It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income is communicated to the Income tax department after the end of the Financial year. Different forms are prescribed for filing of returns for different Status and Nature of income.

You can authorize any person by way of a Power of Attorney to file your return. A copy of the Power of Attorney should be enclosed with the return.

It is a tax imposed by the Government of India on any person who earns income in India. This tax is levied on the strength of an Act called Income tax Act which was passed by the Parliament of India.

An income tax notice is an official communication sent by the Income Tax Department to a taxpayer. It serves as a formal mode of communication for various reasons such as filing or not filing income tax return, a mismatch in the tax declared/tax paid, late tax payment, or other other discrepancy such as missed income declaration under a head like – income from other sources. Typically, such a notice outlines the issue at hand and may request further documentation, clarification, or payment of additional tax.

Currently, you can receive an income tax notice as an email attachment sent to the email id you have registered on the e-filing website. You can also log into your account on the official e-filing portal and check under the menu “Pending Actions” to view/download any notices that might require your immediate attention.

There are a number of reasons why an Income Tax Notice may be issued. Below are some common ones:

Discrepancies: Any inconsistencies between details you declared in your ITR and what the department has on record as per Form 26AS can trigger a notice.

Filing Error: One common reason is an error in the tax return you have filed such as using the wrong ITR form

Late Filing: If you miss the filing deadline, a notice for this will be issued Excess/Short Payment of Due Tax: This notice can mention a refund amount or a tax demand from tax authorities as applicable

Not Reporting High Value Transactions: A notice will also be issued if you have missed reporting high value transactions in your ITR such as cash deposit of over 2 lakh in your bank account during the fiscal

Random Scrutiny: If your ITR is picked for scrutiny at random by the IT Department, you will receive a notice to that effect.

• Intimation Under Section 143(1)
• Notice Under Section 142 (1)
• Notice Under Section 143(2) and Section 143(3)
• Demand Notices Under Section 156
• Notice Under Section 139(9)
• Tax Notice Under Section 148
• Summons Notice Under Section 131
• Intimation Under Section 245

The time allotted to send a response typically depends on the type of income tax notice you have received. For instance, there is no need to send a response if you have received a Section 143(1) notice, whereas a response must be provided within 15 days of receipt if you have received a tax notice u/s 139(9).

If you have received an income tax demand notice in your email but are not sure if it is real, it is best not to download the suspicious attachment. Instead, you should log into your e-filing account on the official e-filing portal and check if a demand notice is available under the menu “Pending Actions”. If you find a demand notice on the portal, you can download the document from the e-filing portal to get details and plan next steps.

The word Income has a very broad and inclusive meaning. In case of a salaried person, all that is received from an employer in cash, kind or as a facility is considered as income. For a businessman, his net profits will constitute income. Income may also flow from investments in the form of Interest, dividends, and Commission etc. Infect the Income Tax Act does not differentiate between legal and illegal income for purpose of taxation. Under the Act, all incomes earned by persons are classified into 5 different heads, such as:

• Income from Salary
• Income from House property
• Income from Business or Profession
• Income from capital gains
• Income from other sources

The income derived from the following assets in India acquired in foreign currency shall qualify for special treatment:

• Shares in Indian Companies(Public or Private company)
• Debentures, only issued by a publicly-listed Indian company (not private)
• Deposits with banks and public companies,
• Any security of the Central Government
• Other Central Government assets as specified under the official gazette.

Some investments under Section 80C:

• NRIs are not allowed to open new PPF accounts. However, PPF accounts that are opened while they are a resident are allowed to be maintained
• Investments in National Savings Certificates (NSCs)
• Post office 5-year deposit scheme
• Senior Citizen Savings Scheme (SCSS)

Filing Income Tax Return timely offers these benefits to NRIs:-

• Maintain Consistency in Tax Records
• Claim Foreign Tax Credit (FTC)
• Claim TDS/Tax Refunds
• Build Creditworthiness
• Easier Visa Application/Renewal

Even Non-Resident Indians come under the ambit of Advance tax. Advance tax is paid in the financial year/previous year on the basis of estimated tax liability for the year. If the tax liability is higher than Rs.10,000 then the assessee is required to pay his advance tax liability in four installments as mentioned in the Act.

In case of failure to pay advance tax on the specified due dates or on payment of less advance tax than the actual tax liability, interest under Section 234B & Section 234C is levied on the taxpayer.

NRI Pan Card is a legal Document for NRIs involved in financial transactions in India. It is a unique identifier given by the Income Tax Department. For NRIs earning income in India, through investments made in mutual funds, rental Property, and money transactions.

The NRI PAN card has many importance for financial transactions involving Non-Resident Indians (NRIs):

• To open a bank account.
• To invest in mutual funds.
• To buy or sell a property.
• To take a loan or other financial help from an Indian bank.

No, NRIs need a PAN card because they will have to file an income tax return if they have rented out the property. Also, if the property is sold later, the profit resulting from the sales would be subject to capital gains tax. Capital gains would be included in the total income while it is being taxed.

Here is the list of documents required for the NRI PAN card application:

Copy of your passport

A proof of address

A copy of a bank account statement where you live or a copy of an NRE bank account statement with at least 2 transactions in the past 6 months attested by the Indian embassy.

PAN card application

Proof of Date of Birth

Passport sized photographs

One needs to fill out an online application form for an NRI duplicate PAN card and upload scanned copies of the documents and self-attested proofs with the application form.r e-validation. You can then pay for the procedure either through a credit card, debit card, or net banking. That means one can get an NRI PAN Card without an Aadhaar card.

