Starting a business alone? A One Person Company (OPC) might be the perfect choice! Introduced under the Companies Act, 2013, an OPC allows a single entrepreneur to run a legally recognized business with the benefits of limited liability, better credibility, and structured growth. Let’s dive...
Advance tax is the income tax you pay in advance for the financial year instead of paying it in a lump sum at year-end. This ensures that taxpayers contribute to government revenues periodically based on their earnings. Who Needs to Pay Advance Tax? Advance tax applies to: ✔️...
House Rent Allowance (HRA) is a familiar term for most salaried individuals. It’s there on our pay slips, a part of our income, but how many of us truly understand how it works? Here’s a closer look at why HRA isn’t just another salary component...
Tax Deducted at Source (TDS) is a crucial component of India’s taxation framework, ensuring taxes are collected at the point of income generation. For businesses and employers, timely and accurate filing of TDS returns is a legal obligation that cannot be ignored. Let’s dive into...
When deciding on the best structure for your business, the choices can seem overwhelming. For many, the decision often boils down to choosing between the simplicity of a partnership and the security of a company. But what if there were a third option that offered...
Starting your entrepreneurial journey with a sole proprietorship is a fantastic option for many first-time business owners. It’s simple, flexible, and allows you to experiment with your ideas while facing minimal bureaucracy. But, what if we told you that you could elevate your sole proprietorship...
When starting a business, the most important decision is choosing the right structure. A well-chosen structure can shape the future of your venture. Among the various options, a Private Limited Company (Pvt. Ltd.) stands out for its multiple advantages. But is it the right choice...
