FEMA regulates, prohibits and restricts acceptance of deposits by Person Resident in India from a Person Resident outside India (PROI) and prescribes maintenance of accounts in India by PROI. This article provides an insight to the same.
Tax Audit under Section 44AB of Income Tax Act A tax audit is an examination of an organization’s or individual’s tax return to verify that financial information is being reported correctly. Tax Audit is attracted on an Individual or an organisation on fulfilling the required conditions of the Income Tax act. 1. What are the […]
M/s. Gati Kintetsu Express Pvt. Ltd. Vs Commissioner Commercial Tax of Madhya Pradesh & Ors. (Supreme Court of India) Having regard to the facts of the case, more particularly when the petitioner has already paid the tax and insofar as other dues are concerned, which are being demanded, a dispute is raised in this special leave petition in […]
As per the provision of companies act 2013 along with the secretarial standard as issued by ICSI the Company has to conduct its first Board Meeting within 30 days of incorporation of Company for discussing the relevant factors, like- to discuss about certificate of incorporation of Company as issued by ROC, prospective working of the company and other factors which are relevant for the company.
Background: SEBI formed a committee on corporate governance in June 2017 under the Chairmanship of Mr. Uday Kotak with a view to enhancing the standards of corporate governance of listed entities in India. The committee comprised of stalwarts from diverse fields viz. the government, industry, professional bodies, stock exchanges, academicians, lawyers, proxy advisors, etc. The committee […]
Central Goods and Service Tax (Amendment) Act, 2018 – which amends CGST Act, 2017. The Act provides for certain provisions for smooth transition of existing taxpayers to new goods and services tax regime. However, the new tax regime had faced certain difficulties. One of the major inconveniences caused to the taxpayers, especially small and medium enterprises,
In these article we will see the FAQ’s related to the Final Return and how to file the GSTR-10 (Final Return) online step by step: Q.1 What is Form GSTR-10? Ans. A taxable person whose GST registration is cancelled or surrendered has to file a return in Form GSTR-10 called as Final Return. This is statement […]
BJP economic Cell (Rajasthan), State Co-Convener CA R P Vijay & CA Sachin Kumar Jain have requested Honble FM to extend due date for submission of Tax Audit Reports and Income Tax Returns from 30 September, 2018 to 31 October, 2018 in the case of corporate assesses and where tax audit is applicable so that […]
This article contains provisions from IEPF Rues, 2016 as amended till date related to CLAIM SHARES TRANSFERRED TO IEPF AUTHORITY
Background There are 3 general methods of Tax collection: 1. Tax deducted at Source (TDS) / Tax Collected at Source (TCS) 2. Advance Tax 3. Self Assessment Tax Generally Assessee pays tax at the end of Assessment Year (AY) for the Previous Year (PY), due to this practice collection & revenue income of Government is […]
