What happens if you ignore a tax audit?
If you are liable to tax audit but not complying to it purposefully, penalty upto Rs.100,000 can be imposed. Further, the AO can be...
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ENTERTAINING-BLOG-2022
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parpellakerala
- Aug 20, 2022
- 1 min
How do I find out the GST compliance rating of a vendor?
As of now, the GST compliance rating has not been introduced it’s still in the planning stage. However, you can get the details of GST...
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parpellakerala
- Aug 19, 2022
- 1 min
What is the procedure for registration under GST?
GST Registration can be obtained by logging into www.gst.gov.in first a temporary registration will be allotted based on the PAN, mobile,...
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parpellakerala
- Aug 12, 2022
- 1 min
(1) Being an NRI, can I buy shares in India? (2) Should I trademark my upcoming business name?
(1) Being an NRI, can I buy shares in India? Yes. An NRI can buy shares in India. However, he/ she needs to open a demat account and an...
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parpellakerala
- Aug 11, 2022
- 1 min
How can I register a Pvt. Ltd. company in India?
Registration of Pvt limited company is a 3 step process and the entire registration process is regulated through the ministry of...
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parpellakerala
- Aug 10, 2022
- 1 min
Is private limited company director is classified as employee or self employed?
The director is a whole-time director or managing director, he is classified as an employee of the company where as the independent...
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parpellakerala
- Aug 9, 2022
- 1 min
How do I remove/replace a shareholder in a private limited company without commencement of business
It is not possible to transfer the shares before depositing the paid-up capital in the bank account and filing INC 20 A. The first...
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parpellakerala
- Aug 5, 2022
- 1 min
What are the benefits of converting a private limited company to OPC?
The major benefit of converting a PLC to OPC is that being a small company as per the provisions of Companies Act, there will be...
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parpellakerala
- Aug 4, 2022
- 1 min
How do you remove a director from a private limited company?
A company can remove its director by passing an ordinary resolution unless he was appointed by the Central Government or the Tribunal....
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parpellakerala
- Aug 3, 2022
- 1 min
Which is better, OPC or private limited?
Both have their own pros and cons and the decision depends on the situation. If you’re too particular about starting your company on your...
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parpellakerala
- Aug 2, 2022
- 1 min
Can an unlimited liability company be registered as a Section 8 company?
No. Only a limited company can apply for Section 8 company license. A Section 8 Company registration typically costs between 15000 to...
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parpellakerala
- Aug 1, 2022
- 1 min
How do I convert OPC in PVT Limited after 1 month of OPC registration?
Conversion of an OPC into a private limited company is permitted only after two years from the date of incorporation. However, if the...
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parpellakerala
- Jul 30, 2022
- 1 min
What is the income tax return last date and its procedure?
By default the due date for filing income tax return for individuals is 31st July every year. For the AY 2022–23, the due date is 31 July...
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parpellakerala
- Jul 29, 2022
- 1 min
Is it mandatory that one of the director holds the major shares in private company?
A director need not necessarily become the shareholder of a company. One can become the director even without holding shares. A company...
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parpellakerala
- Jul 28, 2022
- 1 min
How do I reduce income tax legally in India as a salaried person?
There are several tax-saving options available which include investing in LIC and tax-saving mutual funds, payment of education fee,...
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parpellakerala
- Jul 27, 2022
- 1 min
Is there a board of directors in One Person Corporation (OPC)?
A single person can become the director in an OPC. An OPC has this peculiar provision to have a single director as well as upto 15. Hence...
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parpellakerala
- Jul 27, 2022
- 1 min
Can a senior citizen mother claim her medical expenses in income tax?
The Income Tax Act allows you to claim a maximum deduction of Rs 50,000 (as of FY 2021–22) on medical expenses incurred on the healthcare...
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parpellakerala
- Jul 26, 2022
- 1 min
How do you create a new GST registration?
GST Registration can be obtained by logging into http://www.gst.gov.in first a temporary registration will be allotted based on the PAN,...
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parpellakerala
- Jul 25, 2022
- 1 min
Are partners principal to the firm or only agents of firm?
In a partnership, a person must not act for himself alone, but for other partners also, Thus, each partner is a representative of all...
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parpellakerala
- Jul 22, 2022
- 1 min
How much does it cost to get a GST number in India?
The price of GST registration in India varies between a range of R.1000 to Rs.15000. The documents required for GST registration are PAN,...
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