Category: Blog
AGM Extension: How to Apply and Avoid Penalties
Is your company running behind in finalizing its financial statements or unable to conduct the Annual General Meeting (AGM) on time? Under Section 96 of the Companies Act, 2013, companies are required to hold their AGM within six months from the end of the financial year. However, if valid reasons prevent you from doing so, […]
Read more
How to Create a GST Invoice: A Guide for Businesses
If your business is registered under GST compliance, creating a GST-compliant invoice is essential for businesses to ensure proper tax reporting and compliance with GST laws. A well-structured invoice facilitates smooth transactions and helps to maintainin accurate records for audits and claims. If your business is GST-registered and has a valid GSTIN, you must issue […]
Read more
Demat of Shares: A Crucial Update for Private and Public Companies
If your company falls under the category of Private, Listed, Unlisted, Holding, Subsidiary, or Section 8 Company, it’s essential to be aware of the latest provisions related to the dematerialization (Demat) of shares. Understanding these changes is crucial for compliance and avoiding penalties. What is Demat? Dematerialization, commonly referred to as Demat, is the process […]
Read more
Understand GST for Goods Transport Agency (GTA)
The Goods Transport Agency (GTA) plays a crucial role in the logistics sector by arranging the transportation of goods from one place to another. They issue consignment notes, a document that acts as proof of goods transportation and signifies the agency’s involvement. For businesses relying on these services, understanding the GST implications is essential for […]
Read more
Essential Guide to Filing FLA Return for FY 2023-2024
The Reserve Bank of India (RBI) has extended the deadline for filing the Foreign Liabilities and Assets (FLA) Return for the financial year 2023-2024 to July 31, 2024. This extension offers a crucial reprieve for entities dealing with foreign investments, ensuring they have adequate time to comply with regulatory requirements. As a top NRI tax […]
Read more
5 Benefits of Filing Your ITR Before the Deadline
Filing your Income Tax Return (ITR) well before the 31st of July, 2024 is not just a legal obligation but also a strategic move that offers numerous benefits. Early filing can help you secure faster refunds, avoid penalties, and maintain better financial planning Faster Refunds One of the most compelling reasons to file your ITR […]
Read more
Know When You Can Claim ITC On a New Business Vehicle
If you are considering to purchase of a vehicle for your business, understand when ITC is allowed or blocked to make an informed decision. In this blog, we’ll explore the nuances of ITC eligibility for motor vehicle purchases, focusing on seating capacity and the purpose of purchase. What is Input Tax (ITC) Input Tax Credit […]
Read more
Turning Rent into Revenue: Smart Tax Strategies for Real Estate Investors
The real estate market has notably surged in the last couple of years, especially the affordable segments of it capturing the interest of various investors, including NRIs and HNIs. Today, as it becomes common to own multiple properties, a pertinent question arises: how is the income from these properties taxed? Is it taken as business […]
Read more
Consult for Hassle-Free NRI Income Tax Returning Solutions
Non-resident Indians (NRIs) often find themselves juggling complex tax obligations across multiple jurisdictions. Managing these tax compliance can be challenging without expert guidance. As Laabdhi, your trusted NRI tax consultants, we are here to simplify these complexities and ensure you remain compliant with all relevant tax laws. Key Tax Provisions You Should Know Section 5(2) […]
Read more
Why GST Registration is Essential for Your Business Growth
Understanding tax compliance, regulation or legalities can be daunting, but GST stands out as a significant reform to simplify and unify the indirect tax regime. However, despite its straightforward benefits, many businesses tend to overlook or delay their GST registration, often underestimating its importance. This casual approach can lead to significant problems down the line. […]
Read more