Whether assessee’s purchase of its own shares, which was not in accordance with sec.77A of the Companies Act, would amount to dividends within the meaning of sec.2(22)(d) or 2(22)(a), and consequently, liable for tax u/s. 115-O in the hands of the assessee company. Whether the company had failed to remit the taxes within the stipulated period, the company was ‘deemed to be an assessee in default’, u/s. 115-Q. W
A day after Finance Minister Nirmala Sitharaman unveiled a Rs 1.7 lakh crore economic welfare package for the poor in the backdrop of the coronavius pandemic, the Reserve Bank of India (RBI) Governor Shaktikanta Das has announced a press conference at 10 am on March 27. Beginning March 25, for a period of three weeks, […]
Note: This blog is specifically for students who take virtual classes. Blog explains What is Virtual Learning, Emerging Virtual Learning, How Virtual Learning is effective for students and impact of Virtual Learning on students. 1. What is virtual learning? Ans: Virtual learning in layman language refers to learning over an online platform where internet connectivity […]
LLP Settlement Scheme, 2020 is applicable only for Form -3, Form 4, Form 8 and Form 11 under LLP Act. The defaulting LLPs are permitted to file belated documents which were due for filling till October 31, 2019 in accordance with provisions of this scheme.
Returns or intimations to be submitted by Non Banking Financial Companies to RBI / Compliance by Non Banking Financial Companies under RBI Regulations The Non-Banking Financial Companies (NBFCs) are required to submit various returns to the Reserve Bank of India w.r.t their deposit acceptance, prudential norms compliance, ALM etc. There are different types of NBFCs […]
Below mentioned are the general FAQ’s regarding form INC-20A. (Commencement of Business Certificate) 1. Who is required to file form INC – 20A? Ans: As per Companies (Amendment) Ordinance, 2018, all the Companies registered in India and having a share capital is required to obtain commencement of business certificate before commencing any business or exercising […]
As the financial year is coming to a close, bank branch audit is expected to commence shortly. There may be delays due to the spread of Corona Virus as the SEBI has extended the due date of filing of reports by a month. However, it is important for the auditors to prepare for the audits […]
Children attend school unaware of things going in and around them, with a belief that they would get to know at school from their teacher the things that are going around them. But to their fate they are just taught what is in their books and that they need to excel in their book knowledge […]
We all are aware (or may be some of us are already fed up) with the news of CoVID-19 which is pandemic and led to thousands death tolls around world with Italy the most affected country. Likewise CoVID-19 has reached in India through residents who have visited and/or returned from affected countries. In India, the […]
Cabinet approves INR 48,042 Crore package to boost Electronic Components manufacturing John F Kennedy famously quoted “Use two brush strokes to write the word ‘crisis.’ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger–but recognize the opportunity.” At the current level of dependency on China from the raw materials to the […]
