An operational audit is a structured, forward-looking review of how efficiently and effectively an organisation runs its day-to-day operations and internal processes. Unlike a statutory or financial audit, which concentrates on the accuracy of financial statements, an operational audit examines whether resources are being used economically and whether business activities are actually delivering the intended…
Choosing income tax filing software is a practical decision that affects accuracy, turnaround time and compliance risk for any tax professional or business in India. This guide sets out what to look for, the broad categories of tools available in 2026, and the considerations that matter when comparing them. It is deliberately advisory and vendor-neutral,…
A One Person Company (OPC) lets a single entrepreneur run a company with limited liability and a separate legal identity, without needing a second shareholder. Introduced under the Companies Act, 2013, the OPC structure suits solo founders, consultants and freelancers in Bangalore who want a corporate form but expect to hold complete ownership. This guide…
Businesses often need to update the name shown on their GST registration, whether because of a rebranding, a change in constitution, or a correction to the legal name recorded against the PAN. Under the GST law, both the trade name and the legal name are treated as core fields, and any change to them must…
Goods and Services Tax rates in India were significantly restructured by the GST 2.0 rate rationalisation that took effect on 22 September 2025. For businesses, the rate that applies to a supply is not a matter of guesswork — it flows from how the goods or service is classified and which rate schedule it falls…
A Section 8 company is a not-for-profit company incorporated under Section 8 of the Companies Act, 2013 to promote charitable and social objects such as education, art, science, sports, research, social welfare, religion, charity or protection of the environment. It enjoys the credibility and legal structure of a company while committing to apply its income…
A private limited company remains the most preferred business structure for entrepreneurs and growing enterprises in India, and for good reason. Governed by the Companies Act, 2013, it combines a distinct legal identity with the protection of limited liability while allowing founders to retain close control over ownership. This article explains the defining features and…
Freelancers, consultants and independent professionals in India increasingly work with a mix of domestic and overseas clients, which makes Goods and Services Tax (GST) one of the most common areas of confusion in their compliance. Whether you write code, design brands, offer marketing or provide advisory services, GST decides when you must register, how much…
Professional tax is a state-level levy on income earned from salaries, professions, trades and callings, and in Karnataka it is administered by the Commercial Taxes Department under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976. Every employer and most self-employed persons operating in the state have obligations under this law, discharged online…
The Import Export Code (IEC) is the ten-character identification number that every business engaged in cross-border trade must hold under the Foreign Trade (Development and Regulation) Act. Whether you are checking your own certificate, verifying a supplier, or completing paperwork for customs and your bank, the Directorate General of Foreign Trade (DGFT) portal makes it…