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As you are aware Government of India has demonetized Rs. 500 and Rs. 1000/- currency and placed several restrictions on cash transactions to deal with cash crunch problems as a result of it. The main restrictions are

Rupee

The Government of India, demonetized the Rs. 500/- and Rs. 1,000/- currency notes in India on Nov 08 2016. This phenomenon is not new to India. Demonetization in done in 1948 and next in 1978.

Indian Currency Demonetization

Tax Rates

1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person

Assessment Year 2016-17

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India is the new buzzword for starting up new business. It is an emerging market with vast opportunities for both Indian and foreign investors.

From time to time we often hear about PAN being mandatory for several transactions. The main aim of bringing these provisions are

PAN Card

 

Books of Accounts

Requirements as to Service Tax

1. What, Which, How should I keep my books of Accounts?

The single contributing factor for the success of modern day business is the double entry system. Prior to that the accounting systems that were followed were diverse and lacked proper system. The double entry system of accounting is in its present from more than 700 hundred years.

Books of Accounts

Requirements in Companies Act, 1956

1. Where should I keep my books of Accounts?
Ans. Every Company should keep its books of accounts at the Registered Office of the Company. [Sec. 209(1)]