8 benefits of cashless payroll processing for small business

One such highly important activity is the payroll services for the employees, Usually to manage this, SME’s prefer to outsourcing payroll services, However, now SME’s can try the new cashless online payroll services solutions available in the market. The benefits of using such services can add up in the long run and the recent demonetisation effect and cashless movement has opened up new opportunities.
Every though few people have shown resistance towards the cashless movement, if electronic monetary systems will be successfully implemented across sectors and organisation, people will necessarily have to accept the new cashless system. Cashless payroll systems provide various advantages to the organisations and it is easy to understand why everyone will gladly accept it, without having to be forced into. Listed below are  few such advantages that organization will receive with cashless payroll processing for their employees.

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GST to spur double digit growth in hiring across sectors

The implementation of the Goods and Services Tax (GST) will lead to 11 per cent growth in hiring activities, says a report released on Tuesday.
HR services provider TeamLease said that GST would not only have a positive impact on the ease of doing business but also propel formal job creation.
“Adoption of GST will lead to an 11 per cent growth in hiring across sectors in chartered accountant firms in mumbai. Further, from a region perspective though marginally South India will top the job generation chart,” it said.
Automobiles, logistics, home decor, e-commerce, media and entertainment, and cement sectors are projected to create 11-18 per cent additional jobs annually after implementation of GST.
In the case of IT/ITeS and BFSI segments, the growth rate has been pegged between 10 and 12.5 per cent.
According to TeamLease, around 10 to 13 per cent additional jobs are expected to be created every year by consumer durables, pharmaceuticals and telecommunications sectors.

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E- Commerce firms like flipkart and snapdeal to deduct TCS under GST

E-commerce operators like Flipkart and Snapdeal will have to deduct TCSBSE -1.02 % (tax collected at source) while making payments to their suppliers, according to the new model GST law, which has done away with the definition of ‘aggregator’.
Explaining the changes in the provision, experts said the proposal will increase the compliance burden on e-commerce operators as they will have to deduct 2 per cent TCS and deposit it with the government.
The measure, Nangia & Co Director Rajat Mohan said, will not increase the incidence of indirect taxation in India on consumers as the supplier will get tax credit for the TCS. The model GST law provides for 1 per cent TCS to be deducted by the E-commerce operators.
According to experts, this would mean that a similar amount will have to be levied on inter-state movement of goods, taking the total TCS deduction to 2 per cent although burden on consumers will not increase.
Mohan further said in case of return of goods by the consumer, the e-commerce companies will not have to deduct TCS as there is no actual sale.
The draft model GST law does not provide any definition of businesses would be covered under the term.
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Ex-Bigg Boss contestant Aashka Goradia gets engaged to american Beau.

After Aman Varma and Kishwer-Suyyash, it is Naagin actor and ex-Bigg Boss contestant Aashka Goradia who has got engaged in a hush-hush ceremony with her American beau Brent Goble. Apparently, Brent proposed Aashka on Christmas eve when she was vacationing with him and his family in the US. Brent swept the television actress off her feet as he went down on his knees to ask her to marry him.
A source close to Times of India confirmed, “Brent went down on his knee to express his love for Aashka. He asked her to marry him in front of his family. He had been planning his proposal meticulously for months. The ring he has gifted Aashka has two sapphires flanking the diamond.”

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Being an outsider proved an advantage for me: Anushka Sharma

She had a dream debut in Bollywood opposite superstar Shah Rukh Khan in Rab Ne Bana Di Jodi, but her ride in showbiz has been bumpy with several highs and lows. Actress Anushka Sharma — who earlier this month completed eight years since she walked into the glitzy Hindi movie world — says having no strings attached to film families, worked in her favour.

The actress said she started her journey with a clean slate — without any “preconceived notions about the way you have to do things”.


“Being an outsider turned out to be an advantage for me. I didn’t come with any preconceived notions about the way you have to do things, so I just been exactly the way I am at home,” Anushka told IANS in an email interview from Mumbai.

