Fundscoop Blogs

All you need to know about a Nidhi Company

February 9, 2018

Nidhi Definition:Nidhi company is a non-banking Finance company which is approved by the Central Government by notification in official gazette. As per section 406 of the Companies Act 2013, “Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of th…

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Regarding Dormant Status of companies

January 22, 2018

The Companies Act, 2013 has given an opportunity of dormant status to future oriented company or inactive company to remain in existence without being wound up and / or liquidated.

  • According to Section 455 of the said Act, where a company is formed for a future project or to hold an asset or i…

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PPF A/c’s will be deemed to be closed on the day the investor becomes a non-resident

November 3, 2017

PPF A/c’s will be deemed to be closed on the day the investor becomes a non-resident

Under the rules of the Government, NRI’s cannot open a new PPF account in India. But they were allowed to keep contributing to their existing PPF accounts as per a 2003 notification. This was for the PPF ac…

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Income Tax filing of Non Profit Organizations

September 30, 2017

Which NPOs/ Trusts needs to file their Income Tax Returns:-

  • All NPOs having their income during the previous year exceeding the maximum amount which is not chargeable to income tax are required to file their Income tax returns. Currently Rs. 2.5 Lakhs per year is the maximum amount which is no…

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Which is better as a start-up: LLP or Private Limited Company or Partnership?

September 22, 2017

An entrepreneur planning a start-up usually have a common question : which is better for a start-up? LLP, Private Limited Company or partnership firm? So here’s a comparison chart to make it easier for you to decide the same for yourself.


Limited Liabil…

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Can HUF become a partner in LLP

September 17, 2017

What is LLP?

A Limited Liability Partnership (LLP) is a contract or agreement made between the partners of a LLP to establish a fair relationship between them and to protect their investment for carrying on any such business. A Limited Liability Partnership (LLP) is like a body corporate, wit…

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ICDS and it's implications

September 3, 2017

There are 5 heads of income under which the whole income of an assessee have to be reported under the Income Tax Act, 1961. The disclosure and computation of income under various heads of income, and in particular, under the head “Profits and Gains of Business or Profession” was the subject to numer…

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Section 44ADA – Presumptive Taxation Scheme for Professionals

September 1, 2017

About: After the introduction of section 44AD of the Income Tax Act, section 44ADA was introduced from Financial Year 2016-17 to give relief to small professionals as well. Under this section, an assessee is neither required to main books of accounts U/S 44AA nor the audit of accounts U/S 44AB o…

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New rules and circular on IEC code

August 28, 2017

As per the latest circular on IEC, as enclosed, the importer/exporters need NOT apply for separate IEC code for import/Export in India. As per the latest trade circular by the DGFT, the PAN shall be construed as new IEC code for the purpose of import and export and the DGFT department shall also is…

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Introduction of Form 15CA & 15CB

August 17, 2017
  • Finance Bill 2008 introduced the process of e-filing of information pertaining to payment to non-resident via certificate and undertaking.


  • Earlier, the person making a remittance to NR was required to furnish certificate in a specified format circulated by RBI.


  • Basic p…

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