Consequences of AOC Non-Compliance: Company Strike-Offs and Frozen Bank Accounts 

Consequences of AOC Non-Compliance:   Frozen Bank Accounts  This guide explores the situation where a company's bank account is frozen because the company has been struck off, often due to not filing financial statements with the Ministry of Corporate Affairs (MCA).…

Why Getting a US Trademark Registration Is Important?

Why Is Getting a US Trademark Registration Important? In the ever-expanding global marketplace, securing a US trademark registration is more than just a legal formality; it's a strategic business move. A trademark is not just a symbol, name, or phrase;…

Multiple Pan Card Issue: Problems and How to Solve it?

Multiple Pan Card Issue: Problems and How to Solve it? A PAN is a ten-digit alphanumeric number issued as a laminated PAN card by the Income Tax Department. It is an identifier of the “person” with the tax department. It…

Form 12BB: Investment Declaration for Employees

Form 12BB: Investment Declaration for Employees Effective tax planning is essential for salaried individuals to optimize their advance income tax payments by the Income Tax Act 1961. Under this act, employers are tasked with applying Tax Deductions at source (TDS) on…

Form DPT-3: Complete Guide to Filing Return of Deposits

Form DPT-3: Complete Guide to Filing Return of Deposits Form DPT-3, called the "Return of Deposits," is a mandatory filing obligation for companies to provide essential details regarding their deposits, outstanding loans, and non-deposit transactions. This filing requirement applies to…

CBDT Revises Monetary Limits for Condonation of delay for refund claim and carry forward losses

CBDT Revises Monetary Limits for Condonation of delay for refund claim and carry forward losses The Central Board of Direct Taxes (CBDT) vide a Circular 9/2015 dated 09-06-2015, provided guidelines to handle requests for Condonation of delay in filing income…

Revised Form URC-1 – Company Registration under section 366

Revised Form URC-1 - Company Registration under section 366 Form URC-1 plays a crucial role in registering different business entities under the Companies Act of 2013 and the Companies (Authorised to Register) Rules of 2014. Companies (Authorized To Register) Amendment…

MCA Clarification on the spending of CSR funds for “Har Ghar Tiranga” campaign

MCA Clarification on the Spending of CSR funds for "Har Ghar Tiranga" Campaign The Ministry of Corporate Affairs (MCA) vide General Circular No. 08/2022 dated July 26, 2022, has clarified that spending of funds towards the ‘Har Ghar Tiranga’ campaign…

GST Changes related to Transport Sector

GST Changes Related to Transport Sector 47th Goods and Services Tax (GST) council has decided to give relief to the transport sector by way of a reduction in the tax rate. For the transport sector, the council lowered GST to…

GSTN Removes Negative Balance in Cash Ledger

GSTN Removes Negative Balance in Cash Ledger In a major relief to composition taxpayers, the Goods and Services Tax Network (GSTN) removed negative liability/balance from the cash ledger on 8th July 2022. Due to the reversal of the amount in…