As the name suggests HRA is a specific allowance that is granted by the employer to employee to meet the expenses incurred on rent. As per section 10 of Income Tax Act, 1961 Amount of HRA is not included in the total income of a person, which results in reduced tax liability. For claiming benefits of HRA exemption following conditions must be satisfied:
The employee has actually incurred expenditure on payment of rent i.e. he/she is living in a rented house.
The employee must not be the owner of the house in which he/she is living.
HRA Exemption limit
HRA exemption amount is calculated on the basis of area or place in which such house taken on rent by the employee is situated. Actual amount of HRA exemption shall be least of following:
Actual HRA received by the employee during the period he/she was living in rented house in the previous year.
Rent paid by the employee minus ten percent of basic salary.
50% of the basic salary if rented house is in metro city or 40% of basic salary if rented house is in non-metro city.
Here basic salary is basic+DA+commission on sale at fixed rate.
Deduction of Rent for self-employed and those not receiving any HRA
Section 80GG of Income Tax Act provide for deduction of any rent paid by a person from his total income which reduces his/her tax liability. For claiming the deduction under this section following conditions must be satisfied:
The assessee or his spouse or minor child or HUF of which he is a member does not own a residential house at the place where the assessee currently residing or performing duties of his office or employment or carries on his business or profession;
The assessee does not own a residential house at any other place which is self-occupied.
The assessee is self-employed or salaried.
If salaried, the assessee is not receiving any HRA from employer.
To claim deduction under this section the assessee is required to file form 10BA containing details of payment of rent.
Eligible Rent deduction amount: Maximum deduction in respect of rent paid by the assessee shall be least of the following:
Five thousand Rupees Per Month.
twenty-five percent of total income of the assessee for the year.
Quick FAQ and notes
What if I forget to submit my rent receipts to my employer?
You can claim HRA exemption while filing your Income Tax Return.
Can I claim HRA exemption if I am paying rent to my spouse (Husband/Wife)?
No, it is not allowed as per the provisions of Income Tax.
Do I need to upload any document with my Income Tax Return for claiming HRA exemption?
No, but it is advisable to keep relevant documents handy in case you receive any notice from tax authority.
Can I claim HRA exemption if I am paying rent to my parents?
Yes, you can claim HRA exemption while paying rent to your parents. You may execute a rent agreement with your parents and get rent receipts signed from them to avoid any tax litigation.
What are the documents required for claiming HRA exemption?
Rent Agreement
Rent Receipts
Pan of landlord if annual rent is more than one lakh rupees.
Click here to File your Income Tax Return
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Any NGO receiving Foreign Contribution is required to take FCRA registration with Ministry of Home Affairs online.
Eligibility criteria for grant of registration
For applying for registration under FCRA NGO should:
be registered under an existing statute like the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or section 25 of the Companies Act, 1956 (Now Section 8 of Companies Act, 2013) etc;
Normally be in existence for at least three years and has undertaken reasonable activity in its chosen field for the benefit of the society for which the foreign contribution is proposed to be utilised.
For this purpose, the association should have spent at least Rs.10,00,000/- over the last three years on its aims and objects, excluding administrative expenditure. Statements of Income & Expenditure, duly audited by Chartered Accountant, for last three years are to be submitted to substantiate that it meets the financial parameter
Permission to accept Foreign Contribution
There are two modes of obtaining permission to accept foreign contribution according to FCRA, 2010:
An organization in formative stage is not eligible for registration. Such organization may apply for grant of prior permission under FCRA, 2010.
Prior permission is granted for receipt of a specific amount from a specific donor for carrying out specific activities/projects. For this purpose, the association should meet following criteria:
be registered under Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or section 25 of the Companies Act, 1956 etc;
submit a specific commitment letter from the donor indicating the amount of foreign contribution and the purpose for which it is proposed to be given; and
For Indian recipient organizations and foreign donor organizations having common members, FCRA Prior Permission shall be granted to the Indian recipient organizations subject to its satisfying the following:
The Chief Functionary of the recipient Indian organization should not be a part of the donor organization.
