There is no need to maintain detailed books of accounts or to spend unnecessary time on separating the personal expenses from the business expenses. The special scheme which report your income is known as ‘Estimated Income Scheme for Small Professionals (Sec 44ADA)’. The word presumptive means that the income of the person is deemed and … Read more
A private company is most common line of doing business which aims to earn profit and also to enjoy the benefits of incorporated entities. It is a successful business model. Owners hold all shares of the company. It also results helps to protect the personal assets. The following advantages may force an individual to form … Read more
Whenever a person has a business idea, he also has to think of its cost to set up it. Generally, people think of setting up a company as it has some advantages. The cost of setting up a company is to be analyzed before setting up it. The cost of setting up a business depends … Read more
In this previous article, you get the complete information about how to form private limited company. But after completion of all steps described in the previous article, the following documents are required to filed with the registrar of companies of the state in which the company is proposed to incorporated. Form INC-7: Application for the … Read more
The private company is a proven, successful business model. It is most common vehicle to carry on business for making profits and also the benefits of an incorporated entity. Most of us finds very difficult to form a private limited company. Here we summarises the entire practical procedure of formation of company step by step. … Read more
Business finance is a term that consist of wide range of activities and works which revolve around proper utilization of money and other various valuable assets. It also refers money and credit which is employed in the business for earning profit to run a business in a better way, there are many basic requirements of … Read more
Taxation scheme is used by the government to encourage or discourage certain economic decisions. Here are few examples like reduction in taxable personal income by the amount paid as interest on home loans results in greater construction activity thus developing the infrastructure of the economy and generating more job opportunities which leads to the overall … Read more
The government of India has tried to lower the burden on small businesses as well as the professionals. The incentive of presumptive income has also been provided to the professionals under the act. Let’s have a look on the presumptive income scheme as provided to the professionals in this article. As per section 44ADA, if … Read more
There are a lot of tax compliances which are to be done by every business. The businesses which are having high turnover have to do all these compliances but the small business can opt for the presumptive schemes. In this article, we will discuss about one of the presumptive scheme i.e. Sales for businesses with … Read more