Key changes which will come into force from 1 April 2026 in Income Tax
With effect from 1 April 2026, the Income Tax Act, 2025 (“ITA 2025”) will come into force, replacing the Income-tax Act, 1961 (“ITA 1961”). The new legislation introduces structural, conceptual and procedural changes across the direct tax framework.
Legal Entity Identifier (LEI) Explained Meaning, Importance, and Compliance Guide
A Legal Entity Identifier (LEI) is a unique 20-character alphanumeric code used to identify legally distinct entities participating in financial transactions. It acts as a global identification number for businesses, allowing regulators and counterparties to clearly determine the parties involved in a transaction.
How to Appoint a Director in a Company? Step-by-Step Legal Guide
Directors play a crucial role in shaping a company's strategy, governance, and compliance framework. Whether a business is expanding, bringing in specialized expertise, or fulfilling statutory requirements, appointing a director is an important corporate action. However, the process must strictly comply with the provisions of the Companies Act, 2013.
ISO Certification Explained: Meaning, Types, Benefits, and Process
In simple terms, ISO certification indicates that a company follows standardized procedures and best practices that align with international benchmarks.
Importance of Legal Compliance for Businesses: Building Trust, Stability, and Sustainable Growth
Legal compliance refers to a company's commitment to following all laws, regulations, industry standards, and ethical practices that govern its operations.
Legal Due Diligence Checklist: A Practical Guide for Confident Business Decisions
Legal due diligence is the process of systematically reviewing a company's legal status and obligations to identify risks, liabilities, and compliance gaps before completing a transaction.
GST Composition Scheme Explained A Simple Guide for Small Businesses
Managing GST compliance can often be challenging for small businesses. Regular return filing, maintaining detailed records, and managing input tax credits can require significant time and resources. To make taxation easier for small taxpayers, the government introduced the GST Composition Scheme.
GST Input Tax Credit on Car Purchase for Company: Rules, Exceptions & Practical Scenarios
Input Tax Credit (ITC) allows a registered taxpayer to claim credit for the GST paid on purchases used for business purposes. This credit can then be adjusted against the GST payable on outward supplies.
GST on E-Commerce Operators: Complete Compliance Guide for Online Marketplaces
Under GST, electronic commerce refers to the supply of goods or services, including digital products, conducted through a digital or electronic network.
How Professional Services Help Startups Build Strong Foundations and Scale Faster
Many startups delay engaging professional services due to budget constraints or the assumption that internal teams can handle these responsibilities. However, mistakes made in the early stages can often become costly challenges later.