All posts by: Arti Agarwal

by in Blog

MPBF- Maximum Permissible Banking Finance

Definition: Maximum Permissible Banking Finance(MPBF) MPBF stands for Maximum Permissible Banking Finance in Indian Banking Sector. MPBF is mainly a method of working capital assessment. As per the recommendations of Tandon Committee, the corporate are discouraged from accumulating too much of stocks of current assets and are recommended to move towards very lean inventories and […]

by in Society

Society Registration: How to register?

  A minimum of 7 members are required to register a Society. A society shall be registered with the Registrar office under Societies Registration act 1860 (A separate Registrar of Societies will be in your area). Only for Maharashtra state, it’s different and it shall be registered with Charity commissioner. A society is an association […]

by in Company Incorporation

How to Incorporate a Nidhi Company

Section 406 of Companies Act 2013 and Companies (Nidhi Companies) Rules, 2014 govern Nidhi companies. A Nidhi company has been incorporated with the following objectives: 1. Imbibing the habit of thrift and savings amongst its members. 2. Receiving and lending deposits from/to its members for their mutual benefit, which complies with rules of Chapter XXVI of […]

by in GST Update

GST Non-Compliance: An offence that can attract Penalties & Imprisonment

The GST law is out with some clear instructions which must be adhered to. Any violation could lead to adverse consequences and heavy penalty. It’s specifically important for Taxation Professionals, CAs and business owners. To keep tax evasion and corruption at bay, GST has come up with some stringent action against offenders who are subject […]

by in Income Tax

All about Notice u/s 143 and how to give reply?

Many taxpayers have received notice under section 143(1)(a) after filing their Income-tax returns for AY 2017-18. Now, it is important to understand that notice under section 143(1)  and 143(1)(a) are two different notices and the way of dealing them is also different. So, one should not get confused between the two. What is notice under […]