At least 51% of the office-bearers/ members of the Governing body of the Indian recipient organization should not be members/employees of the foreign donor organization.
In case of foreign donor organization being a single person/individual that person should not be the Chief Functionary of the recipient Indian organization.
In case of a single foreign donor, at least 51% office bearers/members of the governing body of the recipient organization should not be the family members and close relatives of the donor
Conditions to be met for the grant of registration and prior permission
In terms of Sec.12 (4) of FCRA, 2010, the following shall be the conditions for the grant of registration and prior permission:
(a) The ‘person’ making an application for registration or grant of prior permission-
is not fictitious or benami;
has not been prosecuted or convicted for indulging in activities aimed at conversion through inducement or force, either directly or indirectly, from one religious faith to another;
has not been prosecuted or convicted for creating communal tension or disharmony in any specified district or any other part of the country;
has not been found guilty of diversion or mis-utilisation of its funds;
is not engaged or likely to engage in propagation of sedition or advocate violent methods to achieve its ends;
is not likely to use the foreign contribution for personal gains or divert it for undesirable purposes;
has not contravened any of the provisions of this Act;
has not been prohibited from accepting foreign contribution;
the person being an individual, such individual has neither been convicted under any law for the time being in force nor any prosecution for any offence is pending against him.
the person being other than an individual, any of its directors or office bearers has neither been convicted under any law for the time being in force nor any prosecution for any offence is pending against him.
(b) the acceptance of foreign contribution by the association/ person is not likely to affect prejudicially –
the sovereignty and integrity of India;
the security, strategic, scientific or economic interest of the State;
the public interest;
freedom or fairness of election to any Legislature;
friendly relation with any foreign State;
harmony between religious, racial, social, linguistic, regional groups, castes or communities.
(c) the acceptance of foreign contribution-
shall not lead to incitement of an offence;
shall not endanger the life or physical safety of any person.
Documents Required for Making FCRA registration Application
(A) Registration
jpg file of signature of the chief functionary (size:__________)
self-certified copy of registration certificate/Trust deed etc., of the association (size:_____________)
self-certified copy of relevant pages of Memorandum of Association/ Article of Association showing aim and objects of the association.
Activity Report indicating details of activities during the last three years; (size:_____________)
Copies of relevant audited statement of accounts for the past three years (Assets and Liabilities, Receipt and Payment, Income and Expenditure) clearly reflecting expenditure incurred on aims and objects of the association and on administrative expenditure; (size:______________)
(B) Prior Permission
jpg file of signature of the chief functionary (size:__________)
self-certified copy of registration certificate/Trust deed etc., of the association (size:_____________)
duly signed Commitment Letter from Donor.
If functioning as editor, owner, printer or publisher of a publication registered under the Press and Registration of Books Act, 1867, a certificate from the Registrar of Newspapers for India that the publication is not a newspaper in terms of section 1(1) of the said Act.
Fastlegal Provides FCRA Registration Services , for more information Please Call at 9782280098 or email us at support@fastlegal.in
Sub Registrar office is where documents executed are registered by the government office, like if you buying / Selling Property in Jaipur, Rajasthan you are required to get the property deed registered under the office of Sub Registrar, also if you are making a will, Lease agreement than you may registrar these documents at Sub-registrar office. Following are the List sub-registrar office’s in Jaipur, Rajasthan
Following are the List sub-registrar office in Jaipur, Rajasthan
सरकारी अनुदान प्राप्त करने के लिए NGO के लिए NITI Aayog पंजीकरण आवश्यक है, अब सभी NGO और स्वैच्छिक संगठनों (VOs) के लिए FCRA पंजीकरण / नवीनीकरण के लिए आवेदन करने से पहले NITI Aayog के साथ पंजीकरण करना और मंत्रालयों या विभागों से अनुदान प्राप्त करना अनिवार्य है। केंद्र सरकार की।
एनजीओ के एनआईटीआईएओजी के साथ पंजीकरण करने के लिए आवश्यक जानकारी और दस्तावेज:
एनजीओ का नाम
एनजीओ का पूरा पता
ईमेल आईडी
मोबाइल No.
