Kandarp Vanita

A documentation of tax return filed with the tax authority is income tax return. The documentation that is filed has the reports of the taxpayer’s income, the expenses and other pertinent financial information. The Income Tax Act, 1961, makes it mandatory for an Indian citizen to file returns at the end of every financial year. There are various kinds of forms for […]

The Reserve Bank of India (RBI) by press release dated 30th July, 2019 has revised the outline for External Commercial Borrowings on the basis of the feedback from the stakeholders and also in consultation with the Government of India. The RBI has decided to relax the end-use limitations with a purpose to ease the norms for […]

The Food Safety and Standards Authority of India (FSSAI) under the Ministry of Health and Family Welfare have launched the Food Safety Mitra scheme on 16th October 2019. Food Safety Mitra is an individual professional who is certified by FSSAI to undergo training and to perform such activities on behalf of food business operators with […]

Under the Ministry of Health & Family Welfare, Government of India we have Food Safety and Standards Authority of India (FSSAI) which is an established autonomous body working for monitoring the food safety and quality regulations in India. FSSAI was formed under the Food Safety and Standards Act, 2006 with the responsibility to promote and […]

In recent years, there is an emerging trend for conversion of partnership firm to Limited Liability Partnership (LLP). The conversion of partnership firm into a Limited Liability Partnership is done in accordance with the provisions of Section 55 of the LLP Act, 2008 which is read with 2nd Schedule. The LLP’s was introduced through the Limited […]

These local mithai and sweet shop owners openly display their sweets and claim them to be freshly prepared. The local mithai and sweet shop owners do not display any manufacturing, expiry date or best before date on their unpackaged sweet products and that serving can really affect the negligent customers consuming that sweet. FSSAI stands for […]

The sole proprietorship is the business form which is owned, managed and controlled by a single owner. The sole proprietorship is not a legal entity like a corporation and partnership. It simply refers to a single person who owns the business and his identity coincides to that with the business entity. Because of this fact […]

Section 122 of the Transfer of Property Act provides with a definition of gift as a transfer of existing movable and immovable property which is made voluntarily and without any consideration. Hence, gift deed is a legal document that contains the voluntary transfer of gift from the donor (property owner) to donee (gift receiver) without […]

The import of all the food products in India is managed and controlled by the regulatory body i.e. the Food Safety and Standards Authority of India (FSSAI). The FSSAI has circulated various controlling measures and warnings, which are to be taken into contemplation while the food items are imported in India. If by any chance […]

Filing Income Tax Return is one of the most important duties as a citizen of India. Income Tax Return contains information about the person’s income, expenses and the taxes to be paid during the financial year. The due date for filing the income tax returns for individual taxpayers is 31st July of the assessment year. […]

NGO is a Non-Governmental Organization and may be defined as an association serving social justice and having a definite culture, social program, education, etc, registered with the Central Government. NGO is a non profit social and voluntary organisation of community of persons, volunteers and citizens. Although, NGO is registered at the Government’s registering authorities but […]

On 15th June, 2020 Airtel Payments bank launched “Suraksha Salary Account” while India begins to open up following the COVID-19 lockdown. Airtel Payments Bank announced Suraksha Salary Account keeping in view to make an innovative salary account for the Micro, Small and Medium Enterprises (MSME). MSME was introduced by Government of India by an agreement […]

The partnership in India is governed under the Indian Partnership Act, 1932. A relation between two or more person as a partner who has agreed to share the profits of a business run by them or by one or more persons acting for all of them. Hence, any individual who is competent under the Contract […]

Nidhi Company is a kind of Non-Banking Financial Company (NBFC). In literal words it means ‘finance’, ‘fund’ and ‘treasure’. The purpose behind the formation of Nidhi Company is to receive and lend money amongst its members. It develops the habit of saving and reserving funds amongst members and works on the standard of mutual benefit. Nidhi Companies […]