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The department has been able to detect numerous dealers, during recent years, who in terms of provisions of Section 40A of the DVAT Act, 2004 have entered into an , arrangement to defeat the purposes of the DVAT Act or any provision of the Act, by way of claiming refunds, on Input Tax Credit to which they are not entitled or by providing fictitious ITC
Corporate fraud is a major problem that is increasing both in its frequency and severity. Research evidence has shown that growing number of frauds have undermined the integrity of financial reports, contributed to substantial economic losses, and eroded investors’ confidence regarding the usefulness and reliability of financial statements. The increasing rate of whitecollar crimes demands […]
The terms merger and amalgamation have not been defined in the Companies Act, 1956 (hereinafter referred to as the Act) though this voluminous piece of legislation contains 69 definitions in Section 2. The terms merger and amalgamation are synonyms and the term ‘amalgamation’, as per Concise Oxford Dictionary, Tenth Edition, means, ‘to combine or unite to form one organization […]
BACKGROUND: Company limited by shares can’t issue any preference shares which are irredeemable. A company limited by shares may, if so authorized by its articles, issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions as may be prescribed: […]
Government Company: means any Company in which not less than 51% (fifty one per cent). of the paid-up share capital is held by:- The Central Government, or Any State Government or Governments, or Partly by the Central Government and partly by one or more State Governments, or includes a Company which is a Subsidiary Company of such a Government Company;
A Company can be incorporated in two ways: 1. Incorporation through normal route 2. Incorporation under Integrated Incorporation form (IIF).
One of the reasons why India is a little behind USA is because the citizens of USA are taught the culture of savings and investments from their childhood. Investing is also a part of their school curriculum which manifests in them habit of investing.
The President shall be entitled to a monthly pay of ₹ 80,000/- (fixed) and other allowances as are admissible to a Government Servant in the Apex grade of ₹ 80,000 (fixed). (2) A Judicial Member and Technical Member shall be paid salary in the pay scale of ₹ 67000-79000/- (annual increment at 3%) and other allowances as are admissible to a Government Servant in Higher Administrative Grade of ₹ 67000-79000/-.
Courage is known as the strength to do anything without fear. Discovery of Sea routes, Space odyssey and Racing are examples of courage. People display varying levels of courage depending upon the stage of their age and growth. Some people are timid in their youth, but turn courageous later.
Friends, as you all are aware that if any loan or advance is given by any closely held company (Private Company) to: A shareholder who is having equal to or more than 10% of share capital in that company or; Any concern (ex. XYZ Pvt. Ltd.) in which such shareholder is having shareholding of equal […]
