"31 March 2020" Archive - Page 3

What are a Unilateral Contract and Mutual Contract?

A contract typically will be executed amid two parties who are legally qualified to enter and execute a contract. A contract once executed will be binding on the persons/companies who are parties to the contract. An executed contract can be unilateral or mutual contract based on the application of the terms and conditions of the […...

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Posted Under: Corporate Law |

Clubbing of Your Income with Income of your Spouse

There are certain occasions when the income of your spouse gets clubbed with your income. So, if you are planning to transfer any of your income or any asset to your spouse to avoid the associate tax on such income, hold on.  There are certain specified situations when the income of both the husband as […]...

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Posted Under: Corporate Law |

Spending of CSR funds for COVID-19

Various efforts are being made by the central and state governments to control the spread of COVID-19, commonly known as coronavirus. The task is tough and demands various measures to be taken simultaneously on war footing to control the virus from spreading and graduating from phase one to phase four. Phase four is considered to [&hellip...

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Posted Under: Corporate Law |

What is co-relation amid Master Service Agreement and Statement of Work in service industry?

In the service industry, the business deals amid the Supplier and the Customer will be effectuated via execution of a Master Service Agreement. Master Service Agreement (MSA) is the prime document amid the Supplier and the Customer establishing a legal business relationship amid the Supplier and the Customer in relation to supply of certa...

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Posted Under: Corporate Law |

Analysis of Companies Fresh Start Scheme, 2020 (CFSS-2020)

In order to consider the request and representation of various stake holder, the Government has come up with a new scheme called as COMPANIES FRESH START SCHEME, 2020 (CFSS-2020) for initial period of 6 months i.e. 01.04.2020 till 30.09.2020 vide its General Circular No.12/2020 on the 30th day of March, 2020....

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Posted Under: Corporate Law |

57 Technical Glitches and Issues of GSTN

In this article I have tried to compile some major technical glitches, errors, issues in GSTN. Hope few of them may be the reason why Mr. Nielkani was called for and to resolve them in time....

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Income tax calculator for salaried employees- F.Y. 2020-21

Article contains Income tax calculator for salaried employees for Financial Year (F.Y.) 2020-21 or Assessment Year (A.Y.) 2021-22 in Excel Format. As we begin the new financial year, there was a demand for extension of FY 2019-20 to June 30, 2020, owing to the COVID – 19 outbreaks. However, the Government has not announced any […...

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Posted Under: Corporate Law |

Companies Fresh Start Scheme, 2020 – A fresh start on a clean State

In order to provide relief to law abiding Companies, the Ministry of Corporate Affairs has introduced the Companies Fresh Start Scheme, 2020 [CFSS – 2020] on Monday, 30th March, 2020. CFSS – 2020 will certainly provide a noble opportunity to all companies to make good any previous filing defaults without paying any additional fees and...

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Posted Under: Corporate Law |

CBIC Clarification on GST refund related issues

Circular No. 135/05/2020-GST 31/03/2020

CBIC vide Circular No. 135/05/2020 – GST dated 31st March, 2020 issued Clarification on GST refund related issues which includes Bunching of refund claims across Financial Years, Refund of accumulated input tax credit (ITC) on account of reduction in GST Rate, Change in manner of refund of tax paid on supplies other than zero rated ...

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COVID -19 outbreak impact on GDP & various sectors in manufacturing /service industry

The virus outbreak has become one of the biggest threats to the global economy and financial markets. Being part of the global village India is not immune to the virus. The 21 days Lockdown is announced by PM all over the India on 24th March. While the Government of India, as well as State governments, […]...

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Posted Under: Corporate Law |

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