To reduce the tax burden and to provide relief from tedious work of maintaining books of Accounts to small tax assessees, the government of India has incorporated a scheme of presumptive taxation. There are three section as under: Section 44AD: for trading, civil construction or any other business Section 44AE: for taxpayers engaged in business […]

Startup India Scheme is an initiative of the Indian government, the primary objective of which is the promotion of startups, wealth creation, and employment generation. Registration process Business Incorporation You must first incorporate your business as a Private Limited Company (Most preferred) or a Partnership Firm (Registered) or a Limited Liability Partnership (LLP) or One Person Company.  This is a […]

What are Micro, Small and Medium Enterprise (MSME)? They are defined in term of investment in Plant and Machinery/ Equipment  as below:   MICRO SMALL MEDIUM Manufacturing Enterprises Less Rs 25 lacs  Less than Rs. 5 Crore  Less than Rs 10 Crores Service Enterprises Less than Rs 10 lacs  Less than Rs 2 Crores Less […]