After the submission of the NRI PAN application to the authorities, the applicant will get the PAN card within 15 days of application at the address indicated by the applicant in the form.

No, Obtaining or possessing more than one PAN is against the law. {Section 139A (7)}

NRIs, or Indian citizens living abroad, can complete Form 49A. Form 49A is available at UTIITSL, Protean eGov Technologies Limited’s official website, and the NSDL e-Governance website.

USD fixed deposits function like regular fixed deposits but are held in US dollars (USD) instead of Indian Rupees (INR). This allows investors to earn fixed returns in a stable global currency while avoiding the risk of INR depreciation over time.

GIFT City (Gujarat International Finance Tec-City) is a smart city designed to cater to global finance, offering a tax-efficient and investment-friendly environment. It helps NRIs invest in foreign currencies while benefiting from India’s financial growth.

GIFT City is governed by IFSCA, which consolidates RBI, SEBI, and IRDAI regulations to ensure investor security.

No INR conversion needed – Invest directly in foreign currency.

No TDS – Unlike NRE/NRO accounts, withdrawals are tax-free in India.

Easier repatriation – Direct fund transfers without RBI approvals.

Tax planning should start at the beginning of a financial year, as it enables individuals and businesses to settle their financial affairs and take advantage of the best tax-saving opportunities. However, you can still benefit from it at any time during the year.

Beyond Section 80C, there are several avenues for tax savings. You can consider:

Claiming tax-deductible expenses such as insurance premiums, tuition fees for children, rent payments, home loan/stamp duty payments, interest on home loans, and medical expenses for dependent family members.

Exploring investment options like the National Pension Scheme (NPS) to optimize your income structure and minimize taxable income.

Diversifying your tax-saving investments across various asset classes and leveraging a mix of deductions and exemptions is key to comprehensive tax planning.

Several common mistakes can hinder effective tax planning: Relying Solely on Tax-saving Mutual Funds: While these are popular, limiting oneself to these funds may not optimize tax savings.

Diversifying across different tax-saving instruments is advisable. Procrastinating Investments: Delaying tax-saving investments until the last quarter can lead to hasty decisions.

It's better to plan investments strategically throughout the year. Lack of Diversification: Placing all tax-saving funds into a single asset class is risky. Diversification helps manage risks and potentially enhances returns.

Yes, the employee has to intimate the employer regarding his intended tax regime during the year. If the employee does not make an intimation, it shall be presumed that the employee continues to be in the default tax regime and has not exercised the option to opt out of the new tax regime. Thus, the employer shall deduct tax in accordance with the rates provided under section 115BAC.

However, the intimation made to the employer would not amount to exercising the option in sub- section (6) of section 115BAC for opting out of the new tax regime. The employee shall be required to do so separately before the due date specified under section 139(1) for filing of return of income.

In new tax regime, Chapter-VIA deductions cannot be claimed, except deduction u/s 80CCD(2)/80CCH/80JJAA as per the provision of Section 115BAC of the Income Tax Act, 1961. In case, taxpayer wants to claim any deductions (as applicable), then taxpayer needs to choose the old tax regime by selecting “Yes” option in ITR 1 / ITR 2 (or) “Yes, within due date” option in ITR 3 / ITR 4 / ITR 5 in the field provided for “opting out option” under Schedule ‘Personal Information’ or ‘Part- A General’ in the respective ITR.

Form 10-IEA is applicable to AOP’s (other than Co-operative society) or BOI or AJP, who are filing return of Income in ITR-5 for AY 2024-25.

Form 10-IFA is applicable to new manufacturing co-operative Societies resident in India filing ITR 5, if they wish to avail New Tax Regime under Section 115BAE for AY 2024-25.

Presumptive Taxation involves the use of indirect methods to compute tax liability where the taxable income is calculated based on assumptions instead of actuals. Here, the business entity is required to declare a given percentage of its business turnover (or gross receipts in case of professionals) as its income and pay a fixed percentage of it as tax. As per Finance Act 2016, professionals (as notified by CBDT) with gross receipts upto Rs. 50 Lakhs for the period April 1st, 2016 to March 31st 2017 can opt for presumptive taxation.

The combined holdings of a fund scheme consisting of securities like short-term debt, stocks, bonds, etc., is called a mutual fund portfolio.

No, debt funds are not free of risk. However, they are less risky if you compare them to equity funds as they do not invest in equities.

Tax planning can be defined as an arrangement of one’s financial and economic affairs by taking complete legitimate benefit of all deductions, exemptions, allowances and rebates so that tax liability reduces to minimum. Essential features of tax planning are as under –

• It comprises arrangements by which tax laws are fully complied.


• All legal obligations and transactions (both individually and as a whole) are met.


• Transactions do not take the form of colourable devices (i.e., those devices where statute is followed in strict words but actually spirit behind the statute is marred would be termed as colourable devices).


• There is no intention to deceive the tax law's legal spirit

The following are the broad areas of distinction between the two:

Tax management involves the procedures of compliance with the statutory provisions of law. The following are the broad areas of distinction between tax planning and tax management.

Remuneration planning – Making a selection between different possible remuneration plans keeping in view the following broad objectives is remuneration planning-

1. Whatever is paid by employer is deductible in the hands of the employer while calculating business income of the employer.
2. In the hands of the employee it is not chargeable to tax or it is subject to lower tax incidence.

