Copy of Financial Statement (defined under section 2(40) of the Companies Act, 2013 (‘the Act’) shall be sent to persons as envisaged under Section 136 of the Act. Section 136 also tells about the mode, time limit and other additional compliance related to same. This articles briefly elaborates Section 136 of the Act. Section 136, […]
In the well known case of Deepak Kochhar, the husband of ex-ICICI Bank CEO Chanda Kochhar Bombay High Court has passed an order that the Income Tax (IT) Assessment Order pertaining to the Assessment Year 2012-13 which was passed against Deepak Kochhar was put on hold and further, the High Court ordered to move to the First Appellate Authority challenging the Income Tax (IT) Assessment Order and till such remedy is availed by the appellant the Income Tax (IT) Assessment Order will be put on stay.
According to MCA as part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs has notified & deployed a new Web Form Christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form. The Ministry of Corporate Affairs is replacing the existing SPICe (Simplified Performa for Incorporating Company Electronically) form with a […]
The new SPICe+ form provides even more services in a single form than the previous SPICe form. This might result in increase in company formations and lesser difficulties along with better compliance. The Ministry has taken a prudent decision and this can result in even quicker company incorporations.
Checklist for issue of ESOP by private company As per 2(37) ’employees stock option’ means the option given to the directors, officers or employees of a company or of its holding company or subsidiary company or companies, if any, which gives such directors, officers or employees, the benefit or right to purchase, or to subscribe […]
Whether a government company can be subjected to insolvency under IBC The NCLT Mumbai Bench has, in the case of Harsh Pinge Vs Hindustan Antibiotics Limited, dismissed the application by operational Creditor under Section 9 of the IBC, on the ground that the Corporate Debtor i.e. Hindustan Antiboitics Ltd being a Government Company, is an instrumentality […]
Union Budget 2020-21 has undoubtedly paved the way for start ups to retain and recruit the human talent by issuing ESOP in the initial years when most of them face liquidity crunch. The Union budget 2020-21 speech states in the words of honourable finance minister Nirmala Sitharaman, “I propose to ease the burden of taxation […]
Opinion on Ladhak Registration Post Reorganisation of State The Central Board of Indirect Taxes and Customs (CBIC) has reallocated the New Goods and Services Tax Identification Number ( GSTIN ) to Taxpayers of Union Territory of Ladakh. In a Statement issued by CBIC said that, New GSTINs are reallocated to active existing taxpayers registered under […]
We are fifth largest developing economy in the world and just left behind UK and France few days back. We are second largest country in the world in case of population. We have largest young skilled workforce in the world. For sustainable development of a country a sound and perfect, protected system of banking is […]
Veritas (India) Ltd. Vs ACIT (ITAT Mumbai) Conclusion: Assessee had established identity of investors and submitted documents to establish creditworthiness and the certificate issued by the Firm of Accountants for proving the movement of funds from ultimate investors to the foreign companies which establish genuineness of transactions thus, assessee had discharged initial burden placed upon […]
