In this Article we would be discussing about the Applicability of the new provisions as introduced by The Taxation Laws (Amendment) Act, 2019; the different Structure of Companies and the options available to them. A. Tax rates of company is broadly divided in two categories i.e. turnover based and conditional based from AY 2020-2021:
Please also refer the case JLC Electromet Pvt. Ltd. Vs ACIT (ITAT Jaipur). I’m trying to analyse only some of the provisions applicable, only for understanding purpose. As per Section 195 of Income Tax Act, any person who makes payment to non-resident by way of interest (except the interest as specified in Sections 194LB or […]
Shell company’ has neither been defined in the Companies Act, 1956 nor in the Companies Act, 2013. In Assam Co. India Ltd. Vs. Union of India, the Gauhati High Court has noted that there is no statutory definition of shell company, whether fiscal statutes or penal statutes. The High Court has attempted to define ‘shell […]
Several companies that are undergoing proceedings under the Insolvency and Bankruptcy Code (IBC) are also facing investigations by the Enforcement Directorate (ED) over alleged money laundering by their promoters. ED, which is an investigative arm of the finance ministry, has claimed that it could attach such assets under the Prevention of Money Laundering Act (PMLA).
The health insurance market is having a number of individual health insurance products. Each product has unique features and the insuring public may find it a challenge to choose an appropriate product. Therefore, with the following objectives, the Authority has decided to mandate all general and health insurers to offer the standard individual health insurance product:
In order to boost Digital payment in economy, Government take various move from Demonetization to Amending provision of Income Tax and GST. Along with Banking regulator move to drive NEFT transaction 24*7. Recently Finance minister Nirmala Sitharaman ji announced the exemption of Merchant Discount Rate(MDR) charges on the transactions done via UPI and RuPay modes. […]
Unadjusted part of mobilization advance received prior to July 01, 2017 held as taxable under GST The West Bengal AAAR vide its Order No. 11/WBAAAR/APPEAL/2019 dated 16.12.2019 uphold the advance ruling given by West Bengal AAR (Order No. 18/WBAAR/2019-20 dated 19.08.2019), wherein it was held that unadjusted part of mobilization advance received prior to July […]
MCA has vide notification no. G.S.R. 804(E) dated 01st December, 2019 introduced new rules called the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 for person eligible and willing to be appointed as an Independent Director. The rule states the compliances to be carried out before the appointment of independent director as well […]
Dear Professional brothers and sisters I have a thought in my heart that what is the definition of PRACTITIONER and what is his ‘ROLE IN BUSINESS SOCIETY”. So, I am preparing this article for dedicated to my professional brothers and sisters. Kindly read and think I am correct or not and kindly give your valuable […]
A couple of years back, the only option available to home buyers was to approach consumer court to proceed against the developer. The enactment of Insolvency and Bankruptcy Code (IBC) in 2016 strengthened the position of homebuyers by expanding the options for redressal of grievances. Initially, when IBC came into force there was no clarity […]
