Team Legistify | Legistify

Team Legistify
Answered on 13 Oct 2019

Reverse charge is a mechanism where the recipient of the goods and/or services is liable to pay GST instead of the supplier.  When is Reverse Charge Applicable: Supply from an Unregistered dealer to a Registered dealer Services through an e-commerce operator Supply of certain goods and services specified by CBEC GST is an application of freight paid for the transportation of goods on reverse charge basis.  GST leviable on under section 9 of CGST Act 2017, shall be paid on reverse charge basis by the recipient of supply of services by a goods transport agency (GTA) in respect of transportation of goods by road to: 1. any Factory registered under or governed by the Factories Act, 1948 2. any Registered Society 3. any Co-Operative Society established by or under any law; or 4. Any Company 5. any Partnership Firm. 6. Association of person. 7. any GST registered person.  Read More

Posted on 03 Aug 2019 | 1 Answer

Karishma Pandit | Legistify

Karishma Pandit
Answered on 24 Sep 2019

Common shareholders are granted six rights: voting power, ownership, the right to transfer ownership, dividends, the right to inspect corporate documents, and the right to sue for wrongful acts. So you can take legal action against the investor in the company who is threatening you with the help of a corporate lawyer in India.Read More

Posted on 26 Aug 2019 | 2 Answers

Tanya Mahajan | Legistify

Tanya Mahajan
Answered on 16 Aug 2019

Following compliances are required after incorporation of a new business: Auditor Appointment Balance Sheet and P&L & Audit Report AOC 04 Form'ROC Fling Minutes of Board Meeting Minutes of AGM Income tax Returns Share Certificate (for 2 Directors) Disclosure of Interest Certificate of Commencement of Business(INC 20 A). All these are mandatory ROC Compliance filings of a company.Read More

Posted on 11 Aug 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 11 Feb 2019

A Private Limited Company is a type of business structure registered to give a separate legal existence to the business apart from its directors and shareholders. This means that a company continues to exist even after the death of any member. A private company in Delhi can consist of a maximum of 200 members at a time. In a Private Limited Company, the shareholders are considered to be the owners of the company and the directors are responsible for the everyday operations of the business. This ensures that the personal assets of the shareholders and directors are separate from that of the company. Private Limited Company registration in Delhi is regulated by the Companies Act, 2013 and the Ministry of Corporate Affairs acts as the regulatory body for registration. To register a Private Limited Company in India, there must be at least 2 directors and 2 shareholders. The most important feature of a Private Limited Company is that it is the most favoured form of business structure by investors as it limits the liability of the investors only to the investment they have made in the company. Documents for Private Limited Company registration PAN card- All Directors ID Proof (Aadhar card/DL/Voter ID) of all Directors Permanent address Proof (Bank Passbook-front page/Latest utility bill)- All Directors Address Proof of proposed Registered Office of company If taken on rent then NOC with the utility bill from the owner If not taken on rent or owned by any other entity then NOC signed by an owner If owned by Director then sale deed with an electricity bill Passport size photograph of all directors Main objects of the proposed company in detail Four names of the proposed company as per preference Significance of names of the proposed company Shareholding proportion Signed forms (Format provided) Process to incorporate a Private Limited Company The process of Private Limited Company registration involves obtaining the Digital Signature Certificate (DSC) & Director Identification Number (DIN), obtaining approval for name, creating and filing of documents with RoC and filing of an application for PAN & TAN. It takes around 15-20 days to complete all the legal formalities to register a Private Limited Company in India. This time period is subject to the time taken by government authorities to process the application. READ: Business Registration FAQs | Incorporation In IndiaRead More

Posted on 11 Feb 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 24 Nov 2018

The amount deducted by an employer on the salary is Tax Deducted at Source. The employer files a TDS return every quarter and the deduction is visible in your account on the IT department. You can access the information regarding the deduction from your salary in your account.Read More

Posted on 24 Nov 2018 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

In absence of any details as to what is being imported it is not possible to give any clarification. As regards importability/Anti dumping duty please make a reference to DGFT/Ministry of Commerce Read More

Posted on 10 Mar 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

You are advised to approach the Custom House/Port/ICD from where the goods are proposed to be imported or exported. You may also like to register yourself with the nearest office of the DGFT (Directorate General of Foreign Trade) in the Ministry of Commerce. For further details you may see the Customs and DGFT websites regards Read More

Posted on 10 Mar 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Selling study content material is taxable in India But for rate it depends on the how this content is sold to customer  As a product As a service If a company would prefer to sell this content as a service like SimplyLearn where they charge for the Service Tax as per applicable rate, currently this rate is 14% If company is selling this content in form of CD/DVD where it comes under product category in that case VAT of 5 % is applicable Read More

Posted on 06 Apr 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

The maximum deduction of interest on the housing loan as we know very well will be Rs. 1,50,000 which will be allowed as a deduction in the name of the HUF.  It is even possible that one single house property may be purchased jointly in the name of the HUF and any member of the HUF in which situation also the HUF will be entitled to deduction on account of interest on housing loan up to Rs. 1,50,000 per annum. Read More

Posted on 09 May 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

After the corporate income tax is paid on the business income, any distributions made to stockholders are taxed again at the stockholders' tax rates as dividends. Income paid to shareholders as wages are also taxed on the shareholder's personal income tax return. Read More

Posted on 01 Jun 2016 | 1 Answer