Meaning Name Lending means when one lends his/her name and signature to be on records of the Company while that person is not on job in reality in such Company. Consequences of Name Lending 1. Brings Disgrace to the Profession: Malpractices such as name lending destroys the Brand Image of our Prestigious Institute of Companies […]
Companies (Indian Accounting Standards) Amendment Rules, 2020* The COVID 19 has not only affected health of people across the globe, but it also caused severe disturbance in global economic environment which consequentially created an impact on financial statements and reporting. Keeping in view all these drastic changes MCA on July 24, 2020, notified the Companies […]
The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman, on March 17, 2020 and is passed by Lok-Sabha on 19th September, 2020. Further, Rajya Sabha passed the bill on 22nd September, 2020 and key amendments are highlighted below: Changes to offences: The Bill makes three […]
Wire fraud, known since 1872 gets mentioned for various crimes committed by all including many Indians in the United States of America. I would like to quote from the United States Department of Justice archives and define it as ‘The elements of wire fraud under Section 1343 directly parallel those of the mail fraud statute, […]
Computation of income tax liability in the hands of the land owners upon execution of a development agreement has been a matter of litigation for ages. The injustice is caused to the land owners due to capital gain tax liability arising on the date of execution of the DA and handing over possession of the land to the Developer.
In re Vishv Enterprise (GST AAR Gujarat) Whether services of providing Para-medical Administrative, Technical and other Staff on Outsource basis to Seth L.G. General Municipal Hospital are exempted or not? As no evidence has been provided by applicant to establish that Seth L.G. General Hospital falls under definition of ‘Central Government’ or ‘State Government’ or […]
Government has banned certain apps in June 2020 and September 2020 on concerns of security and to ensure safety and sovereignty of the Indian cyberspace. Many apps are available on each of the popular play store namely Google Play Store and Apple Store including competing apps with similar functionalities.
Section 206C of the Income Tax Act provides for the collection of tax at source (TCS) on the business of trading in alcohol, liquor, forest produce, scrap, etc. In order to widen and deepen the tax net, two new sub-sections (1G) and (1H) to section 206C has been inserted by the Finance Act 2020 with effect […]
Apeejay Infralogistics challenges denial of cost recovery charge (CRC) waiver by Customs for ICDs/CFSs. Get insights on regulatory disputes and cargo handling.
Industrial growth depends on a number of factors including structural, external, fiscal and industrial factors. The moderation in India’s industrial growth coincides with deceleration in growth of global output.
