Blog posts : "Income Tax MCA"

Applicability of Section 234F in case of AOP or BOI

The provisions of Section 234F (Fees for default in furnishing return of income) of the Income Tax Act,1961 are:-

Where a person required to furnish a return of income under section 139, fails to do so within due date, he shall pay:-

(a)Rs. 5,000/- if the return is furnished…

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Section 234F - Fee (Penalty) for delay in filing Income-tax return

1. What is Section 234F?

With reference to Section 234F of Income Tax Act, if it is mandatory for an individual/entity to file Income Tax Return (ITR forms i.e. ITR-1,2,3,4,5,6,7) as per the provisions of Income Tax Law [section 139(1)] but does not file it within the prescribed time limit, then …

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GST on Health Care services

Health Care means the maintenance and improvement of physical and mental health, especially through the provision of medical services.


Health Care services include diagnosis or treatment or care for illness, injury, deformity, abnormality or pregnancy in any recognized system of medicines i…

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Trade Mark Application to protect your brand name

A trademark is a symbol, design, word, or phrase that identifies one’s business goods or services from those of another. A company may come up with a design that is unique, to stand as a symbol of the company, or a product. Trademark protects them from being used by others to promote their own agen…

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Taxation of Freelancers

There is no age limit for freelancing. A plethora of work opportunities, and the favourable tax rules, ensure that freelancing is now more fruitful than before, for those who wish to make a living out of it, or who do it part time.

The term "Freelancing" relates to self employment and consultancy…

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Name availability guidelines for Company are given under Rule 8 of the Companies (Incorporation) Rules, 2014

In old Companies Act, 1956 Ministry had issued name availability guidelines by way of (Companies (Name Availability) Rules, updated in 2011). In the new Companies Act, 2013 name availability guidelines for Company are given under Rule 8 of the Companies (Incorporation) Rules, 2014.


In dete…

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NAME AVAILABILITY GUIDELINES - Rules 2011 (Not applicable Now)


  1. As per the Name Availability Guidelines 2011, while selecting the company name, the following should should be considered:

  2. The proposed name should not be undesirable or identical with or too nearly resembling with the name of a Company / LLP (Limited Liability Partnership) alrea…

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Certificate of commencement of Business

Commencement of Business Certificate

As per Companies (Amendment) Ordinance 2018, obtaining Certificate of Commencement of Business is mandatory for every Company within 180 days of incorporation. A director has to declare that every subscriber to the memorandum has paid the value of shares agree…

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As per Section 149(1)of the Companies Act, 2013, every company shall have a board of directors consisting of individual directors. In case of a public company a minimum of 3 directors are needed and in case of a private company, a minimum of 2 directors are needed to ensure smooth functioning of the…

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Filing Appeal against the assessment order

Filing of Appeal

An appeal is a procedure by which an assessee/tax payer can fight against the assessment order and/or notice of demand given by the Income tax department.

It may so happen that in an assessment, the data given in the Income tax return is not accepted by the Income Tax departme…

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Section 68 & section 69 of Income Tax Act

Unexplained money, Deposits & Investments

Section 68 - Cash credits: Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion o…

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Process to shut down a Section-8 Company

Companies registered under Section 8 can close their company by surrendering their license to operate as a charitable company. Such license can be surrendered by converting the company into a normal company other than a Section 8 company.

Section 8 company cannot be converted to One Person Co…

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Residential Status



Section -5 of Income Tax Act, 1961 provides Scope of total Income in case of a person who is a resident, not ordinarily residents and non residents. However, it is important to firstly determine the residential status of the assessee because the scope of total  income var…

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PPF for minors

PPF investment benefits for minor

One of the benefits of the PPF account is its 15-year lock-in period. Therefore, if you open a PPF account for your kid at an early stage in his/her life, then by the time he starts working or becomes adult (i.e., turns 18 years of age), the account would hav…

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Registration and taxation of Alumni Association


An alumni association is an association of graduates or, more broadly, of former students (alumni).


The purpose of an association is to foster a spirit of loyalty and to promote the general welfare of the organization.Alumni associations exist to support the parent organization's…

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Udyog Aadhar

What Is Udyog Aadhar?

The question that attracts every entrepreneurs attention is “what is UdyogAadhar?”. Udyog Aadhar is the government registration of any business entity for a 12 Digit unique number along with a recognition certificate in order to certify small/medium business…

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Registration of Foreign Companies

Companies (Registration of Foreign Companies) Rules, 2014 prescribes guidelines to be followed for the registration of a foreign company.

Every foreign company shall, within thirty days of the establishment of its place of business in India, in addition to the particulars specified in the sub…

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Comparison between Real Estate (Regulation and Development) Act, 2016 RERA) and West Bengal Housing Industry Regulation Act, 2017 (WB HIRA)


Abstract: Earlier there was no law specifically guiding the Real Estate Industry in India, which resulted to some discrepancies in respect to both the consumer body and the Industry body.

Thereafter, RERA, 2016 was enacted nationwide.

The essential goal of RERA is making a straightforwar…

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INTRODUCTION: The erstwhile VAT/Service Tax regime in India was cumberome due to multiple taxes, innumerable compliance obligations and tax cascading effect. Under the GST regime, it is quite simpler especially for IT sector.

TAX RATES UNDER VAT/EXCISE/SERVICE TAX: Under the erstwhile tax regime…

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Sale of Flat in URBANA - Income Tax matters

Presently, URBANA is the tallest residential complex ever built in Kolkata and in the entire Eastern India. Currently, it has five towers of 45 storeys and two towers of 40 storeys. Eco-friendliness is the key feature of the complex, making it the city’s first green residential area. With its ow…

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20 blog posts