एनजीओ के पैन की कॉपी कार्यालय वाहक विवरण का विवरण:
सदस्य का नाम
जन्म की तारीख
पद
पैन कार्ड कॉपी
आधार कार्ड कॉपी
ईमेल आईडी
और मोबाइल नं
संगठन में कार्य करना
एनजीओ के फंड का स्रोत
मुख्य संपर्क व्यक्ति
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Fastlegal NGO के लिए NITI Aayog पंजीकरण सेवाएँ प्रदान करता है, कृपया हमें अपनी आवश्यकताओं के लिए +919782280098 पर संपर्क करें या हमें mail@fastlegal.in पर ईमेल करें।
In this article we will discuss about new Rule 88D, To ensure accurate input tax credit claims, the Central Board of Indirect Taxes and Customs (CBIC) has taken a significant step by introducing Rule 88D through Notification No. 38/2023-Central tax dated 04.08.2022. This new rule aims to streamline the process of claiming input tax credit and rectify any discrepancies between GSTR-2B and GSTR-3B, enhancing compliance and transparency for taxpayers.
Understanding Rule 88D:
Under Rule 88D, the GST portal will now compare the Input Tax Credit (ITC) available in GSTR-2B with the ITC availed in GSTR-3B. If the ITC availed in GSTR-3B exceeds the ITC available in GSTR-2B by the prescribed amount and percentage recommended by the council, the taxpayer will receive an electronic intimation of the difference through Part A of Form DRC-01C. The taxpayer will also receive a copy of the intimation via email.
Compliance Options under Rule 88D:
Upon receiving the intimation, the taxpayer has two options to comply:
Pay the Excess Credit: The taxpayer can pay the amount equal to the excess input tax credit availed in GSTR-3B along with interest under section 50 through FORM GST DRC-03.
Provide Explanation: Alternatively, the taxpayer can respond within 7 days by providing reasons for the difference in Part B of FORM GST DRC-01C on the common portal.
If the taxpayer decides to settle the excess input tax credit, they should provide the relevant information in Part B of Form DRC-01C through the common portal. Alternatively, if the taxpayer chooses to explain the discrepancy, they must do so within the designated 7-day timeframe, also in Part B of Form DRC-01C.
Significance and Implications of Rule 88D:
The implementation of Rule 88D by CBIC carries great importance for both taxpayers and the GST system. The rule focuses on comparing ITC data from GSTR-2B and GSTR-3B to detect and correct any inconsistencies, ensuring that rightful input tax credit claims are made accurately. This initiative enhances transparency and streamlines the tax credit process, effectively reducing the possibility of erroneous claims.
With prompt intimation and two compliance choices, taxpayers gain the ability to swiftly rectify any discrepancies. This timely approach promotes responsible tax reporting and upholds the credibility of the GST system.
Conclusion:
The implementation of Rule 88D by CBIC marks a crucial milestone in the journey towards a more transparent and efficient GST regime. By addressing discrepancies in input tax credit claims, this new rule promotes compliance and instills confidence in the taxation system.
It is crucial for taxpayers to reconcile their Input Tax Credit (ITC) claims in GSTR-3B with the ITC available in GSTR-2B. Any discrepancies should be promptly addressed to avoid penalties and adverse actions from tax authorities. Staying informed and compliant with GST regulations is essential for smooth tax operations.
Section 1: Understanding the Importance of a Food License
If you are planning to start a food business in India, obtaining a food license is crucial. A food license, also known as a food safety and standards license, is a legal requirement for any individual or entity involved in the manufacturing, processing, packaging, storage, transportation, or distribution of food products. This license ensures that your business complies with the food safety regulations set by the Food Safety and Standards Authority of India (FSSAI).
Having a food license not only establishes your credibility and trustworthiness in the market but also assures your customers that the food products they consume are safe and meet the required quality standards. It is a mark of authenticity that can help you gain a competitive edge in the industry.
