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Nidhi finance companies are mutual benefit type of companies which is works for the benefit of its members. Functions of company are limited to only its members, wherein the companies are permitted to accept deposit and give loan to its members. Legal compliance and requirements of Nidhi company registration are far less when compared with the other NBFC’s, which are functioning under the strict regulations of RBI.    A Non-Banking Financial Company (NBFC), as the name suggests is a Company (registered under the Companies Act) which is engaged in financial services as per business purpose. A Nidhi financial bank being financial institutions have functions and features similar to that of traditional Banks. Requirement of Nidhi Company Registration Services Nidhi finance company will always be public limited company and its name should end with ‘Nidhi Limited”, currently Nidhi Company is becoming very popular for lending business. ·          At least 3 directors & 7 members a

What is Income Tax Audit Tax Audit Services is a fundamental term for business in India. A tax audit is a process to check whether a business obeys the rules set by the Income Tax Act of India. Thus Tax Audit services are considered to be vital for every business. In this article, the point of discussion will be on Tax Audit Services Online in India . What is section 44AAB of income tax Act? The first thing that we need to know regarding tax audits is what is a tax audit? Inspection of the accounts of a company by a professional chartered accountant is known as Tax Audit. Section 44AB of Income Tax Act , mentions the regulations for the Tax audit of a company or a firm. This section was added in order to make sure that a business is conducted by providing precise information about his taxes, deductions and income. Tax Audit Applicability Tax audit applicability depends on two cases, For professions If the gross income is more than Rs 50 lakhs in a financial year. The prof