♣ Secondary Adjustment has been inserted vide section 92CE by the Finance Act, 2017, in order to align TP provisions with OECD TP Guidelines and “international best practices”. ♣ Secondary adjustment means an adjustment in the books of accounts of the taxpayer and its associated enterprise (‘AE’) to reflect that the actual allocation of profits […]
A special sign established in 1961 for certifying foreign documents is known as Apostille. In India apostille of documents is administered by The Ministry of External Affairs (MEA) through designated centres. India, since 2005, is a member of the Hague Convention of October 5, 1961, that abolished the requirement of legalization of foreign public documents. […]
A note said to be written by Shri. V G Siddhartha (VGS) of CCD is doing the rounds. Among others it was mentioned in the note about the attachment of Coffee day shares by the Income Tax department. The authenticity of the note is not known and the signature does not tally with Shri VGS’s signature as available in his annual reports
MCA has issued Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019. Provisions of the Law: 1. WEB Service- DIR-3 KYC: Web based e-form DIR-3 KYC shall be used by the DIN holder who has submitted DIR-3 KYC e-form in the previous financial year and no update is required in his details. 2. E-form DIR-3 […]
A. Which entities are required to submit the FLA Return Ans. The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted by the following entities which have Received Foreign Direct Investment (FDI) made FDI Abroad In the previous year(s) including the current year B. Whether all the Companies received foreign investment […]
The Board’s Report of One Person Company shall be prepared based on the STANDALONE FINANCIAL STATEMENT of the company, which shall be in abridged form and contain the following:- Dear Members, XYZ PRIVATE LIMITED Your Directors have pleasure in presenting the (No. of AGM) Annual Report together with the Audited Statement of Accounts of your Company for […]
As per Section 52 of the Insolvency and Bankruptcy Code, 2016 (Code), a secured creditor may either (a) Relinquish its security interest to the liquidation estate and receive proceeds from the sale of the assets of the Corporate Debtor by the liquidator thereof or, (b) Realise the security interest so provided in such manner as has been specified in the Code.
In 36th GST Council Meeting the GST rates related to supply of few goods and services were proposed to change. Even extension of due dates were recommended.
In March 2018, under GST law, an Advance Ruling was pronounced, in the matter of ‘ROD Retail Private Limited‘, [2018-VIL-09-AAR] on the taxability of sale from Duty Free Shops under GST Law. In this case, considering the definition of ‘export of goods’ (which means taking goods out of India to a place outside India) and […]
What is a Shareholder’s Agreement? A Shareholder’s Agreement (SHA) is contractual arrangement inter-se the shareholders of a company and has gained huge popularity in a way that these agreements are specifically drafted to provide specific rights, impose definite restrictions over and above those provided by the Companies Act, 2013 (2013 Act). SHA is a private […]