Section 2: Step-by-Step Guide to Obtaining a Food License
Step 1: Determine the type of food license required for your business. The FSSAI offers three categories of food licenses based on the size and nature of your business: Basic Registration, State License, and Central License. Assess your business operations and choose the appropriate license.
Step 2: Gather the necessary documents such as identity proof, address proof, and proof of business entity. These documents may include PAN card, Aadhaar card, rent agreement, ownership documents, etc. Ensure that all the documents are valid and up to date.
Step 3: Apply for the food license through the FSSAI online portal. Fill in the required details accurately and attach the supporting documents. Pay the necessary fees as per the license category.
Step 4: Once the application is submitted, the FSSAI will review the documents and conduct an inspection of your premises. During the inspection, they will assess the hygiene and safety practices followed by your business. Ensure that your premises comply with the necessary standards.
Step 5: After the inspection, the FSSAI will issue the food license if everything is found to be in order. The license will be valid for a specific duration, after which it needs to be renewed.
Conclusion
Obtaining a food license in India is a crucial step towards establishing a successful and trustworthy food business. By following the step-by-step guide mentioned in this article, you can ensure a smooth and hassle-free process of acquiring the necessary license. Remember, compliance with food safety regulations not only safeguards your business but also protects the health and well-being of your customers.
Every law firm needs new clients to grow and survive. Your firm could be located anywhere in the world, but more clients means more business. Word of mouth has long been the most effective marketing strategy in getting clients. However, times are changing, as there are plenty of online marketing strategies to acquire new clients for your practice area.
With 96 percent of people seeking legal advice using search engines and around 74 percent who begin their searches actually end up calling law firms through their phones. Online presence has become a necessity in growing a successful law firm in today’s digital age. Search Engine Optimization (SEO) is key in building your online presence and making you visible to prospects. Law firms that optimize SEO ranks their website higher on search engines and generate more traffic which ultimately leads to more clients. In this article, you will learn some key aspects in building your SEO law firm and boost higher in website rank boosting.
(What is Law Firm SEO and Why is it Important in Boosting Website Rank. Credit: Pexel)
What is SEO and why Law firm SEO?
SEO has always been an integral part of a successful marketing strategy. Whether you are offering a product or a service, the competition has become more evolved than ever before. SEO is a process of improving your online presence and website with a collection of tools so that your site ranks higher in search engines. Well, we know the fact that if your site receives more clicks, the more people visit your site and this brings an opportunity for those users to find the service or product that interests them.
In other words, if your law firm appears on the first page of the top search engine results, your site will drive it more visitors. Once visitors click your website, they will have access to the content on your site and could reach out to you provided your information is helpful or not. The challenge is trying to get your law firm to the top of the search results. SEO is business is similar to law firm SEO’s as the process remains the same but few things such as targeted keywords and content differ. Since we are talking about optimizing websites, if you are looking for a good web hosting provider, 28msec provides excellent reviews on hosting services. You can check their web hosting comparisons which can help you make a decision for your company.
For example, if you are a criminal attorney practicing in Toronto, Canada. When people living in your city type ‘criminal attorney Toronto’, a list of attorneys are visible to them from which they can choose from. The same goes for other law practices from any part of the world. The goal is to be found by potential clients first.
Benefits of Law Firm SEO
Targeting Keywords
People use keywords to search information on search engines to find what they are looking for. Knowing what these keywords are is the first step to optimizing your website and driving more traffic to it. By making a list of phrases and keywords that people could use for your services is the first step in optimizing your website and driving traffic to it. You can use free keyword tools that are available such as Google suggestions, Google trends, WMS Everywhere and Keyword.IO.
Strategic Keyword Selection
Using any keyword aimlessly or excessively within your content can result in penalizations by search engines. Your keywords should be distributed on your website such as in your home page, service pages, blogs,etc. You can also include them in your H1s. H2s and H3s. Another important strategy is using keywords in your meta descriptions and images on your site.
