Impulse Financial

19/09/2018

05/04/2018

Financial Tips For 2018:

1. Avoid buying property on loans as it eats most of your earnings unless you have a clear plan for its repayment. It's important to monitor cash flow. Though, the house will be your asset, your liability will be much more.

2. Start a SIP at a very young age. Try to save atleast 15–25 % of your earnings.

3. Avoid buying a car unless you use it everyday.
4. Do not let this sentence scare you. “Mutual fund investment are subject to market risk. Please read the offer documents carefully before investing”. Most people avoid investing in mutual funds just because of this one warning. Yes, there is a market risk, but look at the history and growth of mutual funds.

5. Try having a simple wedding.

6. Atleast 20% of your wealth should be liquid so you can utilize it when necessary.

7. Considering inflation, you are actually losing money if it is in savings bank account. Do not keep huge money in savings bank account.

8. If you invest in stocks, pay due attention.

9. If you invest in stocks have a separate account for delivery investment and Intraday investment. It is easy to monitor this way and also makes tax calculation easy

10. Do not have a belief that property and car make you rich. Its what you save and invest, that is important.

11. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool.

12. Never use credit cards for lavish spending. Use credit cards intelligently and for needs not for wants.

13. Cancel all credit cards if not in use Or inform family about all your accounts, credit cards, loans and saving now itself. Even a small residue will cost your family much.

14. Invest on yourself and then on other investments.

15. Always try to balance your earnings with your savings first, then on spending and loans. Never take unnecessary loans. Always have reserve and utilise them and unless no other go never take loan.

16. Always have a plan for future events on your career, life, spending and finance.

17. Always have a reserve on your savings for contingency and urgent situations.

18. Your personal life and health are the most important investment. Do have a regular health check and do healthy workout every day. Stay healthy and live happily.

19. Always remember death can come anytime.....so please do buy adequate term Insurance if you have dependents.

20. Prepare a Will. It may avoid unnecessary fights after you die.

*Think & Act smartly*

27/03/2018

A Company Secretary to his wife, on returning from office.
Husband : Hi Dear, mark my attendance.
Wife : You are too late.
Husband : No problem, I am ready to pay the additional fee.
Wife : Be serious, we had a plan to go for movie.
Husband : i know this matter can be taken at any other meeting.
Wife : I really have done a wrong by marrying you.
Husband : Yes, also you should know that it is an un-compoundable offence.
Wife : Lets finalize whether we should live together or be separated.
Husband : Don’t be silly; proxies are not allowed to speak.
Wife : Please, Leave me alone
Husband : No, I cant let the meeting conducted without quorum.
Wife : I will just be mad.
Husband : Contract with or by any Lunatic person is void ab initio.
Wife : I just want to go my father's house, take these keys of your house.
Husband : Presently, I dont have any buyback offer.
Wife : i just want to be separated from you.
Husband : You have to apply to the Court for demerger.
Wife : i think we both are unable to settle our disputes.
Husband : No problem, lets apply the court for voluntary winding up.

26/03/2018

KEY COMPLIANCE'S POST INCORPORATION OF COMPANIES

1. Appointment of Auditor

One of the first orders of business after having obtained your company’s Certificate of Incorporation is the appointment of the first auditor of the company. Within 30 days from the date of registration of the company, the Board of Directors must call a board meeting and appoint an auditor for the company. In case the Board fails to appoint an auditor within the above timeline, it is required to inform the members of the company, who may then within 90 days of such intimation, appoint the first auditor of the company at an Extraordinary General Meeting. The tenure of the auditor so appointed is to be till the conclusion of the first Annual General Meeting.

2. Disclosure of Director’s Interest and Declaration Regarding Disqualification

Given that certain post-incorporation compliance's require the Board of Directors of the company to hold a board meeting (see above) within 30 days from the date of registration of the company, the directors of the company will be required to disclose their concern or interest in other companies or bodies corporate, firms or other associations of individuals and declare that directors are not disqualified (as per Section 164). These disclosures are to include directorship and shareholding. This is an ongoing compliance as well; directors must disclose their other interests from time to time as required by the Companies Act.

3. Registered Office

On and from the 15th day of its incorporation and at all times thereafter, the company is required to have a registered office capable of receiving and acknowledging communication and notices. The company is required to file a verification of the registered office with the Registrar of Companies within a period of 30 days of its incorporation in form INC-22. Furthermore, every company must:

i. paint or affix its name, and the address of its registered office, and keep the same painted or affixed, on the outside of every office or place in which its business is carried on, in a conspicuous position and in legible letters. This board must be in one of the languages in general use in that locality;

ii. have its name engraved in legible characters on its common seal, if any;

iii. get its name, address of its registered office and the Corporate Identity Number (CIN), along with telephone number, fax number, if any, e-mail and website addresses, if any, printed in all its business letters, bill heads, letter papers and in all its notices and other official publications; and

In case of any default in complying with any of these requirements in respect of the registered office etc., a company and every officer who is in default shall be subjected to a penalty of Rs. 1,000 for every day during which the default continues, not exceeding Rs. 1,00,000.

4. Issue of Share Certificates to Subscribers

Within a period of two months from the date of incorporation, every company must deliver the share certificates to the subscribers of the memorandum. This means that the subscriber has to remit the agreed subscription amount within 60 days from the date of incorporation.

Failure by the company to deliver the certificates will attract a fine which shall not be less than Rs. 25,000 but which may extend to Rs. 5,00,000. Also, every officer of the company who is in default shall be punishable with a fine which is not less than Rs. 10,000 but which may extend to Rs. 100,000.

