Tax authorities can reassess a person or a company in case they have reason to believe that there is unreported income. If new information reveals that income has eluded taxation, tax officers are empowered to serve a notice of reassessment under Section 148 of the Income Tax Act. The function of an income tax reassessment 148…
Changes within the Indian business advisory services sector occur due to fast technological enhancements, changing market conditions, and new regulations. Building expert advisory services remains integral to organizations trying to handle complex business issues and increase operational efficiency. This blog explores primary business advisory service industry developments in India alongside the emerging market possibilities in…
Today’s fast-paced global economy makes supply chain efficiency crucial. Barcode numbering is an extremely important factor in ensuring seamless operations within industries. Barcode numbering assists companies in tracing products, inventory management, and logistics efficiency. The GS1 Barcode Numbering system is the global standard, guaranteeing precision and reliability in supply chain management. In a nutshell- GS1…
Establishing a business independently as an entrepreneur brings both excitement and difficulties on the path. A one-person company (OPC) framework under the Companies Act 2013 helps small businesses and individual operating entities. The framework of a one-person company enables sole owners to acquire private limited company benefits together with self-operational control. This piece details both…
Business establishment in India undergoes a lot of legal procedures, the most significant among them being company registration in India. The Registrar of Companies (ROC) is a key player in this process, making sure that companies function according to the legal framework established by the Ministry of Corporate Affairs (MCA). Knowledge of the ROC’s functions…
The current competitive business environment with continuous market changes forces companies to rely on expert guidance for strategic decisions, operational optimization and long-term business expansion. The Indian economic landscape now requires advisory services that function as essential support structures for multiple business sectors. Organizations require different types of advisory support from this sector, which includes…
Small businesses today are preparing for new challenges and opportunities. Finding ways to optimize resources and streamline processes is crucial for sustained growth in the dynamic landscape of small business operations. The overlooked yet important aspect is outsourcing the accounting function. Small businesses are sometimes compressed with time, budget, and other resources. According to research,…
Starting a business as a one-person company (OPC) in India is picking up pace among young entrepreneurs who want to go solo. Among the many benefits, what stands out is limited liability while allowing full control over business decisions. It is also to be understood that OPC regulations are to comply with and failure to do…
Forensic accounting and fraud detection is perhaps the only potent way in which financial fraud can be identified and busted to ensure transparency in financial transactions. Businesses and even one-person companies are no stranger to various types of financial fraud, which can lead to significant losses if not detected early. An effective way to deal…
From a legal perspective, when individuals and businesses get a lawsuit settlement, it is important to know the tax regulations. Of all the basic types of settlements, product liability settlements are likely to have special tax features. The taxes applicable on the lawsuit settlement can change the amount received considerably, therefore it’s important to understand…
