Private Limited company & LLP A company is liable to pay tax on the income of the corporate. The rate of Income tax that is levied on a limited liability company is 30%. It is, however, is subjected to dividend distribution tax when it is required to pay the dividend. Under the Income Tax Act, [...]

As per the Accounting Standard 18 which deals with – ‘ Related Party Disclosures ‘ issued by the ICAI , Related Party means the “ Parties that are considered to be related if at any time during the reporting period one party has the ability to control the other party or to exercise significant influence [...]

Sections 9  & 10 of the Indian Partnership Act of 1932, lays down the basic duties which every partner has to and the said duties are not subject to any contract to the contrary. Therefore, the partners are bound to carry on the business of the firm to the greatest common advantage, in order to [...]

India is among the fastest-growing economies in the world with an immense human potential and a large market comprising of over 1.2 billion people. Opportunities in India has however attracted a large amount of Foreign Direct Investment into the country and each year the amount of FDI inflow keeps on increasing due to more number [...]

The Partnerships that are registered under the Partnership Act, 1932 used to be a very popular form of Business Entity in India due to the simplicity of registration and the ease of maintenance. But With the introduction of the Limited Liability Partnership (LLP) in India through the Limited Liability Partnership Act, 2008, the prominence of such kinds [...]