Content Quality
One of the first steps taken by potential clients is seeking legal counsel in search engines for general information. Providing clients with high quality content which is informativ can reduce bounce rates and increase the chances of turning your website visitors into leads. Guest posts, blogs and social media are a great way to reach out to readers with relevant and informative content. Use keywords in your content to make it visible to search engines. Your posts will also be a valuable source of quality backlinks to help improve your search rankings.
(What is Law Firm SEO and Why is it Important in Boosting Website Rank. Credit: Pexel)
Website Design and Structure
User experience is an essential part of keeping visitors on your site long enough to turn them into clients. That’s why a website with good design and structure is vital for SEO. Your website should not only be attractive in design but also be easy to navigate. It should present information in a way that makes it easy for users to get the information they need.
Your website should have a friendly design yet reflect professionalism. It should be a reflection of your law firm.
Schema Markup
You can boost your website’s visibility in SERPs using schema markup. This powerful tool involves putting code (semantic vocabulary) on your website that helps search engine bots to pick up more information on web pages that is relevant to users.
Your listing on search engine results pages will be a rich snippet that includes information such as images, star ratings, site links, images and much more. Providing users with more information about what they can expect when they visit your website or who you are is a great way to attract qualified leads to your website.
Very GMB Listing
You can improve your online presence and drive traffic to your website by adding your business on Google My Business. Your clients or potential clients will be provided with detailed information about business on Google Maps and GooGle Search pages such as address, phone number and client reviews. You can add images to make your listing a bit attractive. Include relevant keywords to ensure you get better ranking on Google Maps and Google Search.
Social Media
The easiest way to improve online visibility is social media. By posting relevant and informative content can drive people to your social media handle and in turn to your website. You can also add your social media platforms to your website which will add credibility to your firm and improve your websites SEO. By doing so people will be inspired to share, comment or report if your content is relevant to them.
These are just some of the benefits you will receive from running an SEO campaign on your law firm website. As you can see by changing a few things on your website, it will not only improve your website but help you grow and reach out to valuable clients to your site. If you are new to these resources, you may want to turn to an SEO company or coach who can guide such as Matt Diggity. He is a proficient SEO coach who can teach you on how to double or triple your SEO results. You can also check their page to learn more about SEO marketing strategies. Here are a few tips to help you find the best SEO company for your law firm.
(What is Law Firm SEO and Why is it Important in Boosting Website Rank. Credit: Pexel)
How to Find the Right SEO Company
A portfolio tells you a lot about a company and the work they do. By looking at a company’s portfolio, it will give you insight into their experience and process as a SEO agency.
The next you would want to look out for is results. Any successful SEO company for lawyers will have a long history of results from their clients. A successful SEO is beneficial in improving your website and achieving great results.
Company values are a very important part of selecting an SEO company. Hiring a company that shares similar values will help create a better partnership and help you drive better results for your law firm.
It is important that you investigate the teams dn see what qualifications they have. You can make sure they fit well with your company because a knowledgeable SEO company will help you drive in more traffic.
When you find an SEO company you think fits your website’s need, don’t be afraid to ask them questions. A qualified SEO company will address your questions or concerns as best as possible. If they are transparent and upfront with you about any concerns. You too can be honest, flexible and will to do what’s best for you and your company. This is a great way to help you find the best SEO company for lawyers.
Now that you know the importance of law firm SEO, you can optimize your website to achieve better results.
ISI certification is granted to corporations and products by the BIS (Bureau of Indian Standards), which is the standardization authority of India. ISI Certification ensures that the products that are delivered to the customers are safe are in adherence with all the quality and safety standards set by them.
ISI mark or the Indian Standard Institute, which is known as BIS, is a standard body in India that checks the quality and the efficiency of different products in India and hence keeps in check if the company is following the laid out standards given by the Institute. Now there is a very common misconception amongst the general public that ISI Certification and ISO Certification are one and the same thing. However, this is not at all true, even though both certifications work on laying out different standards and aim for one thing that is high-quality products and services to be given out they are still very much different.
Whereas ISO Certificationis provided to a company and the way it works, the internal working system (in accordance with the International Standards laid out by the ISO), ISI Certification is given out to products also, more commonly known as ISI mark.
