Introduction House Rent Allowance (HRA) is an important component of the salary package for many employees in India. It is a form of tax-free allowance provided by the employer to the employee to cover their rent expenses. While HRA is a taxable allowance, it can be claimed as an exemption under certain conditions. In this … Read More “How much HRA can be claimed without proof?” »
When running a Limited Liability Partnership (LLP), the LLP agreement plays a vital role in outlining the rights and obligations of its members. Over time, as the needs of the LLP change, it may become necessary to amend the LLP agreement to reflect these changes. In this article, we will discuss the essential checklist for … Read More “The Essential Checklist for Amending Your LLP Agreement” »
Introduction: The Provident Fund (PF) is a retirement benefit scheme established by the Government of India. The scheme is designed to provide financial security to employees after they retire. But who is eligible for PF? In this article, we will explore the PF eligibility criteria, so that you can determine if you are eligible to … Read More “Understanding the Provident Fund Eligibility Criteria” »
If you’re looking for a reliable way to save money, Recurring Deposits (RDs) might be just what you need. RDs are a type of savings account that allow you to deposit a fixed amount of money every month for a set period of time. These deposits earn interest, and at the end of the term, … Read More “Understanding Recurring Deposits and RD Calculators: A Beginner’s Guide to Saving Money” »
Compounding interest is a powerful concept that can help you grow your wealth over time. When you earn interest on your initial investment and on the interest you’ve earned, your returns can grow exponentially. This is why starting early with RBI compounding can have significant benefits for your financial future. What is RBI compounding? RBI … Read More “The Benefits of Starting Early with RBI Compounding” »
One Person Company or OPC is a relatively new concept in India that was introduced through the Companies Act, 2013. As the name suggests, an OPC is a type of company that can be formed with just one person as its shareholder and director. This form of business has gained immense popularity in India in … Read More “Why Do People Opt for One Person Company in India” »
This article explains how an MOU works, how it differs from an agreement, and what to think about before signing one. What is a MOU? An MOU is fundamentally a pre-contractual document that outlines an “in principle” understanding between future contracting parties in anticipation of an agreement. In particular, an MOU is used when parties … Read More “Memorandum of Agreement: What do you think?” »
A compounding application format is a document used by taxpayers to apply for compounding of an offence committed under the Central Goods and Services Tax Act. Compounding of an offence means that the taxpayer requests to pay a specified amount of money in lieu of prosecution for the offence committed. This application is submitted to … Read More “Compounding Application Format: How to Apply for Compounding of GST Offences” »
Consultancy agreements are legally binding documents that establish a relationship between a company and a consultant. They serve to define the consultancy’s terms, including the scope of work, payment terms, confidentiality clauses, and other relevant details. This article will delve into the key components that one should know about consultancy agreements. Scope of Work The … Read More “Consultancy Agreements: The Key Elements You Need to Know” »
Small business owners face many challenges when it comes to managing their finances. Accounting and bookkeeping are critical aspects of running a successful business, but they can be time-consuming and overwhelming. This is where accounting and bookkeeping services come in. In this article, we will discuss how an accounting and bookkeeping service can help small … Read More “How can an Accounting and Bookkeeping Service Help For Small Business” »
