Treatment of goodwill: ♣ Accounting Standard 14 (Accounting for Amalgamation) allows amortization of goodwill, acquired in a business acquisition, over a period not exceeding 5 years unless a longer period can be justified. ♣ Ind AS 103 (Business Combinations) requires amortization of goodwill over its useful life if the same is finite. But if the […]
The purpose of this article is to get an overlook about the direction by Board to Registered intermediaries (RI) to upload the KYC records with Central KYC Records Registry (CKYCR) as well as to get deep understanding about the entity details and documents need to be submitted on Central KYC Records Registry (CKYCR) by Legal […]
1. PRESS RELEASE No. 58/2020-21 – 10.02.2021 CCI approves acquisition by Siemens Healthineers Holding I Gmb (SHS GmbH) of Varian Medical Systems, Inc. (Varian) under Section 31(1) of the Competition Act, 2002, today. The proposed combination relates to the acquisition of 100% of shares of common stock and sole control of Varian, by SHS GmbH, […]
Earlier under the Indian Companies Act, 1913 there was no concept of minimum number of board meetings but Companies Act, 1956 brought in the concept of minimum number of board meetings. The purpose for having statutory backing for minimum number of board meeting was to avoid infrequency and irregularity of board meeting because directors are […]
Refund is very important term under the GST for the person who is eligible to claim the refund and for the GST Authority who issues the refund order. Both persons i.e. who claim the refund and who issues refund should have fully conversant with the provisions and law in regard of Refund under the GST. […]
Unclaimed Dividend Recovery of Reliance from IEPF: Why Is It a Good Option? ‘Rs. 10000 invested in Reliance Industries Limited in 1977 during its IPO would have made the shareholder a Crorepati today.’ No! this is not a joke. This information was revealed by Reliance group’s Managing Director and One of the Richest Person in […]
Dear Sir, I am finding, this is right time for a wakeup call because last month of Financial Year is crucial as 11th April, 2021 & 20th April 2021 is last day for GST Books closing and for your business if any Purchases left or sales left then it goes to next year and will […]
Barnala Steel Industries Ltd Vs ACIT (ITAT Delhi) Consolidated Issue of Notice In Search Case For Different Assessment Years Makes Entire Assessment Order Invalid We have heard both the parties and perused all the relevant material on record. From the perusal of the notice issued u/s 153A r.w.s. 153C/143(2) of the Act, it is a […]
Non Banking Finance Company plays a vital role in the Indian economy as it provides loan to > Start-ups as business loan > Salaried employees as Personal loan to fulfil their essential requirements > Farmers as Agriculture Loan > People in need of Assets as Assets Finance Loan and etc. To set up a Non […]
No bar on investigation by different officers independently investigating different matters without any overlapping The Hon’ble Punjab & Haryana High Court in Kaushal Kumar Mishra vs. Addl Director General & anr [CWP-21387-2020 (O&M), decided on February 12, 2021] dismissed the petition and refused to interfere with the investigations undertaken by the competent authorities against the […]
