Startup Company registration in India
What is the definition of Startups? A company established through the Legal structure of an LLP, OPC or a Private Limited company as governed by the Central Government of India Ministry of Corporate Affairs. A company should have one or more entrepreneurs with a shared vision to create unique and irreplaceable products or services. A startup […]
Gratuity Exemption: a Term Explained in Detailed
Understand Gratuity Exemption most simplistically. A retirement benefit is given to the employee upon completing 5 or more years in the organization. Specific regulations govern it and come with certain benefits and exemptions for employees’ post-retirement finance needs. The amount received by the employee is quite significant and valuable. To explain the Gratuity exemption sections […]
Explained: ESI Calculation, ESI Contribution & Application
Let’s understand Employee State Insurance (ESI) Contribution The Employee State Insurance (ESI) Act came into force in 1948 to ensure financial protection for employees and their families against unforeseen medical eventualities. The Employee State Insurance Corporation administers the act under the Ministry of Labour department. Why ESI Contribution: ESI is applicable when the minimum count […]
Interest for Late Payment of TDS
What is TDS (Tax Deduct at Source) TDS is the concept developed to ensure tax is collected where the income is generated, which means the source. TDS is deducted for the payment or credit, whichever is earlier, meaning when the person (Deductee) makes the payment or credit in the books, it must be deducted at […]
The Myth Around Tax Audit
Let’s decode and simplify some common misconceptions about tax audits by CFO angle. What is a Tax Audit? The audit conducted by the qualified CA passed under the ICAI Act for the taxpayer’s books of account in pursuance of the requirement of section 44AB is called a Tax Audit. During the Tax Audit, the CA […]
What do start-ups do to be investor ready?
Structure your equity shareholding Most of the times start-ups do what they are supposed to do, that is to source funds from friends and relatives at cheap cost. And the best way is to commit a certain % of equity from their holdings. But in the hurry of getting funds to sustain the business, start-up […]
Valuation of shares
Why a start-up needs a valuation? In the simple terms, valuation decides the Fair Market Value (FMV) of the equity shares at which the company offers to sell their equity to prospective investors. FMV is the current market value at which the investor is ready to buy the shares. Book value of the shares is […]
Crowdfunding
What is Crowd Funding? Crowdfunding is the option where the fund is raised from a large number of people in small amounts especially using the internet. A project report is prepared and it is demonstrated on the internet and a request is raised to the communities to support for the funding. In India, Crowd Funding […]
Why You Should Choose To Outsource Your Accounting?
What is Outsourcing? The business consists of functions like Sales, Marketing, Finance, Compliance, Accounting, and Customer Service. Activities related to business where the business growth is directly lined are called core activities and others are non-core. Core activities are: Sales: Purchase and sales of goods and services Marketing: Branding and marketing of products and services […]
The Procedure For Recovery Of Customer’s Outstanding
Sales is always an integral part of the business because when there is sale there is business and growth. Many times in the enthusiasm of selling to customer business end up blocking funds by not performing the right collection process. Customer takes advantage of our weaknesses and keeps blocking the money with no timeframe to […]
Income tax filing – Why it is so important?
Burning Question? Are you looking to go abroad and applying for VISA then ensure? Are you planning to take a loan for the house or car in the near future then? An individual / Salaries taxpayer without any tax audit has to file annual income tax returns without penalties before 31st July 2019. Common Myth’s […]
An Introduction to Tax Advisory Service
Introduction Taxes are mandatory and an integral part of every business’ finance out there. Taxes payable vary from business to business depending on niche, size, and type of business. But more often than not, this entire process becomes rather tiring, as taxation is a long and onerous process. Hence, businesses these days outsource tax accounting […]
An Introduction to Bookkeeping Service
Introduction A lot of planning and investment goes into a business before it is started. And there are a lot of important functions and operations that a business has to carry out efficiently and consistently to create a profitable revenue. One such key operation is the age-old profession of bookkeeping. This blog will help you […]