Niraj Sharma & Co.

13/12/2023

Glimps of Outreach program organized by Income Tax Department Sikar

02/02/2021

Budget-21 At a Glance NSCo

28/06/2018

Important guidelines for DSC tokens by Cca
Applicable from 1st July 2018.

No need to get worried. Existing tokens will keep on working as usual without any change till their current validity.

Important - Cca guideline regarding token As per new CCA Guidelines issued for Tokens and other PKI Device will be coming in effect from 01st July, 2018 the CSP version (Cryptographic Service Provider Version) which you select while downloading DSC will be changed. Due to this change DSCs can’t be...

26/06/2018

The income-tax (I-T) department has attached over 1,500 unaccounted properties worth Rs 43 billion across the country within one and a half years of the introduction of the revised benami legislation.

Jaipur and Mumbai top the list, with attachments of 200 properties each.

In Rajasthan, a jeweller was found to be the beneficial owner of nine immovable properties in the name of his former employee, a man of no means. Certain properties purchased through shell companies have also been attached.

Currently, benami cases are being adjudicated by an authority set up under the Prevention of Money Laundering Act (PMLA). An order needs to be passed within one year of attachment of property, else it lapses.

14/03/2018

Entrepreneurs may face trouble in choosing the legal form of their business organisation. Following are the major and most crucial aspects which form part of the advantages of choosing a private limited entity over a LLP.

1. Incorporation – Ease and affordability

With the recent introduction of ‘Zero fees’ concept, there is rarely a difference when it comes to Incorporation procedure and costing aspect in case of Private Limited Entity and LLP. Further the Ease of doing business is an add-on benefit in case of a Private Limited Entity.

2. Ease of Procurement of Funds.

Due to the reason of high level of transparency and governance in existence, it is quite a easy process to raise funds

3. Business Expansion and Diversification.

The Business expansion and diversification model is easily executable with a Private limited Entity whereas in case of an LLP the same is quite limited, the reason being, the shortcomings of the LLP agreement in ex*****on and its modification.

3. Credit ability and Recognition

When it comes to Credit worthiness or Recognition, Private Limited Entity is way ahead of LLP.

4. Compliance and governance

As compared to an LLP, a Private Limited entity in having a standard set of norms applicable which is not the same in case of an LLP.

05/03/2018

Section 269ST-Penalty on cash receipt of more than 2 Lakhs

It is the receivers of cash being the one getting affected not the person who gives it. It is in effect from 1st April, 2017.

Section 269ST states that “no person shall receive an amount of Two lakh rupees or more,—

-in aggregate from a person in a day;
-in respect of a single transaction; or
-in respect of transactions relating to one event or occasion from a person
otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account.

The penalty imposed on breaking the law, is the 100% of the amount . This means that if you don’t follow the rule mentioned in Section269ST and get caught into the scrutiny of the tax department then penalty on the transaction will be equal to it.
Niraj Sharma & Co.

03/03/2018

Celebrating festival with happiness of colors.