Blogs

Introduction In today’s globalized economy, businesses and individuals frequently make cross-border payments. Suppose you are an Indian resident making payments to a foreign entity or receiving payments from a foreign entity. In that case, it is mandatory to comply with the legal provisions of the Income Tax Act 1961. according to the Act, you must file […]

TDS rate chart for Financial Year 2025-26 Taxes – especially TDS (Tax Deducted at Source)-can sometimes feel like a maze. Whether you’re a salaried employee, a freelancer, an investor, or a business owner, understanding how TDS works is crucial for managing your finances efficiently. In this guide, we’ll break down the various TDS rates applicable […]

TDS on Remuneration to Partners – Section 194T Background: Until FY 2024–25, no TDS was required on payments of remuneration, interest, or commission to partners by a partnership firm or LLP, as per general interpretation of Section 40(b) and absence of a specific TDS section. However, the Finance Act, 2023 introduced Section 194T, effective from […]

Section 195 – TDS on Payments to Non-Residents Introduction Section 195 of the Income-tax Act, 1961 mandates Tax Deduction at Source (TDS) on payments made to non-residents, where such payments are chargeable to tax in India. This provision ensures that tax is collected on foreign remittances at the earliest point of income generation. Who Qualifies […]

One Person Company (OPC) OPC is registered as a Private Company with one member, one nominee and may also have at least one director. Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC. A person can be member […]

NRE vs NRO Accounts: A Complete Guide for NRIs: Non-Resident Indians (NRIs) often need to manage their finances in India, and two common options for this are the Non-Resident External (NRE) Account and the Non-Resident Ordinary (NRO) Account. Both accounts cater to different needs, with distinct benefits and limitations. Understanding the differences between these two […]

SHORT SUMMARY: The MSME Form 1 is a half-yearly compliance requirement under Section 405 of the Companies Act, 2013, introduced to monitor and ensure timely payments to Micro and Small Enterprises. Companies having outstanding dues exceeding 45 days to registered MSME suppliers are mandatorily required to file this form, as per the MCA notification issued […]

In the context of company law in India, MOA and AOA are two essential legal documents required for the incorporation and governance of a company under the Companies Act, 2013. MOA – Memorandum of Association Definition: The Memorandum of Association (MOA) is the charter document of a company that defines its scope of activities, objectives, […]

STEP 1: Reservation of Unique Name (Web Form): The first step in the incorporation of any company is to choose an appropriate name and making an application in Spice + Part A (for name reservation) Web form with proposed two names of the company along with proposed objectives of the Company. (Only two names can be […]

What is Income Tax Clearance Certificate? This certificate is essentially a statement from the Indian tax authorities, confirming that you’ve settled all your tax obligations with the country. If you’re someone who has business dealings or earns income in India, even if you live abroad, getting an ITCC is something you’ll need to consider. What […]

GROUNDS FOR REMOVAL OF DIRECTOR The removal of a director can occur under several circumstances, which may include: PROCEDURE FOR REMOVAL OF A DIRECTOR BY SHAREHOLDERS AS PER THE COMPANIES ACT, 2013:

FDI – Foreign Direct Investment Definition: FDI refers to the investment made by a non-resident entity or person in the equity capital of an Indian company. It is governed by the Foreign Exchange Management Act (FEMA), 1999 and regulated by RBI and DPIIT (Department for Promotion of Industry and Internal Trade). Key Features:  Sectors attracting […]