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Know-all-about-ROC-Registrar-of-Companies
MCA

 Hundreds of people dream of establishing their own business. To be able to do that, you need to register your company with the Ministry of Corporate Affairs. But after the incorporation of the companies, who takes care of these companies and who makes sure that these companies are operating according to the guidelines of the Companies Act.For this task, Registrar of Companies, India was established for supervising and administering the Companies and Limited Liability Partnerships registered. For detailed information about the ROC, read the rest of the blog. What isSEE DETAILS

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BBMP
MCA, Property Taxes

Bruhat Bengaluru Mahanagara Palike (BBMP) Property TaxBengaluru for many years has been a center of attraction for the tech giants and their establishments. Even the new tech graduates want to be a part of India’s own Silicon Valley. After establishing at the new city, many concerns arise for a person including some legal compliances that one must follow, Property tax is one of them. The state government of Bangalore has simplified the process of paying tax by introducing the online system or through dedicated banking channels or can pay aSEE DETAILS

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Current-Account
Finance, RBI

 Current account is non personal bank account. It is a type of deposit bank account commonly used by companies, public enterprises, and businessmen. This account is normally associated with higher number of transactions with the bank. These transactions include deposits, withdrawals and transfer of funds from one account to another of the same bank or another bank. These accounts are also called Demand Deposit Account.You can open a current account in almost all commercial banks. These accounts generally have large transactions on a daily basis hence, there is no limitSEE DETAILS

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Applicability-of-Indian-Accounting-Standards
Finance

About IND ASIndian Accounting Standards (IndAS) can be considered as guiding principle or standards for the International Financial Reporting Standards (IFRS) to ascertain that Indian Companies have same understandability and accessibility globally. For certain companies, the application of specified standards was made mandatory. The objective of IND AS is to ensure that the financial statements and reports of an organization are uniform and to make the same user accessible and transparent. The ASB (Accounting Standards Board), is the regulatory body supervising IND AS. Before the introduction of IND AS, India’sSEE DETAILS

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Income-Tax-for-Senior-Citizens
Income Tax Learning

 Income tax is payable if any individual earns an income in a financial year. The tax rate depends on the aggregate income which the individual has earned under the following heads –Income from SalaryIncome from House PropertyIncome from Capital GainsIncome from Business or ProfessionIncome from Other SourcesAll the five heads of income are added together to arrive at the total income which is subject to income tax. There is a tax slab based on which the income calculated aggregating the five heads is calculated. The tax slabs are different forSEE DETAILS

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Value-of-Supply-under-Goods-and-Services-Tax
GST (Goods and Services Tax) India

  Value of SupplyIn GST regime it is important to know about the value of goods or services or both on which tax is to be paid. As per CGST Act, 2017 along with rules prescribed the provisions for determining the value of supply of goods or services have been made applicable in different circumstances and to different people.Value of  taxable supplyWhich section describe the value of supply?Value of taxable supply as per section 15Inclusions in the Value of supplyTaxes, duties,cesses,fees and ChargesAmount incurred by recipient on behalf of supplierIncidental expensesSEE DETAILS

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Accounts-Payable-Management
Finance

 Accounts payable management is one of the important business processes that help in managing payable obligations of the entity in the most effective manner. Accounts payable is the amount that the entity has to pay to its suppliers or vendors on the account of goods and services received. It means that after giving orders of goods and services by the entity, the firm should record a liability in its books of accounts on the basis of the invoice amount before making the payment. So this liability of the entity overSEE DETAILS

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Understanding-the-concept
Finance

 Ever wondered as to how the recording is being done for the transactions that takes place in and around countries having a different system, currency, and economic status. In this article, we will discuss such recording. MeaningThe balance of payments or BOP is a statement or summary of all transactions that take place between entities of one country with the rest of the world over a specified period.The transactions specified above consists of import, export of goods or services or both, capital, transfer payments, i.e., remittances made by the resident of a country fromSEE DETAILS

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Dearness Allowance (DA) – Meaning, Types, Calculation etc

 Money has become as important as natural resources to survive in this world. Prices of almost everything are touching the sky and it is making survival of a common man extremely difficult. Food is the most basic commodity for survival and the prices of the same fluctuate the most. It directly affects the economy and lifestyle of the common man. Since inflation occurs due to market forces, the government tries to stabilise the prices by introducing several tools. Amongst the tools introduced by the government, Dearness allowance is one ofSEE DETAILS

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Accounting-Entries-under-GST
GST (Goods and Services Tax) India, Latest News

    The introduction of the biggest indirect taxation reform in India namely Goods and ServicesTax (GST) has impacted the functioning of all the sectors of the economy. The impact of the radical shift can also be tracked in the segment of Finance and Accounting as well. Prior to the introduction of GST in India Separate accounting entries for each indirect tax law like service tax, excise, VAT etc was required to be made separately. Now only entries under the goods and services tax are required to be taken onSEE DETAILS

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