Taxgyani

The MSME definition underwent significant revisions as part of the Atmanirbhar Bharat package announced on May 13, 2020. These changes aimed to include more units under the purview of MSME schemes and eliminate the distinction between the service and manufacturing sectors. The revised criteria for MSME classification are based on both investment and turnover: Micro Units: Investment up to Rs. 1 Crore and turnover up to Rs. 5 Crore. Small Units: Investment up to Rs. 10 Crore and turnover up to Rs. 50 Crore. Medium Enterprises: Investment up to Rs. 50 Crore and turnover up to Rs. 250 Crore.
Vi

A Section 8 company is one that aims to register as a limited company with the primary objectives as follows-Promotion of commerce, art, science, sports, education, research, social welfare, religion, environmental protection, or any other mission. Dedication of profits for the fulfillment of the above-mentioned objectives. Prohibition of dividend payments to its members.T hese organizations provide an efficient and structured approach to conduct charitable activities for non-profit entities. They are limited companies but not required to use the suffix 'Limited' and are governed by the regul

One person company, introduced by the Companies Act, 2013, represents a modernized approach to business, offering advantages beyond traditional sole proprietorships. An OPC may have just one shareholder/member but can appoint multiple directors. OPCs are well-suited for small businesses with limited turnover and nominal paid-up capital. However, it's important to note that if an OPC's paid-up capital exceeds ₹50 Lakhs or its average annual turnover over the past three consecutive years exceeds ₹2 Crores, it must convert into a private limited or public limited company within six months.
Visi

"Accounting is a fundamental process in finance that involves recording, analyzing, and summarizing financial transactions and information pertaining to an individual, business, or organization. It serves as the language of finance, providing a structured way to monitor and communicate financial data. Through accounting, one can track income, expenses, assets, liabilities, and equity, facilitating sound financial decision-making, regulatory compliance, and the assessment of financial performance. Whether for personal financial management or business operations, accounting plays a pivotal role

"GST (Goods and Services Tax) return is a document that a taxpayer is required to file with the tax authorities to report their sales, purchases, and the amount of GST collected and paid. It's a crucial component of the GST system, and regular filing ensures compliance with tax regulations.

In conclusion, timely and accurate GST filing is essential for maintaining compliance and avoiding penalties. At Tax Gyani, we simplify the process with expert guidance, ensuring your returns are filed correctly and on time. Let us handle the complexities so you can focus on growing your business with p