Bashmakh & Co (Chartered Accountant)

What do we understand by LLP Registration in Mumbai? It is to be noted that Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. Very first idea behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners. In today’s economy, LLP is considered as one of the easiest types of business to incorporate and manage in India. Also with an easy incorporation process and simple compliance formalities, LLPs are preferred by Professionals, Micro and Small businesses that are family-owned or closely-held. What is the difference between a Private Limited Company and a LLP? The difference can be drawn considering the following important aspects: - Cost: The cost for the incorporation of a private limited company or an LLP is the same. - Features: Both LLP and Private Limited Company offers more of the less the same features...

  A statutory audit is an audit that is recommended by diverse rules like the Reserve Bank of India, Income Tax, Companies Act, and so on. A Chartered Accountant needs to direct numerous audits according to the diverse statute requirement. Statutory Audit of banks is obligatory. The Procedure of Statutory Audit The Statutory Auditors ought to guarantee that the audit report given by them complies with the necessities of Revised SA 700 – Producing an Opinion and making a report on financial statements, SA 705 – Modifications to the assessment in the Independent Auditor's Report, and SA 706 – Emphasis of issue passages and other issue sections in the Independent Auditor's Report. These days, every single statutory examiner is given a time allotment wherein they need to embrace the audit of the branches that are distributed to them. An auditor ought to quickly acknowledge the appointment and send a conventional communication to the branch, and all other data that he would requir...

  The GST registration is mandatory to every person/business with an annual turnover of 20 lakhs or more and the person making the inter-state transactions of taxable goods/service however the person who is already registered can opt for GST Cancellation also in given scenarios: 1. If the annual turnover of the business falls under the threshold limit. 2. If the person discontinued the business. 3. If there is a change in the constitution of business. 4. If the person has transferred or merged the business with any other organization. For the cancellation, taxpayers have to submit FORM GST REG-29 through the GST portal. When the application of cancellation is approved by the proper officer then the registered person has to file the final return GSTR- 10 on GST portal within three months of the date of cancellation or date of order of cancellation by the officer whichever is later. Learn More 4. If the person has transferred or merged the business with any other organization.