There are logistical compliance's, too, that companies are required to fulfil immediately after incorporation. These include:

5. Letterhead & Statutory Registers

Mandatory particulars on the letterhead i.e. company identification number (CIN), registered office address, email ID of the company, website address, if any, and telephone number. The statutory registers would also need updating.

6. MGT 14

There must be an intimation to the ROC for certain resolutions passed at any meeting between directors or members of the company through form MGT 14. Such filings should be made within 30 days of passing; else a penalty is leviable.

23/03/2018

MSME stands for Micro, Small and Medium Enterprise. MSME or SSI enterprises are the foundation of any economy and are an engine of economic growth, advancing impartial improvement for all. MSME registration or SSI registration helps businesses avail multiple government subsidies and benefits.
Some Benefits under the Registration:-

Easy Bank Loans –

All the business which is registered under the MSME can avail the benefits regarding the bank loans. Banks provide the collateral free loans where your property is not pledged with the Banks.

Participate in the International Trade Fairs –

All the small business have to expand their business across the India or on an international level which is required to exposure and support from the government. Govts provide benefits to participate and special consideration in the international and national trade fairs which is organized by the MSME Department.

Benefits from Central Government –

The central government, from time to time, announces schemes to benefit MSMEs, such as the credit guarantee scheme.

Preference in the Government Tenders – MSME certified enterprise is preferred in the government tenders during the bid. so this is one of the most important advantages to win the big tenders.

Got the Subsidy on the Patent Registration –

There are a lot of the innovative small firms which are doing some innovative things & required a patent registration which is really expensive. Under this scheme you got the 50% waived off in the patent government registration fee.

For more information on the services we render, Please contact us on the following numbers and email id:
(M)8375970237, email [email protected]

14/03/2018

Kindly share and like my dear friends

13/03/2018

WORRIED OF GST?
So many compliances killing your business ?
Unnecessary penalties and fines killing your profit??

Outsource all your Accounting, Taxation (GST as well as Income Tax), Legal and Statutory Compliances to us.

We also undertake Book-Keeping, Accounting, Taxation and all Statutory Compliances at one place in Delhi ncr

Please call / whatsapp on 8375970237/9416467875/or you can mail us at [email protected] for further discussion.

GST Consulting including GST Registration, Tax Computation, Filing Tax Returns etc

Income Tax and all related matters such as PAN Card, Tax Returns, TDS Computation and Returns etc

Companies Act and ROC Compliances are also undertaken by our team.

10/03/2018

Outcome of 26th GST Council Meeting Decisions.

1. No decision on return simplification yet.

2. Interstate E-way bill from 1st April.

3. Form GSTR 3B will continue for next 3 Months.

4. Reverse Charge applicability deffered till July 2018.

5. Intrastate E way bill to be rolled out from April 15th in stages.

6. Tax Exemption for Exporters extended.

08/03/2018

*The Bombay High Court today directed the Centre and the Maharashtra government to resolve the citizens' grievances related to the Goods and Services Tax (GST) by April 24 this year.*

A bench of Justices SC Dharamadhikari and PD Naik also said that the authorities must also ensure that all infrastructure related to implementation of the GST regime was also put in place by the above deadline to ensure that the citizens did not face any problems.

"We trust that the Central and state authorities will resolve all outstanding and pending problems being faced by citizens while following the provisions of the GST regime.

"The authorities must create necessary infrastructure and make the new system fully operational by the next date of hearing (April 24)," the bench said.

The bench was hearing a petition filed by Abicor and Benzel Technoweld Pvt Ltd, a company engaged in the manufacture of robotic and automation equipment.

The petitioner had approached the HC in February this year claiming that it was unable to access its online profile on the Goods and Service Tax Network, without which it was unable to generate e-way bills, and was unable to move its goods anywhere.

The petitioner argued that while the Union government had decided to put in place an automated and electronic system of accepting tax returns based on self-assessment, without access to its online profile, it was unable to file its tax returns, pay tax, move its goods, or undertake any other compliances that were required under the GST rules.

Today, Additional Solicitor General Anil Singh told the bench that the GST Commissioners from the state and Centre had conducted a joint meeting with the petitioner company on March 1 this year and had resolved the petitioner's grievances.

Singh also submitted a report detailing the steps taken by the state authorities so far to resolve problems related to GST.

The bench observed that it was hopeful that both the Centre and the state will resolve all the problems related to the GST by the end of the next month.

The petitioner had claimed that while it was unable to file its GST returns online due to technical glitches, the state GST authorities were insisting that the company pay late fees.

At previous hearing, the bench had observed that it had come across several other petitions in different courts with grievances against GST.

The bench had also hoped the Union government would "wake up" and take corrective measures.

30/12/2017

Here is the Answer for Below Question Guys

Buying a car v/s Uber or ola :

An analysis. Any car in india cost atleast Rs 6,00,000
Scrap value after six year - Rs 1,00,000

Net amount goes in effective Life of six year Rs 5,00,000

Nos of days of six yr is 2200 days
So Rs. 5,00,000/2200 = Rs. 230 /day
Yearly insu Rs 15000 = Rs 41/day
Daily petrol minimum = Rs 100/Day
After every 3 yr tyre & Battery change charge Rs 25,000 i.e. = Rs. 23/day
Yearly maintanance of Car Rs 9000 i.e = Rs 25/day
If driver employed =Rs 300/day
Plus interest loss on Car buying amount @8% on Rs 6,00,000 = Rs 131/day

_______________ So total daily exp is After buying new car = Rs 850/day ------------------------

So friends untill you pay Rs 850 daily to hire a cab you are effectively in gain travelling in uber or ola.

This is called financial planning.