Broad Hints – Remuneration should be paid in the form of basic salary, different allowances and different perquisites. Tax bill of employees can be reduced substantially if salary is divided into different allowances (which are not taxable or which are partially exempt from tax) and perquisites (which are taxable at concessional rate). The optimum combination of allowances and perquisites depends upon individual requirement of each employee taking into consideration present take home pay and future benefits of different items in salary structure.

• Salary – In case of new appointment, basic salary may be taken at 25 to 30 per cent of total pay package. There is no hard and fast rule. However, tax liability can be reduced if basic salary is reduced and the expenditure by the employer on allowance and perquisites is increased.


• Allowances – The following allowances can be given-


1. Education allowance for two children may be given wherever it is possible.
2. Uniform allowance may be given if the employer has uniform code in the organization.
3. Helper allowance may be given for engaging a helper at residence to complete office work after office hours.
4. Research allowance can be given for conducting a research on behalf of employer.


• Perquisites – A rent-free house may be given if the employee is interested in employer’s accommodation. If the employee owns a house which he has occupied for his own residence, the house may be taken by the employer on self lease and the same house may be allotted to the employee as rent-free perquisite.Besides, the following perquisites may be given to employees (in the same order of priority) as given below as far as possible-

1.) Tea, coffee, snacks, lunch/dinner in factory or office.

2.) Conference participation fees.

3.) Computer or laptop for office and private use.

4.) LTC twice in a block of four years.

5.) Medi-claim insurance premium for employee and his family members.

6.) Motor car for office and private use along with driver.

7.) Telephone at residence along with mobile phone.

8.) Staff welfare expenses.

9.) Free holiday home.

10.) Gift in kind.

11.) Club including health club.

12.) Scholarship to children.

For the purpose of tax planning regarding income from house property, the following broad propositions should be borne in mind. However, these propositions would hold good in the context in which they have been made:

• If a person has occupied more than two houses for his own residence, only two houses of his own choice are treated as self-occupied and all the other houses are deemed to be let out. The tax exemption applies only in the case of two self-occupied houses and not in the case of deemed to be let out properties. Care should, therefore, be taken while selecting two houses to be treated as self-occupied to minimise tax liability.


• As interest payable out of India is not deductible if tax is not deducted at source (and in respect of which there is no person who may be treated as an agent under section 163), care should be taken to deduct tax at source in order to avail exemption under section 24(b).


• As amount of municipal tax is deductible on “payment” basis and not on “due” or “accrual” basis, it should be ensured that municipal tax is actually paid during the previous year if the assessee wants to claim deduction.


• As a member of a co-operative society to whom a building or part thereof is allotted or leased under a house building scheme is the deemed owner of the property, it should be ensured that interest payable (even if not paid) by the assessee, on outstanding instalments of the cost of the building, is claimed as a deduction under section 24.


• If an individual makes a cash gift to his wife who purchases a house property with the gifted money, the individual will not be deemed as fictional owner of the property under section 27(i) – K.D. Thakar v. CIT [1979] 120 ITR 190 (Guj.). Taxable income of the wife from the property is, however, includible in the income of individual in terms of section 64(1)(iv). Such income is to be computed under section 23(2) if she uses the house property for her own residential purposes. It can, therefore, be advised that if an individual transfers an asset, other than house property, even without adequate consideration, he can escape the deeming provision of section 27(i) and the consequent hardship.


• Under section 27(i), if a person transfers a house property without consideration to his/her spouse (not being a transfer in connection with an agreement to live apart), or to his minor child (not being a married daughter), the transferor is deemed to be the owner of the house property. This deeming provision was found necessary in order to bring this situation in line with the provision of section 64. But when the scope of section 64 was extended to cover transfer of assets without adequate consideration to son’s wife or minor grandchild by the Taxation Laws (Amendment) Act, 1975, with effect from the assessment year 1976-77 onwards, the scope of section 27(i) was not similarly extended. Consequently, if a person transfers house property to his son’s wife without adequate consideration, he will not be deemed to be owner of the property under section 27(i), but income earned from the property by the transferee will be included in the income of the transferor under section 64 – see CIT v. H.L. Gulati [1982] 11 Taxman 167 (All.). For the purpose of sections 22 to 27, the transferee will, thus, be treated as an owner of the house property and income computed in his/her hands is included in the income of the transferor under section 64. Such income is to be computed under section 23(2) if the transferee uses that property for self-occupation. Therefore, in some cases, it is beneficial to transfer the house property without adequate consideration to son’s wife or son’s minor child.

For the purpose of tax planning regarding income under the head “Capital gains”, the following propositions should be borne in mind. However, these propositions would hold good in the context in which they have been made –

• Since long-term capital gains bear lower tax, taxpayers should so plan as to transfer their capital assets normally only 36 months (24 months/12 months in a few cases) after acquisition. It is pertinent to note that if the capital asset is one which became the property of the taxpayer in any of the manner specified in section 49(1), the period for which it was held by the previous owner is also to be counted in computing 36 months (24 months/12 months in a few cases).


• The assessee should take advantage of exemption under section 54 by investing the capital gain arising from the sale of residential house property in the purchase of another house within the specified period. It may be noted that for claiming exemption for the assessment year 2015-16 (or any subsequent year), the new house property should be situated in India.


• In order to claim advantage of exemption under sections 54B, 54D, 54EC and 54EE it should be ensured that the investment in new asset is made only after effecting transfer of capital assets.


