A professional tax registration certificate, also known as PTRC is the type of tax levied on all working professionals, whether in the profession, trade, or employment. PTRC is one of the types of professional tax certificates that are generally levied based on the income of an employee to an employer,…
PTEC full form Professional enrollment certificate is an essential requirement to maintain smooth functioning of the business complying with legalities of respective states. PTEC applicability is a tax levied on companies as entities and their authority's remuneration. Acquiring a Professional tax enrollment certificate allows paying professional tax of a business…
Introduction Innovative new ideas can help your organization grow only when they are strategically incorporated into your daily business activities for beneficial reasons. The impact caused due to innovative ideas can only be realized by your business if your organization is founded on and run by a solid triggered management…
Limited Liability Partnership is a form of partnership in a business enterprise where all the members have limited liabilities. No single partner is solely responsible for losses or misconduct of other partners. It has become the preferred form of organization among entrepreneurs because it incorporates the benefits of both a…
More often than not, you may have found yourself ask questions or hear people ask you questions like “Am I liable to pay tax if..?” or “if I do it this way, will the liability be lesser?” But before determining NRI Income Tax, it is fundamental to ascertain the…
Since time immemorial, cash has been the go-to method of receiving and accepting payments in any trade. Even in terms of financing businesses, cash has been the preferred mode of holding and spending. As times progressed, the method, modes and nuances of business have also changed. However, certain things remain…
Blocked Input Tax Credit under Section 17(5) The Goods and Services Tax Act, 2017, also known as the GST Act, is the consolidated legislation on indirect tax in India. The GST Act recognizes several concepts which are fundamental to the indirect tax regime in India. One such concept is input…
What is DIN and DIR 3? A unique Director Identification Number (DIN) can be obtained by any individual willing to become a director or partner in one or more companies to be registered with The Ministry of Corporate Affairs (MCA). Getting a DIN is a one-time process which can be…
Micro, Small and Medium Enterprise as per Micro, Small and Medium Enterprises Development Act, 2006 The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under Enterprises engaged in the manufacture…