"15 April 2021" Archive - Page 3

All about FSSAI Annual Returns

The Food Safety and Standard Authority of India (FSSAI) provides for securing a food license as one of the most essential measures for inaugurating a food industry. After receiving a food/FSSAI license, a business can be inaugurated unobstructedly and without any legitimate complexity....

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Posted Under: Corporate Law |

Facility Management Industry- Key Risk Areas

The Facility Management (FM) industry is borne out as the means of providing maintenance support, user management and project management. It has grown dramatically over the past two decades, owing to the major urbanization and industrialization....

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Posted Under: Corporate Law |

Still I Rise – My journey of becoming a Chartered Accountant

Well, every Chartered Accountant leaves behind a story to Inspire. I leave similar footprints. As I thoughtfully travel into the past; Though I didn’t have a normal childhood, I  feel blessed that I had my basic physical necessities like food, clothing, shelter met. I was one of those kids who failed in 4th standard hindi […]...

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Posted Under: Corporate Law |

Board Resolution to file Form CFSS 2020

CERTIFIED TRUE COPY OF RESOLUTION PASSED IN THE MEETING OF BOARD OF DIRECTORS OF (Name of the Company) HELD ON (Day), (Date) AT THE REGISTERED OFFICE AT (Address) AT 11.00 A.M. Authorisation to file CFSS-2020 Chairman informed the board that Ministry of Corporate Affairs vide General Circular No. 12/2020 dated 30/03/2020 introduced Compan...

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Posted Under: Corporate Law |

Companies Fresh Start Scheme, 2020 – Period, Immunity, Form & Applicability

Ministry of Corporate Affairs (‘MCA’) has introduced a scheme known as Companies Fresh Start Scheme (‘Scheme’) on 30th March, 2020 pursuant to General Circular No. 12/2020 in order to facilitate defaulting Companies by enabling them to file belated returns/documents that are required to be filed on MCA 21 electronic registry witho...

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Posted Under: Corporate Law |

Changes in Charitable Trust, NGO, Society or Institutions from 01.04.2021

All Trust, Society, NGO’s Do before 30.06.2021  This article focus on major changes brought in by Finance Act 2020 replace section 12AA into 12AB and consequential change sin Section in section 10(23C) as well as 80G. Due to Covid-19 pandemic CBDT has decided to defer the implementation of new procedure for approval/registration from 1...

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Posted Under: Corporate Law |

In absence of any accrual of income TDS is not deductible

Toyota Kirloskar Motor (P) Ltd. Vs Income Tax Officer (Karnataka High Court)

Toyota Kirloskar Motor (P) Ltd. Vs ITO (Karnataka High Court) The Supreme Court in SHOORJI VALLABH DAS supra has held that income tax is a levy on income and the Act takes into account two points of time at which the liability to tax is attracted i.e., accrual of income or its receipt but substance […]...

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Demystifying Pivot Tables in Excel with Examples – Part 1

What is a Pivot table? Table in Excel is a conventional form where we have the rows and columns of the data as in raw form with a little scope such as filter, sort ,etc. There is no scope for turning down the data into meaningful insights and summary. ‘Pivot’ means to turn or change […]...

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Posted Under: Corporate Law |

Company Vs. Partnership Firm

Company A company is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. It is governed by Indian Companies Act 2013. Minimum number of members required is 2 in case of private limited company and maximum is 200. Audit in case of companies is […]...

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Posted Under: Corporate Law |

ITAT deletes addition made for non-production of audited books

ITO Vs Richmond Vivek Laboratories P Ltd (ITAT Hyderabad)

ITO Vs Richmond Vivek Laboratories P Ltd (ITAT Hyderabad) Learned CIT (DR) vehemently contended during the course of hearing that the CIT (A) has erred in law and on facts in deleting the impugned misc. expenditure disallowance of Rs.1,92,38,312/- despite the fact that the assessee had failed to prove the same by way of filing […]...

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