• In order to take advantage of exemption under sections 54, 54B, 54D, 54EC, 54F, 54G and 54GA the taxpayer should ensure that the newly acquired asset is not transferred within three years from the date of acquisition. In this context, it is interesting to note that the transfer of a newly acquired asset according to the modes mentioned section 47 is not regarded as “transfer” even for this purpose. Consequently, newly acquired assets may be transferred even within 3 years of their acquisition according to the modes mentioned in section 47 without attracting capital gains tax liability. Alternatively, it will be advisable that instead of selling or converting assets acquired under sections 54, 54B, 54D, 54F, 54G and 54GA into money, the taxpayer should obtain loan against the security of such asset (even by pledge) to meet the exigency


• In two cases, surplus arising on sale or transfer of capital assets is chargeable to tax as short-term capital gain by virtue of section 50. These cases are:

(a) when written down value of a block of assets is reduced to nil, though all the assets falling in that block are not transferred,

(b) when a block of assets ceases to exist.

Tax on short-term capital gain can be avoided if –

a. another capital asset, falling in that block of assets, is acquired at any time during the previous year; or

b. benefit of section 54G/54GA is claimed.

Taxpayers desiring to avoid tax on short-term capital gains under section 50 on sale or transfer of capital asset, can acquire another capital asset, falling in that block of assets, at any time during the previous year.

Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

In simple words, Goods and Service Tax is an indirect tax levied on the supply of goods and services. GST Law has replaced many indirect tax laws that previously existed in India.

There are 3 taxes applicable under GST: CGST, SGST & IGST.

• CGST: Collected by Central Government on an Intra-State sale. (Eg: Within Delhi)
• SGST: Collected by the State Government on an Intra-State sale (Eg: Within Delhi)
• IGST: Collected by the Central Government for Inter-State sale (Eg: Delhi to Tamil Nadu)

Transaction under old/new regime will be as follows:

GST Registration is a registration with the GST authorities. Via GST Registration, a unique 15-digit Goods and Service Tax Identification Number (GSTIN) is allotted by the GST authorities In any tax system this is the most fundamental requirement for identification of the business for tax purposes or for having any compliance verification program.

Registration under Goods and Services Tax (GST) regime will confer the following advantages to business:

• Legal recognition as the supplier of goods or services across the nation.
• Removal of cascading tax effects, composition Scheme for small business & online simpler procedure.
• Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on supply of goods and/or services by the business. Pass on the credit of the taxes paid on the goods and/or services supplied to purchasers or recipients.

Liability for Registration
Registration under the GST Act is mandatory if your aggregate annual PAN-based turnover exceeds INR 20,00,000 (Rupees Twenty Lakhs) however the threshold for registration is INR 10,00,000 (Rupees Ten Lakhs) if you have a place of business in Arunachal Pradesh, Assam, Himachal Pradesh, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, or Uttarakhand.

Further, Irrespective of the Turnover, registration is mandatory for following:

Inter-State Supplies, Agent for Registered Principal, Liable to Pay Reverse Charge, Non-resident Taxable Person, Casual Taxable Person, Input Service Distributor, TDS/TCS Deductor, E-commerce Operator & An online data access and retrieval service provider.

To apply for a new registration, you must have:

• PAN of the GST Registration Applicant
• Proof of Business Registration or Incorporation Certificate
• Identity and Address Proof of Promoters/Partners (as the case maybe) with Photograph
• Address Proof for the place of Business
• Bank Account Statement showing Name, Address & Few Transaction
• Class 2 DSC for the Authorized Signatory (Mandatory for Companies)

Note: Your mobile number should be updated with the Aadhaar authorities otherwise you cannot use E-Sign option because OTP will be sent to the number in the Aadhaar database.

Prescribed Returns under the GST act along with their due dates are as follows:

As per Notification No. 12/2017 (Central Tax- Rate) dated 28th June 2017, the following services of advocates are exempted:

• Services by firm of advocates / an individual advocate other than a senior advocate, by way of legal services to:
• an advocate or partnership firm of advocates providing legal services;
• any person other than a business entity; or
• a business entity with an aggregate turnover up to twenty lakh rupees in the preceding financial year
• Services by a senior advocate by way of legal services to:
• any person other than a business entity; or
• a business entity with an aggregate turnover up to twenty lakh rupees in the preceding financial year.

In Cases other than covered above, where exemption does not apply, GST Registration is required.

GST is leviable only if aggregate turnover is more than 20 lakhs. (Rs.10 lacs in 11 special category States). For computing aggregate supplies turnover of all supplies made by you would be added.

The export of goods or services is considered as a zero-rated supply. Under GST, exporters are required to pay Integrated GST on exports and then claim refunds.

However, Govt. has give options to the Regular Exporters to furnish a Letter of Undertaking/ Bonds (as the case may be) and they will be entitled to export goods and services without the payment of GST.

Refunds may be claimed for the Input Tax Credit (Eligible) in the prescribed manner as stated in the law.

Under the GST regime, availment of input tax credit has been simplified to avoid the cascading deficiencies which were existing under the former regime.

The input tax credit will be set off as follows:

Input Tax in relation to a taxable person, means the Goods and Service Tax charged on any supply of goods and/or services to him which are used or are intended to be used, during furtherance of the business.

A registered person will be eligible to claim Input Tax Credit (ITC) on fulfillment of the following conditions:

1. Possession of a tax invoice or debit note or document evidencing payment
2. Receipt of goods and/or services
3. Goods delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods
4. Furnishing of a return
5. Where goods are received in lots or installments ITC will be allowed to be availed when the last lot or installment is received.
6. Failure to the supplier towards supply of goods and/or services within 180 days from the date of invoice, ITC already claimed will be added to output tax liability and interest to paid on such tax involved. On payment to supplier, ITC will be again allowed to be claimed
7. No ITC will be allowed if depreciation have been claimed on tax component of a capital good
8. If invoice or debit note is received after:

• the due date of filing return for September of next financial year or
• filing annual return (whichever is later).