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Highways and Shipping Nitin Gadkari and fashion designer-turned-BJP leader Saina NC in Delhi. Other actors including Sakshi Tanwar and all the Dangal girls Zaira Wasim, Fatima Sana Shaikh, Sanya Malhotra and Suhani Bhatnagar, who played younger and older Geeta and Babita in the film, were also in attendance.

Seeing the happy faces, one can totally figure out that the film was liked by all the leaders too. Dangal has also been declared tax-free in Uttar Pradesh, Uttarakhand, and Haryana. Aamir Khan was sported in his stylish moustache look. The film has been directed by Nitesh Tiwari, and has performances which are spot-on, and we don’t just mean the 51-year-old actor who plays Mahavir Phogat but also the entire cast.

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The countries in three continents : After Modi's india, Demonetisation is spreading around the world

Six weeks ago, when prime minister Narendra Modi announced his government’s decision to demonetise Rs500 and Rs1,000 notes, it wasn’t just Indians who were taken aback.
World leaders, economists, and international organisations watched the bold experiment with a mix of wonder and worry. Would it work as a means to crack down on unaccounted cash and counterfeit currency in foreign companies subsidiary? So far, Modi’s move has left millions scrambling for cash, hitting consumption and thereby threatening GDP growth in India.
Nonetheless, it now appears Modi’s move was just the first of a handful of such year-end demonetisation exercises around the world

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How to make fake RS 2,000 notes? Bengaluru Men used a copier and Glitter pen

 In Bengaluru, four men used a copier and some glitter to make fake 2,000-rupee notes that they even used in several shops.

By the time they were arrested yesterday, they had successfully used the notes in eight liquor shops.
Their fake money trick lasted only four days.
Last Friday, they began with 25 crisp fake notes, generated on a photocopy machine at a friend's shop.

"Shashank and Madhu Kumar copied the new 2,000 rupee denomination note in their friend's Xerox shop. Then they had cut the paper according to size. They used a glitter pen to give that green tinge," senior police officer

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Private Firm Stashes 10 crore in Bank Lockers? Searches Held in Pune

Multiple lockers of a Bank of Maharashtra branch in Pune were searched today by the Income Tax Department after a tip off that a private firm might have deposited nearly Rs.10 crores in them, both in new and old currency, post the November 8 announcement of the banning of old 500 and 1,000-rupee notes.

The branch is located in Pune's Parvati area. The Income Tax officials conducted searches after they got inputs that a huge amount of cash has been deposited in the lockers by the private firm.

"The lockers are being searched in the Bank of Maharashtra in Pune. The seizures will be effected soon," said a senior Income Tax Department official.

Original Source: http://bit.ly/2hvZmeE 

5 Tips to Choose The Best HRMS For Small Business.

When it comes to managing the most important assets of your business—your people, nothing compares to the convenience of a payroll services company (HRMS software). From recruitment and on-boarding to compensation and training, the best HRMS software can provide a central location where all employees and vendors data is stored and carefully monitored.

Payroll management services enables the organization to see at a glance how well personnel are being managed, with metrics to evaluate the return on investment.

There are many choices of HRMSSoftware in the market, due to sudden increased innovation and competition in this space. Each HRMS solutions comes with its own unique set of features.

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Company Formation in India

So you have finally decided for company formation in India and researched market. Now it’s time to make a decision regarding how to approach someone for company registration in Delhi. What is the best, most viable option for your company, your products, and yourself?

For formally foreign company registration in India, one need to fulfill many formalities. If we are right, in most cases it is necessary to obtain government approval for incorporating a company in India. It is must to seek formal advice before starting a company.

The following types of businesses are usually uses by foreign investors to set up a company in India.

 Private Limited Company: A private limited company is a company limited by shares having a minimum of 2 and not more than 50 shareholders. A private company needs to have a minimum a paid-up share capital of Rs.1 lac. It cannot make invitation to the publc for subscriptionof shares or debentures and cannot make or accept deposits from public. Moreover, by virtue of its article of association, there is restriction on the free transferability of shares. The liability of each shareholder is limited to the extent of the unpaid amount of the face value of share and the premium thereon in the respect of the shares held by him. However, the liability of a director/manager of such private company at times can be unlimited.  

