Golden Rules of Accounting
Golden rules of Accounting Every entity must present its financial information to all its stakeholders. The information provided in the financials must be accurate and present a true picture of the entity. For this presentation, it must account for all its transactions. Since economic entities are compared to understand their financial status, there has to […]
New Definition of Small Company
New Defination of Small Company The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. The MCA (Ministry of Corporate Affairs) has effected this amendment in accordance with the proposal of the Honourable Finance Minister to revise the definition […]
Format of Resignation Letter of Director
Every Director resigning from the Board of the Company must submit his resignation letter to the Board of the Company for their acceptance On receipt of resignation letter, it is placed before the Board for their perusal and further discussion. Date: ____ From, (Name of the Director) S/o. ____________ (Address of the Director as per […]
PAN – Types and Requirements
PAN Types & Requirements PAN (Permanent Account Number) PAN is an electronic system through which, all tax related information for a person/company is recorded against a single PAN number. This acts as the primary key for storage of information and is shared across the country. Hence no two tax paying entities can have the same […]
Filing Of Financial Statements in XBRL Mode
Filing of Financial Statements in XBRL Mode XBRL stands for eXtensible Business Reporting Language, a language for the electronic communication of business and financial data that has revolutionized business reporting around the world. XBRL major benefits include ease in preparation, analysis and communication of business information by the corporates. XBRL offers cost savings, greater efficiency, […]
Main Objects For IT Services, Technology, Training And Consultancy
Main Objects For IT Services, Technology, Training And Consultancy Detailed Main Objects For IT Services, Technology, Training And Consultancy: To carry on the business of Software designing, development, customisation, implementation, maintenance, testing and benchmarking, designing, developing and dealing in computer software and solutions, and to import, export, sell, purchase, distribute, host (in data centers or […]
Main Objects For Hospitality Industry / Event Management
Main Objects For Hospitality Industry / Event Management Detailed Main Objects For Hospitality Industry / Event Management: To carry on the business of developing, promoting, marketing, organizing and managing artists and celebrity management national as well as international events, product brands, corporate and business themes, evenings, launches, ideas, managing public and media relations, press & […]
Main Objects For Trading of Computer Hardware, and Related Products
Main Objects For Trading of Computer Hardware, and Related Products Detailed Main Objects For Trading of Computer Hardware, and Related Product To carry on the business of providing, selling, purchasing, trading , production, distribution, customisation , development or otherwise deal in all types of applications, programs, mobile applications, web applications, products, portals, services, applications and […]
Obtain 80G and 12A Certificate
Obtain 80G & 12A Certificate 80G Certificate 80G Certificate is issued to a non-profit organization or a charitable trust or non-governmental organizations (NGO), or a Section 8 Company by the Income Tax Department. The intention behind issuing the 80G certificate is to promote 50% tax benefits to donors so that more and more donors can […]
Brief on PAN, TAN, TIN and GSTIN
Brief on PAN, TAN, TIN and GSTIN and differences between them You would have come across PAN, TAN, TIN, and GSTIN in the daily usage and in context of Income Tax. PAN- Permanent Account number A PAN is a 10-digit alphanumeric number that’s unique to every taxpayer in the country. It’s issued by the Income […]
