October 6, 2026
HSN and SAC Codes under GST
HSN (Harmonised System of Nomenclature) codes classify goods, and SAC (Service Accounting Codes) classify services. Both appear on GST invoices and in returns, and they decide which tax…
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October 6, 2026
Bank Statement and Cancelled Cheque as Proof: Requirements
A bank statement shows your account activity for a period, and a cancelled cheque shows your account number, IFSC and name on a leaf marked void. Businesses use…
October 6, 2026
Types of Directors: Executive, Non-Executive, Nominee, Independent
A director is a person on a company’s board who helps decide how it is run. Directors are grouped by role: executive directors work in the business full…
October 6, 2026
What is Input Tax Credit (ITC) under GST
Input Tax Credit is the GST you paid on business purchases, which you can subtract from the GST you collect on sales. You then pay only the difference…
October 6, 2026
Bye-laws of a Society or Co-operative Society
Bye-laws are the internal rules of a society or co-operative society. They set out the name, objects, membership, capital, how the board is chosen, how meetings run, and…
October 6, 2026
Which ITR Form to File: ITR-1 to ITR-7 Explained
The right ITR form depends on who you are and what you earn. Salaried residents with simple income use ITR-1, people with business income use ITR-3 or ITR-4,…
October 6, 2026
What is MOA (Memorandum of Association)? Meaning, Clauses and Uses
The Memorandum of Association (MOA) is the founding document of a company. It states the company’s name, registered office state, objects, member liability and share capital, and it…
October 6, 2026
GSTR-2B and How It Matches Input Tax Credit
GSTR-2B is an auto-drafted statement on the GST portal that shows the input tax credit (ITC) you can claim for a month, based on what your suppliers reported…
October 6, 2026
What is a Certificate of Incorporation? Meaning, Contents and Uses
A Certificate of Incorporation is the document issued by the Registrar of Companies (ROC) that proves a company legally exists. It carries the company name, its Corporate Identification…
October 6, 2026
KMP and Company Secretary under the Companies Act
Key Managerial Personnel (KMP) are the senior people the Companies Act names as responsible for running a company. They include the CEO, managing director or manager, whole-time director,…