Redemption of Mutual Fund Unit vs. Switching in Mutual Funds? In the first week of July, the capital market regulator of India SEBI has provided a clarification finally ending speculations over whether any stamp duty shall be payable on the redemption of mutual funds. It asserted that no stamp duty shall be eligible on the redemption of mutual fund […]
Expenditure on Scientific Research And Its’ Treatment Under Income Tax Act, 1961 Dear friends, we are going through a very turbulent phase in which we are facing unpresented threat of COVID-19 pandemic, declining pace of economy, lack of foreign reserves and new threat of India -China war position at our borders. The government has shown […]
One of the GST objectives is to ensure the seamless flow of the credit & avoiding the cascading effect. The success of ITC is directly proportionate to the success of GST and equally, the business pricing, hence any detriment caused by the ITC would directly impact the business. The ITC claim is the area where […]
GST Liability on High Seas Sales (HSS) Introduction/Definition: High sea sales is not defined as such in GST law, however, as per normal parlance, it simply means sale/ purchase of goods during the importation of goods before the it reaches into Indian territories. Taxability of HSS in India: Taxability of HSS under GST can be […]
What is Partnership Firm/LLP? A partnership firm is an organization which is formed with two or more persons to run a business with a view to earn profit. Each member of such a group is known as partner and collectively known as partnership firm. These firms are governed by the Indian Partnership Act, 1932. A […]
NGOs stand for non-governmental organisations. In a general term, a non- governmental organisation is the one that operates independently of any government, typically one whose purpose is to address a social or political issue. For example, an NGO taking initiative by providing medical and educations awareness facilities in rural areas which benefit the society and […]
Procedure for Shifting of Registered Office Outside The Local Limits of The City, Town or Village Where it is Presently Situated within The Same State under The Jurisdiction of the Same Registrar of Companies. Step 1. Hold a Board Meeting 1. To pass a resolution, for shifting the registered office of the company to another […]
Cross Border Mergers Cross border mergers are increasing significantly with the shrinking of the globe. Moreover, India is gradually climbing the ease of business rankings and is becoming a favored business destination. Such a Conducive economic environment has spurred the growth of cross border mergers. MEANING OF CROSS BRODER MERGER & ACQUISITION A cross border […]
For alteration of any of the clauses of memorandum of association, except the capital clause, consent of members by way of special resolution is required. However, in case of alteration of authorised share capital, consent of members by way of ordinary resolution as stated in section 61 is required. Procedure for Change of Memorandum of […]
Q 1. What is the difference between Insolvency and Bankruptcy? An entity (individual, or a company) becomes insolvent when they are unable to pay back their lenders on time. Simply, when the assets fall short to pay off the existing liabilities. Whereas, Bankruptcy is a legal declaration of one’s inability to pay their debts. On filing of […]