Public Limited Company: A public limited company (PLC) is the legal designation of a limited liability company which has offered shares to the general public and has limited liability. A PLC's stock is offered to the general public and can be acquired by anyone, either privately, during an initial public offering or through trades on the stock market.

Other business forms:

•             Liasion Office
•             Project Office
•       Branch Office

For more information:

AJSH & Co LLP. primarily operates from its head office located in New Delhi, India and has associated members working across India and in USA. Our aim is to provide best quality consultancy service at affordable prices to cater the specific requirements of our clients located in India as well as abroad.

AJSH & Co LLP. has a team of highly qualified and dedicated professionals comprising of Chartered Accountants, Company Secretaries, Certified Public Accountants (CPAs), Lawyers, MBAs etc. specialized in providing professional advisory services on setting up business in India including company formation, various forms of foreign direct investment, setting up partnership firms, project offices, branch offices and all other form of entities required to do business in New Delhi, Gurgaon or any part of India.

Please feel free to email sales team at E: anklit@ajsh.in,  also reachable on Direct numbers or + 91  9810661322. Please feel free to visit at www.companyformationsservices.com

Government proposed amendments in Income tax provisions

The government has proposed few amendments in the existing Income tax provisions in order to catch up those people who want to convert black money into white using illegal channels. At same time, it has created confusion among a section of people.

The government also cleared that it is only for unaccounted or black money. It will not affect any genuine tax payers.

1.    The government will charge 30 percent tax and 33 percent surcharge of the tax with 10 percent penalty. It amounts to total 50 percent of income declared.

2.    The government will deposit 25% of declared income in the Pradhan Mantri Garib Kalyan Yojana or PMGKY-interest free deposit scheme – for four years. For instance, if a person deposit 1 crore rupee, 49.9 percent will be deducted as tax, surcharge & penalty. Out of the rest 50 lakh, 25 lakh will be deposited in PMGKY for four years.

3. Anyone who continues to hold onto undisclosed cash & caught then according to existing tax provisions, 75 percent tax will be charged on his/her income. The assessing officer can charge 10 percent penalty in addition to the 75 percent tax. 

4.    The jewelry or gold purchased out of disclosed income or out of exempted income like agricultural income or out of reasonable household savings or legally inherited which has been acquired out of explained sources is neither chargeable to tax under the existing provisions nor under the proposed amended provisions.

5.    The Government also clarified that no seizure of jewelry and ornaments to the extent of 500 grams per married lady, 250 grams per unmarried lady and 100 grams per male of the family shall be made.

About the Author:

AJSH helped various individuals in company formation in India. They offer services such as auditing services, tax consulting services and foreign investment approvals. 

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Alibaba is not reportedly buying Snapdeal

China's Alibaba Group is not buying the e-commerce company Snapdeal and is not in talks to do so, reports Reuters citing sources. 

This follows reports from yesterday which suggested that Alibaba was looking to buy Snapdeal for $2 billion, ahead of its consumer business foray in India early next year. Alibaba is an investor in Snapdeal, having led a $500 million funding round into the online marketplace along with Foxconn and SoftBank in August last year. 

Alibaba also owns 40% stake in the digital payments and commerce firm Paytm. ET reported in October that Paytm is spinning off its marketplace business, setting the stage for Alibaba to establish a direct presence in the country. 

Alibaba began setting up its India team early this year, and was also scouting for an India office in Bengaluru. It hired former LocalOye chief business officer Bharati Balakrishnan as the first employee of India unit in June. 

In September, Alibaba roped in former McKinsey and Goldman Sachs executive Madhur Deep as senior vice president. Deep is expected to lead the company's business strategy including market entry, investments and partnerships for both B2B and consumer facing commerce businesses of Alibaba Group in India. 

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