Business and management consultants are experts who provide objective advice and guidance to organizations to improve their performance, solve problems, and achieve their goals.They analyze business processes, identify areas for improvement, develop strategies, and implement solutions.

• Objective Expertise:

• Problem Solving:

• Improved Efficiency:

• Innovation and Growth:

• Access to Talent:

Consultants assist businesses in developing strategic plans that align with their goals. They analyze current operations, identify areas for improvement, and recommend strategies to enhance competitiveness and profitability. This process often includes market analysis, competitive benchmarking, and the development of actionable plans.

• Strategic Consulting: Helping organizations develop and implement long-term plans.


• Operational Consulting: Improving efficiency and effectiveness of business processes.


• Technology Consulting: Advising on technology implementation and integration.


• Financial Consulting: Providing expertise in financial planning and management.


• Human Resources Consulting: Helping organizations manage their workforce effectively.

• Litigation is the process of resolving disputes through the court system.


• It involves bringing a legal action or lawsuit before a court of law, administrative agency, or other judicial body.


• Disputes can range fromcontract breaches and business disagreements to personal injury claims and complex commercial litigation.

• Pre-Litigation Planning: This involves assessing the case, gathering evidence, and determining the best course of action.


• Commencement of Action: Filing a lawsuit or complaint with the relevant court.


• Discovery Process: Parties exchange information and documents through interrogatories, depositions, and document requests.


• Pre-Trial Conference: A meeting with the judge to discuss the case and potential settlement options.


• Trial: The formal presentation of evidence and arguments before a judge or jury.


• Post-Trial Evaluation and Analysis: Assessing the outcome of the trial and determining further steps.

• Effective Communication and Collaboration: Maintaining open communication with legal counsel and other parties involved.


• Budgeting and Cost Control: Developing a budget for litigation expenses and monitoring costs.


• Strategic Case Assessment: Regularly evaluating the case and adjusting strategies as needed.

The exact procedure depends on the issue under litigation. However, business litigation is governed by the same process as other civil litigation. An attorney should be obtained. Legal processes such as motions, trials, and appeals are also the same.

Mediation uses a neutral mediator to work with both parties. The mediator facilitates discussion and helps both parties work towards a consensus and a resolution that both sides can accept. In an arbitration, the neutral arbitrator hears both sides of an issue and makes a decision. Generally, the parties in an arbitration are bound to accept the arbitrator’s ruling.

In an arbitration, the answer is usually yes. Often, the parties in an arbitration sign a legally binding agreement to abide by the arbitrator’s decision. If the parties in a mediation are dissatisfied with the result, they can set it aside and proceed to court.

Mediation is non-binding and the issues in a mediation can therefore be taken to court. This is not an appeal, since mediation and legal proceedings are two different processes. Appeals may occur after an arbitration, if the parties agree in the initial contract to allow one.

A private limited company is a company privately held for small businesses. This type of business entity limits owner liability to their shareholdings, the number of shareholders to 200, and restricts shareholders from publicly trading shares.

• Limited risk to personal assets
• Legal Entity
• Raising Capital
• Trustworthiness
• Continue Existence

The prerequisites for the incorporation of a private limited company are that:

• The number of members must be between 2-200.
• There must be at least two directors and two shareholders
• Each director must have a Directors Identification Number (DIN)
• PAN card copy of directors/shareholders and Passport copy for NRI subscribers

Yes. The company needs to provide address proof for incorporation. But the Ministry of Corporate Affairs (MCA) allows a residential address to be used as the company’s registered address. Thus any address can be provided as the registered address.

Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.

The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.

Yes, it is mandatory to file eMOA and eAOA in the following circumstances, where the number of subscribers are up to 7:

• Individual subscribers are Indian nationals
• If individuals subscribers are foreign nationals, then they have a valid DIN and DSC and also submit proof of a valid business visa
• Non-individual subscribers based in India.

On acceptance of SPICe forms, the Certificate of Incorporation (COI) will be issued with valid PAN and TAN as allotted by the Income Tax department. An email with the COI as an attachment along with PAN and TAN will be sent to the applicant.

Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.

A company is required to maintain certain compliances once it is incorporated. An auditor needs to be appointed within 30 days and income tax filing and annual return filing needs to be done every year. Apart from these, mandatory compliances like ‘Commencement of Business’ forms, and DIN eKYC also needs to be done.

The Public Limited Company is a wider form of the limited company, which has no restriction on the maximum number of shareholders, listing its shares in the stock market, transfer of shares, and raising funds from public and accepting public deposits.

For setting up a public limited company anywhere in India, there are required a minimum of Seven Shareholders and Three Directors; the directors can also be shareholders. The requirement of the minimum paid-up share capital worth INR 5 Lac, has been removed by the Companies (Amendment) Act, 2015.

As a public limited company deals with public money, it has to make rather heavy compliances strictly, which are bulkier than those performed by a private limited company. Apart from the regular compliances related with income tax, there are many periodic and annual compliances to be made by a public limited company with ROC/MCA, SEBI, RBI, etc. These regulatory liabilities are in addition to securing and promoting steadily the profits and welfare of all shareholders of the public limited company.

There are the following two authentic options for registering a public limited company anywhere in India :

OPTION 1

Register the company through filing the Integrated Incorporation Form INC-29, with the MCA.