The objectives of ISI Certification in India are as follows:
Ensuring delivery of high-quality products to customers;
Reducing wastage of resources and thereby minimising the production costs;
Mitigating product rejections;
Enhancing customer satisfaction and increasing the goodwill of the business;
Providing better growth prospects to the business;
Guaranteeing the quality and safety of products.
Who grants ISI Certification in India?
The National Standard Body, i.e., BIS (Bureau of Indian Standards), has the autonomy to grant ISI certificates or mark in India. Further, once an application for the ISI Certificate is received, the BIS officer starts a preliminary examination and verification of the factory premise. The same is done to ensure that the product not only complies with the Indian Standards but is also safe to use and is not hazardous to the health of citizens in any form.
The following are the benefits of an ISI Marked Product:
An ISI marked products certifies its quality to its customers;
An ISI marked product reduces the business’s losses as well as product rejection;
An ISI marked product guarantees both better performance and longer shelf life.
Which products require Mandatory ISI Certification?
At present, the Indian Government has implemented numerous changes to the manufacturing and trading sector. These changes include specifying higher standards by the BIS (Bureau of Indian Standards) which must comply with by every manufacturer who wants to sell their product in the market. The following products require compulsory ISI Certification:
Household Electrical Appliances
Food Related Items
Cement
Medical Equipment
Oil Pressure Stoves and Cylinders
Automobile Components
Electrical Transformers
Steel Products
Milk Powder
Kitchen Appliance
Iron
LPG
The key pointers to consider about ISI Mark certification in India are as follows:
Details of the ISI mark certification must be specified by the seller on every invoice.
Anyone can file a complaint to BIS if the product is not of good quality.
All the manufacturers are regularly monitored by the BIS.
The BIS Officer requires three months’ time to investigate a complaint filed against a manufacturer.
What are the Documents required for obtaining ISI Certification?
The documents required for obtaining an ISI Certification are listed below:
A copy of the Certification of Registrations;(COI, in case of company, pan card in case of propriertor, Partnership deed in case of partnership )
A copy of the Test Report by a BSI (Bureau Standards of India) authorized internal laboratory;
Details of all the equipment used for testing;
Packaging details like the size of the product, storage facility, quantity, etc.;
Flow chart followed in the process of manufacturing;
Proof of Indian Residency;
A copy of the Trademark Registration;
The disposing technique of the inferior product;
All the details regarding the quality control staff like Name, Experience, Designation, and Qualification;
Layout Plan of the Factory;
Particulars about the raw material being used;
All the details regarding machinery installed;
A copy of Certificate from the Regulatory Authority;
Product drawing;
A copy of the Company’s bank statement;
Utility bills like electricity bills, water, tax receipt.
Validity Of Certificate
The issued ISI Certificate is valid for a time span of one year and the same is qualified to get renewed after the expiry.
How to apply for the Renewal of ISI Certification?
An ISI Mark Certification is valid for one year. However, the same can be renewed further by filing an application for the renewal and paying the renewal fees prescribed.
What is the Penalty for misusing an ISI mark?
If a manufacturer/ producer of any goods counterfeits or imitates a registered mark, the manufacturer will be subjected to a penalty of Rs 50000 and imprisonment for up to one year.
The government has revised the Paid up Capital and Turnover Criteria Revised for Small Companies to Four crore as paid up capital and 40 crore as turnover.
Small Companies under Companies act enjoy less compliance burden as compared to normal Companies.
The major benefit are available for Small Company
No need to prepare Cash Flow Statement
No Annual Return Signing from Company Secretary
No Certification on E forms by Professionals
Less Disclosure in Director Report
Abridged Annual Return in form MGT7A
No internal Financial Control reporting in Auditor Report by Auditor
Holding of Two Board Meetings etc
Please note that following Companies are not included in the definition of Small Company
Public Company
Holding company or a subsidiary company
Section 8 Company
Company or body corporate governed by special act (LIC) (SBI)
