With 27 public sector banks, including the second largest PNB, being merged and reduced to 12, almost every other individual who has a savings account or fixed deposit with a public sector bank is likely to be impacted. The finance minister in a press conference held in August, 2019 said that the 27 public sector […]
We often come across a situation where we are asked to leave our comfort zone and we are hesitant about it . We prefer to live in a protected shell of our comfort zone , but its time to break our shell and emerge stronger and survive longer . The lockdown itself is something out […]
A Non-Banking Financial Companies (NBFCs) are financial institutions incorporated under the companies act 2013, meant for ensuring services ranging from loans to advances, acquisition of shares/stocks/bonds/debentures/securities, which are issued by Government or local authority or other marketable securities of similar nature involved in leasing, hire-purchase and insurance business. The main objective of this type of company is […]
How is actionable claim defined under the GST Act? Reference has been drawn to the Transfer of Property Act, 1882. Section 2(1) of the CGST Act, 2017 defines actionable claim as: ‘actionable claim shall have the same meaning as assigned to it in section 3 of the Transfer of Property Act, 1882’ Section 3 of […]
Benefit for all Defaulting/ Inactive companies- CFSS-2020 (Validity: 01 April, 2020 to 30 Sept, 2020) MCA vide circular no 12/2020 dated 30.03.2020 has introduced benefits for Defaulting Companies to file their belated documents in the MCA registry without late / additional fee. inactive Companies to get declared itself as ” Dormant Company’ by filing a […]
Due to COVID -19 all World is in locked down situation. It forces everyone to make use of digital techniques and tools as much as possible. Just think for a minute, if we didn’t had such advanced digital techniques and tools where we would stand. Currently maximum people are working from home except emergency staff. […]
Now question arises whether credit of input tax paid on expenses made to avoid spread of COVID-19 disease would be eligible or not and whether if the taxpayer is an exporter or supplier to SEZ unit, whether he will be eligible for refund under GST Act or not.
Step-1 – Convene and hold a Board meeting -Notice shall be given at least 7 days before the meeting -Required Resolutions must be passed at the Board Meeting. -To Fix time, date and venue for holding a general meeting of the company for passing a special resolution. -Approve notice, agenda and explanatory statement to be […]
While the governments across the globe are battling the novel Coronavirus, the Ministry of Finance in its recent Notification No. 20/2020– Customs dated 9th April, 2020 has lifted (i) customs duty; and (ii) whole of health cess charged on the following below-mentioned articles until 30th September 2020: Sr. No. Description of Goods Chapters Standard Rate […]
Taxation of Periodic Interest income earned from investments in bonds and Debentures :- When Investments is made in Listed /Unlisted Securities being Bonds and Debentures in a currency other than Indian Currency by the Non Residents. FAQs on above – 1) What is the treatment of interest income earned on bonds and Debentures subscribed in […]