OPTION 2

Apply for getting approval and reservation of any of the proposed names, through Form INC-1, sent to the Central Registration Centre.

Filing Form INC-7 for incorporation of the public limited company.

Filing Form INC-22, Form DIR-12, etc., together with all required documents

Yes, an NRI or Foreign National can also be a shareholder or director in a public limited company of India. For becoming a director, besides the basic requirement of being a sensible adult, such a person must possess the DIN issued by MCA.

Public limited companies are broadly categorised into two distinct types:

Listed Company

This type of public limited company has its shares actively listed and available for trading on one or more stock exchanges. This accessibility allows the public and various financial entities to buy and sell the company's shares, providing greater liquidity and exposure to a diverse pool of investors.

Unlisted Company

Unlike its listed counterparts, an unlisted public limited company does not have its shares traded on any stock exchange. As a result, its shares are not as easily transferable, and the company does not experience the same level of public scrutiny or regulatory requirements as a listed company. This category of public limited company may appeal to businesses seeking to benefit from a broader base of shareholders while avoiding the complexities of full public trading.

A limited liability partnership (LLP) is a business structure that combines aspects of a partnership and a company. It protects partners from personal liability for the business's debts.

A limited liability partnership (LLP) is a flexible legal and tax entity where every partner has a limited personal liability for the debts or claims of the partnership.

Partners of an LLP can benefit from economies of scale by working together while also reducing their liability for the actions of other partners.

The formation and regulation of limited liability partnerships is governed by Limited Liability Partnership Act, 2008 and the rules made thereunder i.e. Limited Liability Partnership Rules, 2009.

A limited liability partnership has the following benefits:

1. The nature of a limited liability partnership firm is that of a body corporate.
2. It has a legal entity separate from its partners.
3. Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership. Thus, forming a limited liability partnership firm is more favourable.

As per Section 2(1)(m) of the Act, a “foreign limited liability partnership” means a limited liability partnership formed, incorporated or registered outside India which establishes a place of business within India.

The liability of each partner is limited to their contribution to the LLP.

You'll need PAN cards/ID proofs and address proofs of partners, as well as other documents as required by the Ministry of Corporate Affairs (MCA).

Every LLP must have at least two designated partners, and at least one of them must be a resident of India.

It's a written agreement between the LLP and its partners, outlining their mutual rights and duties, and is mandatory to be drafted within 30 days from the date of incorporation.

As per Section 26 of the Act, every partner of a limited liability partnership is, for the purpose of the business of the limited liability partnership, the agent of the limited liability partnership, but not of other partners.

A Partnership Firm in India is governed by the provisions of The Indian Partnership Act, 1932. As per Section 4 of the Indian Partnership Act ‘’Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all’’.

The formation and regulation of limited liability partnerships is governed by Limited Liability Partnership Act, 2008 and the rules made thereunder i.e. Limited Liability Partnership Rules, 2009.

A Partnership Deed is a written legal document signed by the partners at the time of commencement of the partnership. A partnership deed or a partnership agreement is the essence of the partnership where all terms and conditions pertaining to the partnership are set forth. The partners can make changes in the terms of the Partnership Deed at any time in the future at their mutual consent.

Minimum of two persons can form a partnership. Rule 10 of Companies (Miscellaneous) Rules, 2014 restricts the maximum number of partners to form a partnership to fifty.

In India Registration of a partnership firm is not compulsory but optional. However a partnership firm cannot avail certain legal benefits provided to the firm under the partnership act, 1932, if the firm is not registered.

• Partnership deed, duly executed.
• Application form in Form I, signed by all partners.
• Address proof of the partnership firm
• Proof of identity and address proof of all the partners in the firm

The registration of a Partnership Firm in India can take up to 10 to 14 working days. However, the time taken to issue a certificate of incorporation may vary as per the regulations of the concerned state. The registration of a Partnership Firm is subject to government processing time which varies for each State.

Every partner is jointly liable with all the other partners and also individually, for all acts/activities of the firm, during the course of business while he/she is a partner. This means that if a loss or injury is caused to any third party or a penalty is levied during the course of business all partners will be held liable even if the injury or loss was caused by one of the partners.

• A Section 8 company, as defined in the Companies Act, 2013, is a non-profit organization that's formed to promote art, science, sports, education, or other socially beneficial purposes.
• They are not established with the primary goal of making profits, and any profits generated must be reinvested to further their objectives.
• They are not allowed to distribute profits to their members or shareholders.

Section 8 companies can avail tax exemptions under the Income Tax Act, subject to meeting prescribed conditions and complying with reporting requirements. Donations to these companies may also be eligible for tax deductions under Section 80G of the Income Tax Act.

Yes, they can, as per the Companies Act of 2013[1]. The act per say does not prohibit a Trust/Co-Operative Society from becoming a member of a Section 8 company.

Minimum of two persons can form a partnership. Rule 10 of Companies (Miscellaneous) Rules, 2014 restricts the maximum number of partners to form a partnership to fifty.

Yes, AOA can have an entrenchment clause. As per Section 5(3) of the act an Articles of Association (AoA) of a Section 8 Company can have an entrenchment clause.

• Form MGT-7 for filling an annual return of the company. This must be filled within sixty days of the last annual general meeting (AGM).
• AOC-4 for filling financial statement of the company. This must be filled within 30 days of last AGM.

The IEC (Import Export Code) is a 10-digit code required for any business entity engaged in import or export activities in India.

Any individual or business entity intending to engage in import or export activities in India needs to obtain an IEC.

The IEC is issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce, Government of India.

