Incorporation Incorporation for registering a Private Limited Company in India, you need to follow these steps: 1.Obtain Digital Signature Certificate (DSC): The first step is to obtain a Digital Signature Certificate (DSC) for the directors and shareholders of the company. This is required for filing the registration forms online. 2. Apply for Director Identification Number… Read More »
Sole proprietorship vs OPC Here are the notable distinctions between an OPC (One Person Company) and a sole proprietorship: Legal Structure: OPC: An OPC is a legally recognized entity that is registered under the Companies Act. An OPC (One Person Company) is recognized as an independent legal entity distinct from its owner. Sole Proprietorship: A… Read More »
Two-way invoice matching process Invoice matching is a crucial component of the accounts payable process. It helps businesses maintain accuracy in their financial records and ensures they are paying only for the goods or services received. Among the various types of invoice matching, the two-way invoice matching process is widely used for its simplicity and… Read More »
TDS Compliance for Partnership Firm TDS Compliance for Partnership Firm, For a partnership firms, compliance with TDS (Tax Deducted at Source) provisions is important to fulfil its tax obligations. Here are some key aspects of TDS compliance for a partnership firm: TAN Registration: The partnership firm must obtain a valid Tax Deduction and Collection… Read More »
Internal liabilities Internal liabilities, also known as intra-company liabilities or intercompany liabilities, refer to the debts or obligations that exist between different entities or divisions within the same company or group of companies. These liabilities arise due to financial transactions or arrangements between various internal entities. Internal liabilities can take several forms, including: Intercompany… Read More »
Double-entry bookkeeping Double-entry bookkeeping is a method of recording financial transactions that involves recording both the debit and credit aspects of each transaction in separate accounts. For every debit recorded, there must be a corresponding credit of equal value, ensuring that the books always balance. It is important to accountants and auditors because it provides… Read More »
Direct and Indirect Expenses Before diving into the specifics of salaries and wages, it’s essential to understand the basic definitions of direct and indirect expenses: Direct Expenses: These are expenses that can be specifically linked to the creation of goods or the provision of services. They vary depending on the level of production. In other… Read More »
How much GST-registration can be issued on one PAN number In India, a business or individual can have multiple GST registrations under a single PAN (Permanent Account Number). However, there are specific scenarios that determine the need for multiple registrations. 1. Different States If a business operates in multiple states, it must obtain separate GST… Read More »
Company Administration Company Administration, A company secretary plays a vital role in ensuring the efficient functioning, compliance, and good governance of a company. Here are some reasons why a company secretary is important: 1. Compliance with Laws and Regulations: One of the primary responsibilities of a is to ensure that the company complies with… Read More »
Invoice management Invoice management: is the process of handling and tracking the creation, processing, and payment of invoices within a business or organization. It involves various tasks such as generating invoices, sending them to customers, recording payments, and reconciling accounts. Effective invoice helps businesses to streamline their billing and payment processes, reduce errors… Read More »
