Partnerships in India are governed by the Indian Partnership Act, 1932 and as per this act a partnership deed may be registered or unregistered. However, there are certain benefits of registering a partnership firm which have been explained in this...

Partnership and Proprietorship are the 2 most popular forms of business organisations in India. The reason why these 2 forms of organisations are so popular is because they are relatively easy to set-up and the no. of statutory compliance required...

The most common forms of business organisational structure in India are Proprietorship, Partnership and Company. Proprietorship form of organisation is used when there is a single owner of the business. When the no. of owners is more than 1, Partnership...

Persons who have entered into partnership with one another to carry on a business are individually called “Partners“; collectively called as a “Partnership Firm”; and the name under which their business is carried on is called the “Firm Name” A...

ICSI has simplified the process for Registration for CS Foundation/ CS Executive/ CS Professional and the student can now register online as well through the website of ICSI. Recommended Read: All about CS Foundation Procedure for Online Registration of CS...

Current Account is an account in which there is no limit on the no. of transactions that can be done in a day and are therefore also referred to as Transactional Accounts. These type of accounts are held neither for...

Every assessee having a service tax registration number and who ceases to provide taxable service for which he is registered shall surrender his service tax registration certificate immediately to the Superintendent of Central Excise. Temporary suspension of business or getting...

In case of any error, mistake or omission realised after filing of the Service Tax Return, the assessee may filed a Service Tax Revised Return to correct such error/mistake/omission. As per Rule 7B of the Service Tax Rules 1994, an...

Service Tax is required to be paid on all services except those specified in the negative list of services. However, a small scale service provider has the option of availing service tax exemption in case the aggregate turnover value of...

A common man is most of the times confused between the terms – Income Tax Rebate, Income Tax Deduction and Income Tax Exemption and ends up using them interchangeably. Although, all these terms are beneficial to the taxpayer and reduce...