Producer Companies: Navigating the Structure and Functions
Economy of India is agricultural centric economy. Somewhere around 60% of population depends on the agricultural activities for their livelihood. As, these primary producers and farmers had a long struggle in our country. For addressing these problems, the government of India formed an expert committee. In year 2002, producer company were introduced in the Indian Economy. […]
Redemption of Preference Shares: Procedure and Implications
Preference share are those shares which have a preferential treatment over the other shares. They get paid first during liquidation and have a predetermined rate of dividend. Also, a firm occasionally does redemption of preference share for many reasons. The repurchase or purchase of preference shares from stakeholders is known as redemption of Preference Shares. […]
A Beginner’s Guide to GST Return Filing in India
Goods and Services Tax (GST) is a basic of the modern tax structure and an important tax reform in many countries, it is designed for streamlining taxation process and promote the economic growth. Filing GST return regularly is an essential element to ensure GST compliance. GST return filing is an official document which acts as […]
A Comprehensive Guide to ITR Filing for Businesses
All salaried individual and organisation have a financial responsibility of filing an Income Tax Return(ITR). It for evaluating and controlling one’s tax liability in addition for being a legal requirement. ITR Filing is a formal statement which is filed in the income tax department from salary, business and other source of income through which they […]
The Role of Legal Drafting in Business Compliance
Drafting the legal documents or Legal Drafting acts as a foundation for better communication and protecting the legal rights. As drafting these documents carefully requires attention cause it’s a combination of legal acumen, linguistic proficiency and a better understanding of the applicable laws. Significance on How to draft legal documents needs a better selection of […]
Exploring the Benefits of a Trial Balance in Accounting
Trial Balances are financial statements which provide the balance of all accounts in a proper accounting chart at a particular point of time. Advantages of trial balance are it ensures that all debit in the accounting tables are equal to all the credits. It helps in verifying the accuracy of balances of individual accounts and […]
Dissolution of Partnership Firm: Process and Legal Aspects
In this continuous change in global economy, Companies are evolving and partnership shift and sometimes business are required to close their doors. But when it comes to Dissolution of a business entity be it a Partnership, Limited Liability Company or a corporation this process could be complex and filled with potential pitfalls. Although, with better […]
Understanding Cheque Return Charges: Reasons and Solutions
The combination of technology in our daily lives has significantly affected the way we handle financial transactions. With the advent of digital transactions, conducting monetary exchanges has become more efficient and convenient for individuals. There is no need to wait or worry for losing physical checks, digital payments offer a much aligned process for completion […]
Comparing Indemnity and Guarantee Contracts: Key Differences
The Contract of Indemnity is given in Section 124 of Contract Act,1872 and Contract of Guarantee is given in Section 125 of Contract Act,1872. Firstly we need to understand a few terms. Indemnity means a ‘Security against Loss’. While both Contract of Indemnity and Guarantee are contingent or conditional contracts which are governed and regulated […]
How to Draft a Consent Letter for GST Registration
As, in today’s era with growing e-commerce blooming around the globe, many of the businesses are being with least staff. In such time the need for owning a physical office is not as beneficial cause office spaces are taken on rent, leased or even shared also known as co-working spaces. In such premises, a consent […]
