Preference Share with reference to any Company limited by shares means that part of the issued share capital which carries or would carry preferential right with respect to:- Payment of dividend either fixed or calculated at fixed rate. Repayment in case of winding-up or repayment of capital. Section 55 of Companies Act, 2013 read with […]
The attention of Institute of Chartered Accountants of India (ICAI) has been drawn to various media reports highlighting the irregularity happened in Punjab National Bank (PNB) revealing that the Bank has detected a $1.77 billion (about Rs.11,400 crore) wrongdoing where a Jeweller Nirav Modi allegedly acquired fraudulent Letters of Undertaking (LOU) from a branch of […]
The hot topic of these days is PNB scam. Everyone is sharing on social platforms that PNB is involved in the fraud of Rs. 11,500 crores approx. but everyone is not aware about the way it has happened.
The new single revised return filing process envisages preparation of invoice-wise sales and purchase annexure. For this dealer is required to visit to MGSTD Web-site and download the return template form. The new process of filing of single revised returns for the periods starting from Apr 2016 is being explained in the latter part of this Trade Circular.
It was proposed in Finance Act 2016. It is a part of three-tiered transfer pricing documentation structure which must be maintained and produced before the income-tax authorities along with a master file (contains standardized information relevant for all Multinational enterprise group members) and a local file (refers specifically to material transactions of the local taxpayer).
It has been widely reported that multinational corporations resort to base erosion and profit sharing (BEPS) techniques to shift their profit to tax havens or nations with lower tax incidence.
