However, registration process under section 80G has also been amended with similar effect as that of section 12AB & section 10(23C)
In attempts to cope up increasing demand to reduce tax rates as well as current Government’s commitment to lower tax burden on not so-rich tax payers, various provisions are introduced during the recent years, to name a few – Sections 115BA, 115BAA, 115BAB, 115BAC and 115BAD. These sections intend to lower tax burden on taxpayers […]
All of us are well aware of TDS (Tax Deduction at Source) , wherein Buyer of goods or service has an obligation to withhold the Tax and make the remaining amount to seller of Goods and service. In another way, TCS (Tax Collected at source) will operate. Here, Seller of goods shall collect the tax […]
In such situation, persons carrying on business being individual, HUF or partnership firm (other than LLP) have option to opt for presumptive taxation under section 44AD of the Income Tax Act, 1961. Accordingly, it is expected that voluminous income tax returns will be filed under this section for FY 2019-20 (AY 2020-21).
Draft Specimen of Consent letter to be appointed as a Secretarial Auditor Date: ………… To, The Board of Directors, Company Name…………. Address…………………… Sub: Consent letter Dear Sir(s), We/I, ……………………., a firm of Company Secretary(ies) in whole time in practice, do hereby give(s) our/my consent to be appointed as Secretarial Auditor of your company u/s 204 […]
The banks and Non-Banking Financial Institutions form a strong backbone of our economy however, they are still not in reach of people requiring funds specially those of living in rural areas or are lack of requisite documentation like Income Tax return and the like. Therefore, the Government of India came up with the concept of […]
RELAXATIONS IN HOLDING OF ANNUAL GENERAL MEETING THROUGH VIDEO CONFERENCING OR OTHER AUDIO-VISUAL MEANS: Ministry of Corporate Affairs has given relaxations to Companies to conduct the meeting through Video Conferencing or other audio-visual means vide General Circular No. 20/2020 dated May 05, 2020.: Governing provision for Annual General Meeting of the Companies Act, 2013 including […]
Amid wide spread novel corona virus pandemic, the Government of India introduced a new phase of Ease of Doing Business Reforms relating to easy registration of property, fast disposal of commercial disputes and simpler tax regime for making India one of the easiest, speedy and reliable economy to do business under Atmanirbhar Bharat Abhiyan with […]
BOARD MINUTES [Section 118 of the Companies Act, 2013 Read with Rule 3 of the Companies (Meetings of Board and its Power) Rules, 2014] A Company from incorporation to closing of business is guided by the provisions of the Companies Act, 2013 and related rules, hence evidently, minutes are also governed by the Companies Act, 2013. […]
Introduction With the emergence of ideas, more & more people are thinking to do something of their own like running a startup or business etc., for that having a separate legal entity is like “Cherry on the cake” these days. Many options are there to run a business like registering it as a Sole proprietorship, […]
