CBDT

Private Limited Company Examples: Real-World Cases

Private Limited Company Examples: Real-World Cases Introduction Understanding Private Limited Companies (Pvt Ltd) is important for entrepreneurs and business enthusiasts. A Pvt Ltd company offers protection from personal liability, boosts credibility, and provides various tax benefits. This blog looks at real-world examples of successful Pvt Ltd companies, highlighting their achievements and valuable lessons. Benefits of […]

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Importance of Linking PAN and Aadhar Number

LINKING OF PAN AND AADHAR NUMBER What is PAN? PAN stands for Permanent Account Number. It is a unique 10-digit alphanumeric identification number issued by the Income Tax Department of India to individuals and entities for the purpose of tracking financial transactions. PAN is mandatory for certain financial transactions, such as opening a bank account,

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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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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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Non-Compliance with NFRA Rules

Non-Compliance with NFRA Rules

 Non-Compliance with NFRA Rules Overview of National Financial Reporting Authority (NFRA), Rules 2018 MCA has introduced National Financial Reporting Authority Rules, 2018 vide notification dated 13th November, 2018 to provide for matters relating to accounting and auditing standards under the Companies Act, 2013. Applicable Laws: Section 132(2) :Constitution of National Financial Reporting Authority. Section 132(4) :

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Guidelines under section 194S(6) 

Guidelines under section 194S(6) 

 Guidelines under section 194S(6) Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes(TPL Division) File No. F. No. 370142/29/2022-TPL (Part-I) vide Income Tax Circular No. 13 of 2022 dated 22nd June, 2022 has released “Circular regarding Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax

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Form No 10AC

Form No 10AC

Form No 10AC lead to some clarifications issued by CBDT  Finance Act, 2022 has inserted sub-section (4) in section 12AB of the Income-tax Act, 1961 (the Act) allowing the Principal Commissioner or Commissioner of Income-tax to examine if there is any “specified violation” by the trust or institution registered or provisionally registered under the relevant

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