Interest was payable under Section 234C on default in payment of advance tax installment on returned income, and not on assessed income.
Delhi High Court sets aside NFAC assessment due to lack of personal hearing, emphasizing transparency and accountability in the system.
The Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021: How has it affected the Corporate Social Responsibility Regime in India? On 22 January 2021, the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 (2021 Rules) were brought into effect by the Government of India, replacing the Companies (Corporate Social Responsibility Policy) Rules, 2014 (2014 Rules). […]
Many companies availed benefit of the Companies Fresh Start Scheme (CFSS) 2020 last year. Last year MCA came up with the Companies Fresh Start Scheme (CFSS) 2020 to give a chance for companies to start afresh and make good the defaults in filing a number of forms with ROC. Many companies availed the benefit of […]
INTRODUCTION Annual return is the significant document which is required to be filed by the every company with Registrar of Companies [ROC]. Annual return shall be prepared in the prescribed form ie. Form MGT-7 and it containing information like details regarding registered office, principal business activities, shares debentures and other securities and shareholding pattern, details […]
Any person (being a buyer) who is responsible for paying any sum to any resident seller for purchase of any goods of the value exceeding 50 Lakhs in any Previous year required to deduct tax u/s 194Q w.e.f. July 1, 2021. “Buyer here means whose Total sales, gross receipts or turnover from the business carried […]
Private Placement of Securities: A Wider Perspective (Including relevant compliance in case shares allotted to NRI Entity) The purpose of this article is to get an overlook about the applicable provisions, process to be complied along with requirements of law where at any time, a company having a share capital proposes to increase its subscribed […]
Once an assessee discharged its burden, then burden shifts to AO to prove otherwise that said transaction was nothing but undisclosed income of the assessee. In this case, AO had not brought on record any evidence to prove that said sum was undisclosed income of assessee. Therefore, AO was completely erred in making additions towards unsecured loans received from three companies of assessee group.
Any Foreign LLP can establish its place of business in India by filling Form 27 (Registration of particulars by Foreign Limited Liability Partnership (FLLP)). The eForm has to be digitally signed by authorized representative of the FLLP. There is no mandatory requirement to apply and obtain DPIN or DIN for Designated Partners of FLLP but […]
MCA notifies Investor Education and Protection Fund (IEPF) Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2021 to amend the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. MCA inserts new Rule 6A. Manner of transfer of shares under sub-section (9) of section 90 of the Act to the Fund […]
