In a significant move aimed at promoting ease of doing business and addressing the challenges faced by Limited Liability Partnerships (LLPs), the Ministry of Corporate Affairs (MCA) has introduced the LLP Amnesty Scheme through General…
Introduction: The Income Tax Act 1961 provides various deductions and exemptions that can help individuals minimize their tax liabilities and maximize their savings. Understanding and leveraging these deductions is essential for every taxpayer. In this…
Introduction: Filing income tax returns is an essential responsibility for every taxpayer. It ensures compliance with the law and helps individuals report their income accurately. When it comes to the filing process, one crucial document…
Introduction: XBRL stands for Extensible Business Reporting Language, is a language for electronic communication of business and financial data which has significantly revolutionized the reporting of business information, around the globe. Major benefits include preparation,…
Introduction: In 2008, India adopted the concept of Limited Liability Partnerships (LLP). An LLP combines the qualities of a partnership and a corporation. An LLP is governed by the Limited Liability Partnership Act, 2008. For…
Ministry of Corporate Affairs (MCA) has issued General Circulars on May 03, 2021 to provide relaxation due to resurgence of COVID-19 pandemic, under Companies Act, 2013 and LLP Act, 2008.