FINBOAT

PayPal.com is one of the world's most trusted and widely-used digital payment platforms. Founded in 1998, PayPal has grown to become a global leader in online payment solutions, enabling individuals and businesses to send and receive money securely, efficiently, and conveniently. With its robust features and seamless integration, PayPal has revolutionized the way financial transactions are conducted in the digital age. What Is PayPal? PayPal is an online financial service that allows users to make payments, transfer money, and manage their financial transactions without the need for traditional checks or money orders. The platform is accessible through its website, PayPal.com, as well as mobile apps, making it incredibly convenient for users across the globe. Key Features of PayPal Secure Transactions : PayPal employs advanced encryption technology to ensure the security of every transaction. This makes it a safe option for online shopping and money transfers. Wide Acceptance : Pay...

  COMPANY/LLP NAME Address ....... Declaration for Authorised Signatory I,  .....AAAAAA....... , being designated partner of  M/s.  ABC PVT , hereby solemnly affirm and declare that  .......BBBBBB..... , designated partner, to act as an authorised signatory for the business  M/s.ABC PVT   for which application for registration is being filed/is registered under the goods and service Tax Act, 2017.All her actions in relation to this business will be binding on me.     Signature of the person who is in charge. AAAAAA Designated Partner/DIRECTOR   Acceptance as an Authorised signatory I, .....BBBBB...., hereby solemnly accord my acceptance to act as authorised signatory for the above referred business and all my acts shall be binding on the business.     Signature of authorised signatory   BBBBBB Designated Partner/DIRECTOR   PLACE: DATE:   

  In the ever-evolving landscape of business and finance, efficient and accurate accounting is paramount to success. In this digital age, businesses of all sizes require robust accounting software to manage their financial transactions, generate reports, and maintain compliance with tax laws and regulations. One such software that has gained prominence in recent years is Tally Prime. In this article, we'll explore the features and benefits of Tally Prime, and how it has revolutionized accounting for businesses. Understanding Tally Prime Tally Prime is a versatile accounting and business management software developed by Tally Solutions. It has established itself as one of the leading accounting software solutions in India and is gaining popularity worldwide. Tally Prime is designed to streamline the accounting and financial processes for businesses, helping them save time and reduce manual errors. Key Features of Tally Prime Simplicity and User-Friendly Interface: Tally P...

  GSTR-1 is required to be filed by registered taxpayers under the Goods and Services Tax (GST) system in India on monthly or quarterly basis as the case may be. It contains details of all outward supplies (sales) made by a registered person during a specific tax period. Under GSTR-1, registered person are required to provide detailed information of every supply such as name of buyer, gst number of buyer types of supply whether business to business (B2B) or business to customer, value of supply, applicable tax rates, export supply, debit note, credit note, advances received against future supplies, HSN or SAC wise detail of supply, number of documents issued during the month or quarter etc. HSN or SAC detail under GSTR-1 is mandatory to be filled by supplier if the turnover of supplier is more than 5 crore, if turnover is below 5 crore then HSN or SAC is mandatory only in case of B2B supply. The due date for filing GSTR-1 depends on the scheme based opted by the business. B...

Section 147 gives the power to Assessing Officer (AO) to reopen the assessment proceedings, whenever AO finds that income has escaped assessment, they can reopen the case at anytime however before opening any case, AO must have reason to believe that either whole or part of income has escaped assessment. The processing for assessment is very transparent under AO will send a notice under section 148 to provide your income for the particular assessment year. The notice will be issued in a prescribed manner mentioning all the particulars in the notice you will be granted an opportunity of being heard for period 7-30 days from the date of notice issued.AO will verify whether the income has escaped or not. Notice for Income escaping assessment refers to any income earned by a taxpayer that is not reported to the tax authorities or underreported in the income tax return filed by the taxpayer. This income is not disclosed to the income tax department and therefore escapes taxation, leading...

GST APPLICABILITY ON RENT GST applicability on rent depends on factors like the type of property and the terms of the rental agreement. For the purpose of GST on rent we need to know the nature of property because there are different GST law and rules applicable according to the nature of property. Commercial Properties : In case of commercial property there is no confusion of GST applicability means renting of commercial properties is subject to GST. The GST rate applicable on commercial properties is 18%. Therefore, landlords need to charge 18% GST on the rent amount for commercial properties. Residential Properties : In care of residential properties there are two possibilities first one is the said property is let out for residential purpose then renting of such property for residential purpose is exempted from GST. Another possibility is the residential property is let out for commercial for purpose. If the residential property is let out for commercial purpose and landl...

  Liberalised Remittance Scheme (LRS) is a program introduced by the Reserve Bank of India (RBI) on 4 th February, 2004 on recommendation of Tarapore committee’s recommendations to facilitate the transfer of funds from India to foreign countries for certain permitted transactions. Under LRS, Indian residents can remit money abroad for various purposes, such as travel, education, medical treatment, investment, and gifting, up to a certain limit. Since June 2015 the limit under the LRS scheme is USD 250,000 per financial year per person. This means a person can remit up to US$ 250,000 in a financial year without seeking prior approval from the RBI. The scheme is available to all individuals, including minors, and is applicable for any foreign currency account or overseas investment.   There are certain conditions and restrictions that apply to the LRS scheme like remittance for purchase of lottery tickets, betting and gambling, or illegal activities are prohibited. Additi...