Measures to curb black money have been on the lips of every Finance Minister and Honorable Minister Shri Arun Jaitley is no exception. As we know, Real Estate business is the largest contributor of black money transactions. He trusts on the JAM (Jandhan, Aadhar, Mobile) generation to move away from such dark deals and build […]
In Commercial Taxes Department, the Assessment Wing and Enforcement Wing function under the control of the Commissioner of Commercial Taxes. According to the administrative policy of the Tamilnadu State Government, Commercial Taxes Check posts are static locations where inter-State movement of vehicles are monitored
It has come to the notice of the Reserve Bank of India that an app (application) is doing rounds on What’s App purportedly to facilitate checking of balance in customers’ bank accounts. The application has an RBI logo with the title ‘All Bank Balance Enquiry No’ and has listed several banks with either a mobile number or call centre number.
On the one hand the authorities want us to report any mischief occurred in the Company and on the other hand they are striking off various clauses from our reports through which we could report POSSIBLE FRAUD circumstances, which can become “ACTUAL FRAUD” ingredients later in future.
India currently has a dual system of taxation of goods and services, which is quite different from dual GST. Taxes on goods are described as VAT at both Central and State level. It has adopted value added tax principle with input tax credit mechanism for taxation of goods and services, respectively, with limited cross-levy set-off. The present tax structure can best be described by the following chart:
A Company is a separate legal entity different from its members. So, its affairs are generally done by Board of Directors. The Board of directors provides a road map within its limited power for the progress of a Company. Certain powers are controlled by the boards after getting consent of the company at their general meeting.
