and employment and

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Shops and Establishment Registration

Shops and Establishment Registration

SHOPS AND ESTABLISHMENT REGISTRATION The Shop and Establishment Act is regulated by the Department of Labor and regulates premises wherein any trade, business or profession is carried out. The act not only regulates the working of commercial establishments but also societies, charitable trusts, printing establishments, educational institutions run for gain and premises in which banking,

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CBDT Amends Rule 17CB

CBDT Amends Rule 17CB

CBDT AMENDS RULE 17CB TO REPLACE THE WORDS ” TRUST OR INSTITUTION” WITH SPECIFIED PERSON CBDT amends rule 17CB to replace words ‘trust or institution’ with ‘specified person’ vide Notification No. 101/2022-Income Tax Dated: 22nd August, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 101/2022-Income Tax | Dated: 22nd August,

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MCA notifies Companies Third Amendment

MCA notifies Companies Third Amendment

MCA Notifies Companies Third Amendment Rule, 2022 The Ministry of Corporate Affairs (MCA), on 18th August 2022, notified Companies (Incorporation) Third Amendment Rules, 2022, to further amend the Companies (Incorporation) Rules, 2014. Vide this amendment, MCA has announced a new Rule 25B, which is about Physical verification of the registered Office of the Company. The

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Section 115BAB

Section 115BAB

SECTION 115BAB: TAX ON INCOME OF CERTAIN NEW DOMESTIC MANUFACTURING COMPANIES The government has introduced a favourable tax regime for new manufacturing companies. The Taxation Laws (Amendment) Ordinance, 2019 passed on 20 September 2019 has inserted Section 115BAB offering a low tax rate of 15% (plus surcharge and cess) to new manufacturing companies. This is

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Books maintined by Charitable Institutions

Books maintained by Charitable Institutions

Books maintained by Charitable Institutions Charity is a voluntary help either in money or kind to the needy. Collective efforts are always more fruitful. Hence, there are various Non-Governmental Organizations (NGOs) and non-profit entities constantly working on charitable activities by raising funds all over the world by forming either an institution or trust. Efforts of

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