While running business, whenever companies are short of capital and where there is a need to enhance the growth and to increase the capital, the simplest way is company borrows money from financial institutions or banks keeping its security as collateral. In this event charge is created for securing loans or debentures by way of […]
Criteria for Reservation of name Before and After Amendment made MCA with effect from 23.02.2020 Reservation of Name of Company : As per the provisions of the Sub-Section (4) and (5) of Section 4 of the Companies Act, 2013, read with Companies (Incorporation) Rules, 2014, as amended vide Companies (Incorporation) Amendment Rules, 2020 BEFORE AMENDMENT […]
The Ministry of Corporate Affairs vide its General Circular No. 14/2020 dated 8th April, 2020 has clarified that the companies are allowed to conduct Extra Ordinary General Meeting (EGM) for passing ordinary and special resolutions of urgent nature requiring approval of members (except items of ordinary business and items where any person has a right […]
Staying motivated, retaining work-life balance and video conference etiquette are just some of the challenges during work from home environment. Few tips listed below; 1. Work out to work well, Meditation or focus power; Start 10 minutes a day and move up to 30 minutes but do it on daily to see results in 2-3 […]
Whether Provisions of Section 68 are applicable in case of sales receipt shown in trading and profit and loss account? It has been observed that while passing an order for scrutiny assessment for cash deposited by the assessee during demonetization period, various assessing officers have made addition under various sections of the Income Tax Act, […]
There is a change in the provisions for determining residential status, as per the amendment in Income tax act. The general rule will remain as same i.e. any person who is in India for more than 182 days will be treated as resident in India. OR, if he was in India for 60 days or more […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No 137/07/2020-GST dated 13th April 2020, with respect to certain challenges faced by the registered persons in implementation of provisions of GST Laws for the notifications issued pursuant to outbreak of COVID -19. Circular No.136/06/2020-GST, dated 03.04.2020 was been issued to clarify doubts […]
The COVID-19 epidemic which has affected almost entire world has been declared as ‘Pandemic’ by the World Health Organization (WHO). The effect of Covid-19 is so severe that almost entire world is now facing lockdown and everywhere it is encouraged to stay at home and avoid travelling and social distancing is the only known way […]
What is admissible evidence? The admissible evidence is any report, declaration, or substantial proof utilized in an official courtroom. The evidence is commonly acquainted with an appointed authority or a jury to demonstrate a point or component for a situation. Criminal Law: In criminal law, the proof is utilized to demonstrate a respondent’s blame past a sensible uncertainty. Civil-Law: in civil […]
Any amount paid to Director which is in the nature of employment contract is not liable for payment of GST, whereas any amount paid to Directors who are not on the payroll of the company will be liable for Reverse Charge Mechanism.