No, IEC is only required for business and commercial purposes, not for personal use.

The PAN (Permanent Account Number) of the applicant is the registration number of IEC.

No, only one IEC registration is required for each firm.

Yes, IEC is a lifetime valid code.

IEC holders must renew or update their registration electronically on or before June 30th of each year.

For IEC Code Registration, the following documents are required:

• Individual's or Firm's or Company's copy of PAN Card.
• Individual's voter ID or Aadhar card or passport copy.
• Individual's or company's or firm's cancelled cheque copies of current bank accounts.
• Copy of Rent Agreement or Electricity Bill Copy of the premise.

• RERA is a law that aims to protect homebuyers and promote transparency in the real estate sector by establishing a Real Estate Regulatory Authority (RERA) for regulation and promotion.
• It came into force on May 1, 2016.
• The purpose is to ensure transparency, protect consumer interests, and establish a mechanism for speedy dispute redressal.

• Any builder intending to develop a commercial or residential property on land measuring more than 500 square meters or with the number of proposed apartments exceeding eight must obtain RERA registration.
• Real estate agents involved in selling and purchasing properties are also required to obtain RERA registration.

• Financial Security:
• RERA ensures that developers use funds collected from buyers for project-related expenses only.
• Clarity on Carpet Area and Pricing:
• RERA mandates that developers clearly state the carpet area and pricing of properties.
• Structural Defect Liability:
• RERA ensures that developers are liable for structural defects for a specified period.
• Protection Against False Advertisements
• RERA prevents developers from making false or misleading claims about their projects.

• Developers who fail to adhere to RERA mandates or directions can face penalties, including fines and revocation of registration.
• The penalties are determined by the RERA authority.

• RERA is applicable to projects that are launched after the Act came into force (May 1, 2016).
• However, some states have provisions for existing projects to also register under RERA.

• The validity period of RERA registration for real estate projects is typically 5 years.
• The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has increased the validity period of registration of real estate agents to 10 years from the previous 5 years.

• A developer cannot exit a project midway without the consent of the homebuyers and the RERA authority.
• If a developer wants to sell the project to another party, they need to obtain the consent of the homebuyers and the RERA authority.

• MSME stands for Micro, Small, and Medium Enterprises, which are crucial for economic growth, job creation, and innovation in India.
• They are businesses involved in manufacturing or providing services, contributing significantly to India's GDP and exports.

• Registration under the Udyam Registration (UAM) portal allows businesses to access various government schemes, benefits, and preferential treatment in public procurement.
• It also helps in accessing credit facilities, technology upgrades, and other support services.

• Credit Linked Capital Subsidy Scheme (CLCSS): This scheme provides financial assistance for technology upgradation.
• Public Procurement Policy: This policy mandates a minimum percentage of procurement from MSMEs, including those owned by women.
• PM Employment Generation Programme: This scheme aims to generate employment in rural and urban areas through setting up micro and small enterprises.

• MSMEs often struggle with access to finance, technology, and skilled manpower.
• They also face challenges related to infrastructure, marketing, and competition.

• Buyers are obligated to make payments to MSME suppliers within 45 days from the date of purchase, or as per the agreed terms in a written agreement.
• If there is no written agreement, the payment must be made within 15 days.

• MSME’s need to do Udyog Aadhar registration to avail the MSME benefits.

• Documents required for Udyog Aadhar registration are as below: Aadhaar Number, Name of Owner/Promoter, Category, Business Name, Type of Organization, Address, Date of Commencement, Previous Registration Details (if any), Bank Details, Key Activity, National Industrial Classification (NIC) Code, Investment in Plant & Machinery / Equipment, District Industry Center (DIC).

• The MSME Unit can approach directly to any of our branch offices and submit their request for loan requirement from any of the banks under our tie up agreement. The official sitting at the branch will provide hand holding support to the MSME unit by assisting them in completing all documentation as required for further submission to the bank.

Inventory financing offers a short-term financial fix where businesses use their inventory as collateral. Loan providers determine a funding percentage based on this inventory and give out loans. This is key for businesses that handle sizable amounts of inventory. Based on the company's inventory, the intere­st rate and loan amount vary with each lender.

• Inventory loan
• Inventory line of credit

Here are some common qualifying conditions for securing inventory financing loans:

• Candidates must not have a history of credit defaults with any financial institution.
• The business must remain open and operating in the same geographical distribution for at least a year.
• A sizeable yearly turnover rate (the precise amount may differ depending on the lending institution)
• Businesses submitting applications ought to have a strong credit standing.
• The company needs to have a consistent track record of profitable sales.

As part of the financing arrangement, the inventory is used as collateral. As long as inventory prices are reasonably stable, financing can account for up to 70% of inventory values. Financing inventory can come at a very high cost, up to 6% above the prime lending rate.

• Self-Funding: Using personal savings or resources to finance the business.
• Angel Investors: Individuals who invest their own money in exchange for equity in a startup.
• Venture Capital: Funds managed by firms that invest in high-growth potential startups, often taking equity stakes.
• Crowdfunding: Raising funds from a large number of people, typically online.
• Small Business Loans: Loans from banks or financial institutions specifically designed for small businesses.
• Grants and Subsidies: Financial assistance from government or other organizations.

• Create a detailed business plan that outlines your startup's financial projections and funding requirements.
• Identify all startup costs, including development, marketing, operations, and salaries.
• Consider your growth plans and how much capital you'll need to achieve your goals.

