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What is Public Limited Company?

Characteristics of Public Limited Company Directors As per the provisions of the Companies Act, 2013 to start a public limited company, a minimum of 3 directors are required and there is no restriction on the maximum number of directors. Limited Liability The liability of each shareholder is limited. In simple words, a shareholder of a…

What is a Private Limited Company?

Private Limited Company, The most popular legal structure for businesses, should be chosen by anyone looking to build a scalable business. Indian start-ups and growing companies pick it because it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to attract top talent.Private…

How to know the status of Income tax refund?

To view Refund/ Demand Status, please follow the below steps: Login to e-Filing website [ https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html​] with User ID, Password and Captcha. Go to My Account and click on”Refund/Demand Status”. Below details would be displayed. Assessment Year Status Reason (For Refund Failure if any) Mode of Payment is displayed. Taxpayer can now view Refund/ Demand Status. Or,…

Income Tax Audit

What is income tax audit?​​​The dictionary meaning of the term “audit” is check, review, inspection, etc. There are various types of audits prescribed under different laws like company law requires a company audit, cost accounting law requires a cost audit, etc. The Income-tax Law requires the taxpayer to get the audit of the accounts of…