Introduction Every business needs to have clear objectives in order to succeed. Objectives help to set priorities, focus efforts, and measure progress toward achieving goals. However, it can be difficult to determine which objectives are the most important for a business to achieve. In this blog, we will discuss the 10 most important business objectives that every business should aim to achieve. Increase Revenue: Increasing revenue is one of the most important objectives for any business. Revenue is the lifeblood of a business, and without it, the business cannot survive. Increasing revenue can be achieved through various strategies such as […]
What is PPF and its features?
What is PPF and its features? PPF is a long-term investment scheme that is backed by the Government of India. It is one of the most popular investment options in India due to its attractive interest rates, tax benefits, and guaranteed returns. Some of the features of PPF are: A minimum investment of Rs. 500 per year and a maximum of Rs. 1.5 lakh per year. The investment period is 15 years, which can be extended in blocks of 5 years. The interest earned on PPF is compounded annually and is tax-free. PPF offers loan and premature withdrawal facilities. PPF […]
Legal heir certificate- Validity & transfer property
A legal heir certificate is a document that establishes the relationship of an individual with a deceased person and confirms the individual’s legal status as an heir or successor. The certificate is issued by a government authority or a court of law and is required in several situations, such as claiming inheritance, settling debts and liabilities, and obtaining government benefits. The legal heir certificate typically contains the following information: Name and details of the deceased person Name and details of the legal heirs Relationship between the legal heirs and the deceased person The purpose for which the certificate is required […]
What is Revocation of GST Cancellation?
The Goods and Services Tax (GST) is a tax levied on the supply of goods and services in India. GST registration is mandatory for businesses whose turnover exceeds a certain limit. GST registration comes with its own set of benefits, such as input tax credit and the ability to collect GST from customers. However, there might be situations where a business entity might want to cancel its GST registration. In such cases, the process of GST cancellation comes into play. What is Revocation of GST Cancellation? Revocation of GST cancellation is the process of reviving a cancelled GST registration. GST […]
Impact of Changes in LLP Agreement
Limited Liability Partnership (LLP) Agreement is a legal document that outlines the structure and management of an LLP. It serves as the foundation for the relationship between the partners in an LLP. The LLP agreement typically covers various aspects of the partnership, including the rights and obligations of the partners, profit-sharing, dispute-resolution mechanisms, and the procedures for adding or removing partners. An LLP Agreement is a vital document that outlines the governance structure of the LLP. It is important to ensure that the LLP Agreement is updated regularly to reflect the current business requirements and changes in the law. In […]
Revocation of Cancellation of GST Registration: Understanding the Process
As a business owner, you know the importance of complying with various regulations and rules. One such rule is the Goods and Services Tax (GST) registration, which is mandatory for businesses with an annual turnover of over Rs. 40 lakh. GST registration helps businesses to streamline their tax compliance and provide benefits such as input tax credit. However, in certain circumstances, the GST registration can be cancelled by the authorities. In this article, we will discuss the revocation of cancellation of GST registration, its process, and the important things to keep in mind. What is the Revocation of Cancellation of […]
What is the difference between assessment year and previous year in income tax?
Introduction : Income tax is a significant aspect of personal and business finances, and understanding its terminology is crucial. Two important terms in income tax are “assessment year” and “previous year.” In this blog post, we will explain the difference between assessment year and previous year, and their significance in income tax calculations. Previous Year : The previous year refers to the financial year in which income is earned or received. It is the year that comes right before the assessment year. For example, if you are calculating income tax for the year 2023-2024, the previous year would be 2022-2023. […]
what the tips and tracks to select the consumer court lawyers online?
Introduction : Consumer court cases can be complex and demanding, requiring the expertise of experienced consumer court lawyers. With the advent of technology, it has become easier to find and hire lawyers online. However, choosing the right lawyer for your case can be a daunting task. In this blog post, we will provide you with essential tips and tricks to help you select the best consumer court lawyer online. Research and Background Check : Start by conducting thorough research on consumer court lawyers available online. Look for reputable legal platforms, law firm websites, and directories that provide information about […]
Explain the Liability of designated partner in LLP?
Introduction : A well-liked company form that combines the advantages of a partnership and limited liability is an LLP. . In an LLP, designated partners play a significant role in the management and operations of the business. It is important to understand the liability of designated partners and the extent of their responsibilities. In this blog post, we will delve into the liability aspects of designated partners in an LLP. Limited Liability Protection : One of the key advantages of an LLP is that it offers limited liability protection to its partners, including designated partners. This means that the personal […]
What are the rules of caveat petition?
Introduction : In legal matters, a caveat petition serves as a preemptive measure to protect your interests and ensure that you are given a fair opportunity to present your case. In this blog post, we will explore the rules governing caveat petitions, empowering you with the knowledge to effectively use this legal tool when necessary. What is a Caveat Petition? : A caveat petition is a legal instrument that allows an individual or entity to request the court to be notified before any order or judgment is passed in a specific matter. By filing a caveat petition, you essentially […]