CA. Kavit Vijay

CA. Kavit Vijay

Verification of Pending ITRs AY 2015-16 to 2019-20
ITR
CA. Kavit Vijay

Verification of Pending ITRs AY 2015-16 to 2019-20

CBDT announced a one-time relaxation for the taxpayers for the verification of pending Income tax-returns for AY 2015-16 onwards. This relaxation is given for ITRs which are pending for processing and further action due to non-verification of the same by the taxpayer.

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Tax on Dividends
Dividend income
CA. Kavit Vijay

Income Tax on Dividends Income

Prior to the Finance Act, 2020, companies and mutual funds were liable to pay “Dividend Distribution Tax” on dividends declared or distributed. Therefore, Dividend income was exempted in the hands of shareholders. However, Finance Act, 2020 deleted the concept of Dividend Distribution tax and Tax on dividends income will be in the hands of shareholders for all the dividends paid or distributed by a Company on or after 1st April 2020. At par with other provisions of the Income tax Act, Finance Act, 2020 imposed liability to deduct TDS on dividend Income distributed/paid to shareholders. Hence, the Company will have

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All about Dividend Income and Dividend Distribution Tax i.e DDT
Income Tax
CA. Kavit Vijay

All about Dividend Income and Dividend Distribution Tax i.e DDT

Finance Act, 2020 has proposed to eradicate the provisions of DDT for dividend provided on or after 01.04.2020 and therefore, dividend income and income from units will be taxable in hands of recipients.
Domestic Companies and Specified Companies and Mutual Funds will not be liable to pay any DDT from 1st April 2020 onwards.

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Legal Documents
Company Registration
CA. Kavit Vijay

9 Crucial Legal Documents Needed for your Business

Every business requires calculated risk-taking abilities to succeed in today’s highly competitive market. That’s why gen-y entrepreneurs love to showcase their talent and risk-taking ability in front of the world. However, ending up in the legal battleground in the process due to missing legal documents would be a big blow to a business.  Legal documents play an important role in safeguarding your business from misunderstandings and legal conflicts. Also, they help to ensure accountability and transparency whenever a dispute arises in the business space. Still, several business founders commit the common mistake of ignoring legal formalities during the early growth

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Why Should You Register a Limited Liability Partnership?
Blog
CA. Kavit Vijay

Why Should You Register a Limited Liability Partnership?

If you have to ask experts: Why are LLPs becoming the choice of business operations for startup enthusiasts? The answer will include various reasons such as low formation cost, lesser compliance and restrictions, and, most importantly, greater flexible options that only a Limited Liability Partnership offers.  1. What is a Limited Liability Partnership? Partnership firm is a simplified form of business and it is least organised as it is governed by terms and conditions mutually agreed in partnership deed. However, Limited or Private Limited Company are related complicated as it is governed by provisions of Companies Act, 2013 and also

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factors to consider while starting a new business
Blog
CA. Kavit Vijay

8 Key Factors to Consider While Starting a New Business

Are you preparing to start a new business by yourself? Getting frequently baffled on what to do and what not to do? Well, here are 8 important points you need to keep in your mind while launching any new business.  For any new business, cutting the risks while maintaining steady cash flow is very much essential to have a long run in the future. You’ll face many obstacles in the path but minimizing their effect is the all-important task you have to perform. Take note from us to prepare yourself for your journey as an entrepreneur.  1. A Ground-breaking Idea

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how to choose the right name for your company?
Blog
CA. Kavit Vijay

How to choose the right name for your Private Limited Company?

Choose the right name for your Private Limited Company is not an easy task. Selecting an appropriate and insightful name plays a huge role in future prosperity for any new business or startup. The name of a company creates the first impression on potential customers. Therefore, choosing a well-suited name becomes extremely vital, which has to be done with all efforts. Naming a company doesn’t just involve the technical aspect but also has certain legalities involved.  Ignoring the Companies Act 2013 rules while choosing the company name may attract unwanted litigation. That’s why we’re here to help you choose the

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How to Determine The Taxability of NRI in India
FEMA
CA. Kavit Vijay

How to Determine Taxability of Foreign Resident in India?

According to the provisions of Income Tax Act, 1961; all the foreigners or individuals who belong to a different country but staying and working in India or individuals who belong to India but working in any other part of the world, have to pay income tax, as the Income Tax Act, 1961 provides for taxability depending upon the residential status of a person. Here in this article, we are going to discuss all the details related to tax by foreigners and NRIs. This tax is levied regardless of the individual’s status of citizenship, or intention of staying in India. However,

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