Gift deed or sale deed/agreement: Which method attracts minimum stamp duty when transferring property?
October 24, 2024I believe there are four ways in which assets can be transferred—by a simple transfer during one’s lifetime, through a gift deed, by writing a will, and if a person dies intestate. Which of these methods attracts the minimum stamp duty, particularly for immovable property? Rajat Dutta, Founder & Initiator, Inheritance Needs Services: Stamp duty …
Read MoreDeductions available under New and Old Regime
October 17, 2024Tax saving deductions and exemptions under the new tax regime Under the new tax regime, only limited tax deductions are available for taxpayers. Hence, opting for the new tax regime is a good option if you have a minimum investment. However, the tax slab rates are concessional compared to the old tax regime. Deductions that …
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Read MoreMSME and Section 43B (h) of Income Tax
February 28, 2024As you may be aware, the government has been introducing various measures to support and strengthen the MSME sector, recognizing its significant contribution to the economy. One such measure is the inclusion of Section 43B(h) in the Income Tax Act, which pertains to the non-deductibility of certain Expenses/Purchases if the corresponding payments are not made …
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Read MoreStriking off LLP – Closure of LLP
October 13, 2022Preconditions for Striking Off of LLP Not carrying on any business or operation since incorporation or for a period of one year or more (Hence, if the LLP is operational and the partners wish to close the LLP, the LLP must first cease all commercial activity) and Consent of all partners of the limited liability …
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Read MoreGuide To Select Form of Startup – Private Limited, LLP, OPC, Partnership or Proprietorship
August 31, 2020FEATURES Private Limited Company One Person Company (OPC) LLP Partnership Proprietorship Separate legal entity ✓ ✓ ✓ ✕ ✕ Limited Liability ✓ ✓ ✓ ✕ ✕ Number of members 2-15 1 2-99 2-20 1 Number of Directors /DP 2-15 1-15 2-99 NA NA Investor Preference ✓ ✕ ✓ ✕ ✕ Foreign Investment (FDI) ✓ ✕ …
Read MoreThings to do Post Incorporation
July 20, 2020Open a Bank Account - Immediately post Incorporation (CapitalCA already covers this) Deposit Full Share Capital to the Bank Account - Only from savings account of Shareholder through cheque, NEFT/RTGS Issue of Share Certificate to Shareholders GST Registration and providing Bank Account details for GST Registration (CapitalCA already covers this) Appointment of Auditor (Chartered Accountant) …
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