Rule 114E – Statement of Financial Transactions

For the registration with the Income Tax Department, the Government has initiated an online facility for the Reporting entities for the submission of the financial transactions statement. Individuals considered as…

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RNI Registration

RNI or the Registrar of Newspapers for India was introduced in 1956 by the amendment of PRB (Press and Registration of Books) Act. This statutory body ensures the maintenance of…

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SAC Code – Website and Software Development

HSN Code or SAC Code has to be stated in all tax invoices that are raised by the goods and services provider. SAC code or Services Accounting Code is applied…

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Reverse Charge Mechanism in Service Tax

Reverse Charge Mechanism in Service tax is a mechanism in which the recipient of goods and services is liable to pay the tax to the government in place of the…

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Retrenchment Compensation

Termination of employees by the employer for any reason administered by disciplinary action is called Retrenchment. Financial compensation by the employer is provided to the terminated employee and this compensation…

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Residential Status for Income Tax

The residential status of an individual is the basis for his/her income tax liability. It is important for the taxpayer to state his/her residential status while filing income tax return….

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Restrictions on Sweat Equity shares

The equity shares issued by a company directly to their directors and employees at a relatively higher discount for the availability of certain intellectual rights of its property (Copyright, trademark,…

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Secretarial Audit

Companies are required to have a secretarial audit each year as a part of the Compliance Requirement under Companies Act, 2013. It is an audit conducted to verify and report…

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Representative Assessee – Income Tax Act

The Representative assessee is the person who files the income tax return on behalf of the assessee. According to the Income Tax Act, representative assesses evaluate the income tax of…

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Rent Receipt

Rent Receipt Format

A SHORT GUIDE TO RENT RECEIPT A receipt is a note or memorandum or writing to acknowledge any money, cheque, bill of exchange or any promissory note that has been…

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