In accordance with the section 406(1) of the Companies Act, 2013, ‘Nidhi’ means a ‘company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit’. Therefore, we can say that a […]
As per Section 128 of the Companies Act, 2013 (Act), every company shall prepare and keep at its registered office books of account, other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of the affairs of the company, including that of its branch office or offices, if any, and explain the transactions effected both at the registered office and its branches and such books shall be kept on accrual basis and according to the double entry system of accounting.
State/ Union Territory Governments and State/ Union Territory Authorities to ensure that use of liquid oxygen is not allowed for any non-medical purpose and that all manufacturing units may maximise their production of liquid oxygen, and make it available to the Government for use for medical purposes only
And whereas, it has been considered necessary to restrict industrial usage of oxygen for ensuring availability of adequate and uninterrupted supply of medical oxygen across the country for management of COVID-19 patients and necessary order in this regard was issued on 22.04.2021 to restrict the use of industrial oxygen;
People generally refer hassle as an irritating inconvenience. And the taxpayers are facing a similar inconvenience to apprehend the applicability of the provisions of TDS on Purchase or TCS on Sale on a single transaction. Last year in Finance Act 2020, Government has introduced Sub-Section (1H) in Section 206C which provide for the collection of […]
The standard of fair and equitable treatment has been one of the most controversial clauses of bilateral investment treaties (BITs). This paper investigates the relationship between the minimum standard of treatment and the FET standard as well as when states began referring to the former in their BITs.
A merger is an agreement that unites two existing entities into a new company. The main motive of merger and acquisition is to expand the company, by either getting its market shares or by expanding new segments of the company.
Procedural lapses by NeAC- Good grounds of appeal against Faceless Assessment Order The first cycle of Faceless Assessment Scheme is about to be over. A number of orders have already been passed upto the date of this article (April 21). The experience of tax professionals with faceless assessment till now is by and large OK […]
Compulsory Registration for ECO – As per section 24(x) of the CGST Act 2017, every electronic commerce operator (ECO) who is required to collect tax at source under section 52 would have to be compulsorily registered under GST. Every ECO is required to obtain GST registration in each state if it has suppliers in different states.
All India Federation of Tax Practitioners requested Finance Minister to extend dates of compliances for the month of March, 2021 under GST Law. It is explained that Due to the prevailing pandemic, in spite of our members working day in and day out to carry out the compliances of GST like GSTR-3B, the work couldn’t […]
