Loan to Managing Director/Whole–time Director by the Company (Public and Private Company) Under Companies Act, 2013. Background: Section 185(1) of the Companies Act,2013 No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by,— (a) […]
A. PAN in Returns or Certificates or Correspondence Every person shall quote his permanent account number (PAN) in all his returns or challans or correspondence with any income-tax authority. Other than this, every person shall quote his PAN in all documents pertaining to the transactions specified in rule 114B and given in the table below: […]
Financial year and First Annual General Meeting (AGM) of newly incorporated Company. Under the Companies Act, 1956 (‘Old Act’), it was open to the Companies to determine any period as their financial year (for example- 1st April to 31st March or 01st January to 31st December). However, the Companies Act 2013 (‘New Act’) did not give this leverage as New Act […]
Clearing up misconceptions about income tax for salaried individuals. Get answers to common doubts and understand the process of filing tax returns.
Just start – don’t wait for right opportunity – create it. There are numerous ideas which are comes in our mind in a single day. Out of that two to three ideas are such that we should start work on it. But we shouldn’t. Why? Following are some of the myths / reasons going in […]
In a major relief for Tata Education and Development Trust, the Income Tax Appellate Tribunal (ITAT) bench consisting of Justices PP Bhatt, President, ITAT, on 24th July ruled in favour of the trust in their appeal against commissioner income tax (CIT) appeal order wherein a demand of more than Rs.220 crore was levied by the tax department .ITAT also stayed the matter of that demand without any minimum pay.
FLA is Return on Foreign Liabilities and Assets which is governed by FEMA, 1999. The RBI has started a web-based system online reporting portal – Foreign Liabilities and Assets Information Reporting (FLAIR) for submission of foreign liabilities and assets (FLA) return. Applicability of FLA return Following entities are required to file for FLA return: > […]
RELAXATION FOR COMPLYING WITH THE REQUIREMENT OF PRE-EXAMINATION TEST AND ONE DAY ORIENTATION PROGRAMME FOR ENROLLMENT TO COMPANY SECRETARIES EXAMINATIONS, DECEMBER 2020 SESSION (IN VIEW OF UNPRECEDENTED CRISIS IN THE COUNTRY DUE TO CORONA VIRUS OUTBREAK)
Granting One More Attempt to Executive Progrmme (2012 old Syllabus) and Professional Programme (2012 Old Syllabus) Students in December, 2020 Session of Examinations. The Council approved to grant one more attempt to Executive Programme (2012 old syllabus) and Professional Programme (2012 old syllabus) students in December, 2020 session of Examination.
