Every year July end due dates have one thing in common and that is ITR filing for the taxpayers whose accounts are not required to be audited. But this time around we are all locked up in our homes due to the COVID-19 pandemic and it’s implication being extension of compliance due dates. Thus, this […]
Article on Disallowance Of Employees’ Contribution To Provident Fund Or Superannuation Fund Or Gratuity Fund Or Any Other Fund For The Welfare Of Employees. Section 43B(b) r.w.s. 36(1)(va) of the Act.
Over View – ‘Consideration’ Consideration in GST is the basis for deciding upon the value of supply of goods or supply of services. Section 2(31) ‘consideration‘ in relation to the supply of goods or services or both includes–– (a) any payment made or to be made, whether in money or otherwise, in respect of, in […]
> New Definition of MSMEs: From a legal perspective, the definition of MSMEs as under Section 7 (1) of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) will be revised by raising the investment limit and while earlier, the Section 7(1) of the MSMED Act classified enterprises as micro, small and medium […]
Beyond the accounting sheet, employees are the asset of the organisation and like any asset, your people need to be invested in. Companies offers various benefits to the workers who offer their valuable expertise in the organisation. There is a way of EQUITY COMPENSATION for the employees who give their hard work and perspire for […]
Shares As per Section 2(84) of Companies Act, 2013, Share means Share in the share capital of a Company and Include stocks. A share certificate is a certificate issued by a company certifying that on the date the certificate is issued a certain person is the registered owner of shares in the company i.e. A […]
The world economy is evolving and quite complicated. With economies marching towards constant development through research, there are new opportunities along with unprecedented threats in the business environment. Banking failures and mortgage failures are few such examples of meltdowns. Stakeholders are concerned about strategies which manage financial risks. Implementation of proper risk management systems is […]
PAS-6 Reconciliation of Share Capital Audit Report (Half Yearly) 1. As per MCA notification dated 10th September, 2018 came into force on the 2nd day of October, 2018. In the Companies (Prospectus and Allotment of Securities) Rules, 2014, after rule 9, the following rule shall be inserted, namely: – (It is mandatory to for every […]
32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 115BAB explained RATES OF TAXES APPLICABLE TO ASSESSMENT YEAR 2020-2021 (FINANCIAL YEAR 2019-2020) A. INDIVIDUAL AND HINDU UNDIVIDED FAMILY a) Individual Below 60 years /HUF Particulars of Taxable income Rate a Income up to Rupees 2.50 […]
Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs) As per the RBI Notification DNBS (PD) CC.No.376/03.10.001/2013-14 and Notification No. DNBS(PD) 275/GM(AM)-2014 dated May 26, 2014 Prior approval of RBI is to be taken when there is change in management/ control of NBFC. After granting […]