• Pre-Seed: Initial funding to validate a business idea and develop a minimum viable product (MVP).
• Seed: Funding to launch the business, develop a product, and begin marketing efforts.
• Series A: Funding to scale the business, expand operations, and build a team.
• Series B and beyond: Funding for continued growth, market expansion, and potentially an IPO.

• Poor Business Plan
• Over-Promising
• Lack of Transparency
• Not Understanding Your Audience
• Ignoring Feedback

Due diligence is a thorough examination or investigation conducted before entering into a business transaction, such as a merger, acquisition, or investment.

• Risk Mitigation: It helps identify and assess potential risks associated with a transaction, allowing for proactive measures to mitigate them.
• Informed Decision-Making: By providing a comprehensive understanding of the target company or asset, due diligence enables investors or buyers to make informed decisions.
• Legal Compliance: It ensures compliance with legal and regulatory requirements, minimizing the risk of non-compliance issues.

• Planning:Define the scope and objectives of the due diligence process, including the specific areas to be reviewed.
• Information Gathering: Collect relevant documents, data, and information from various sources.
• Review and Analysis: Analyze the gathered information to identify potential risks and issues.
• Documentation: Document all findings and conclusions in a clear and concise manner.
• Reporting:Prepare a comprehensive report summarizing the findings and recommendations.

• Financial statements, accounts, tax returns, assets and budget statements
• Legal agreements, contracts, disputes, patents, trademarks and licenses
• Corporate structure, governance, board members and board meeting minutes
• Market share and position, competitors, products and services
• Employee information, remuneration and benefits, organisational structure

Pre-IPO shares refer to shares of privately-held companies that are “late stage”, meaning they have reached a size where they would commonly pursue a liquidity event, such as a company sale or an IPO.. These shares are typically purchased in “secondary” transactions from existing shareholders, such as employees, early investors, or venture capitalists, rather than directly from the company itself (referred to as a “primary” transaction.

• Research and due diligence
• Accreditation and verification
• Placing a bid or offer
• Executing the transaction

• Risk and illiquidity
• Financial stability of the company
• Lock-up periods
• Diversification
• Legal and tax implications

• Potential for high returns
• Access to promising companies
• Possibility of preferential treatment
• Diversification of investment portfolio

• Lack of liquidity
• Lock-up periods
• Dilution and ownership rights
• Limited information and transparency
• Higher risk of failure
• Uncertain valuation

• Residential: Single-family homes, apartments, and townhouses.
• Commercial: Office buildings, retail spaces, and industrial properties.
• Mixed-use: Properties that combine residential and commercial spaces.

• Location
• Property type
• Financial capacity
• Market conditions

• Research:Thoroughly research the market and identify promising areas.
• Network:Connect with real estate professionals, investors, and property managers.
• Due diligence:Carefully inspect properties and conduct legal and financial checks.

• Market fluctuations:Real estate values can decline, impacting your investment.
• Vacancy and rental income risks:Properties may remain vacant or generate lower income than expected.
• Maintenance and repair costs:Unexpected repairs and maintenance can be costly.

• Property management: Consider hiring a property manager to handle day-to-day operations.
• Financial planning: Track your income and expenses, and develop a budget.
• Legal compliance: Ensure you are following all relevant laws and regulations.

What are the tax implications of real estate investment in India?

• Capital gains tax:Profits from the sale of property are subject to capital gains tax.
• Income tax:Rental income is taxable.
• Property tax: You will need to pay property tax on the property you own.

Portfolio Management Services (PMS), service offered by the Portfolio Manager, is an investment portfolio in stocks, fixed income, debt, cash, structured products and other individual securities, managed by a professional money manager that can potentially be tailored to meet specific investment objectives. When you invest in PMS, you own individual securities unlike a mutual fund investor, who owns units of the fund.

Discretionary : Under these services, the choice as well as the timings of the investment decisions rest solely with the portfolio manager.

Non-Discretionary: Under these services, the portfolio manager only suggests the investment ideas. The choice as well as the timings of the investment decisions rest solely with the Investor. However the execution of trade is done by the portfolio manager.

Advisory: Advisory as the name suggests involves advising the client on managing the investments. The client manages his own portfolio while the fund manager plays the role of an advisor only.

Professional Management: The service provides professional management of portfolios with the objective of delivering consistent long-term performance while controlling risk.

Continuous Monitoring: It is important to recognise that portfolios need to be constantly monitored and periodic changes made to optimise the results.

Hassle Free Operation: Portfolio Management Service provider gives the client a customised service. The company takes care of all the administrative aspects of the client's portfolio with a periodic reporting (usually daily) on the overall status of the portfolio and performance.

Flexibility: The Portfolio Manager has fair amount of flexibility in terms of holding cash (can go up to 100% also depending on the market conditions). He can create a reasonable concentration in the investor portfolios by investing disproportionate amounts in favour of compelling opportunities.

Transparency: PMS provide comprehensive communications and performance reporting. Investors will get regular statements and updates from the entity.

As per SEBI guidelines, a portfolio manager cannot give any guarantee towards achieving any specific returns. However, with a calculated risk and keeping downside protection in mind, we will endeavour to outperform the returns provided by the relevant benchmark index.

Backed with a strong research team, we have a competent, experienced fund manager with more than 10 years of experience in the industry and capital market to manage the funds.

• An individual
• HUF
• Body Corporate
• Non-resident Indian (subject to certain conditions)

Under discretionary portfolio management services, the investor can mention specific needs (like sector restrictions) which the fund manager will keep in mind while investing your funds. However, the sole authority of investment decisions will be with the portfolio manage