Nidhi Company Nidhi as the Hindi word denotes “sampatti” is a type of public company which may be incorporated with an exclusive object of cultivating the habit of thrift and savings amongst its members, deposits from, and lending to, its members only, for their mutual benefit. What is a Nidhi Company? Nidhi Company is incorporated […]
INTRODUCTION 1. Charity and mutuality are age-old concepts. The former is done as an act of benevolence. The latter is an arrangement to achieve a common purpose. One undertaking such acts, therefore, needs to appreciate the implications under the GST laws to avoid any undue demands in future. This is more relevant for the reason […]
Exemptions to Charitable Trust under Income Tax Act, 1961 Income of a charitable and religious trust is exempt from tax subject to certain conditions. The exemptions are provided to the trusts under various provisions, inter-alia, Section 10, Section 11, etc. Some of the exemptions allowed to a trust are as under: Section 11 provides exemption […]
Every person having a definite cultural economic educational religious or social program shall accept Foreign Contribution only after obtaining a certificate of registration from the central government and there are two modes for obtaining permission to accept foreign contribution under FCRA let us discuss the same i. Registration ii. Prior Permission Registration Under FCRA Eligibility […]
Income Tax Department carried out a search operation under section 132 of the Income – tax Act, 1961 on 22.07.2021 on a prominent business group, which is involved in businesses in various sectors, including Media, Power, Textiles and Real Estate, with a group turnover of more than Rs. 6,000 crore per annum.
The 161st anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India here today. As part of the observance, the field formations held a range of activities.
There is a new energy in our startups space. In just first 6 months of 2021, India has been to see 15 more unicorns . This was said by Shri Piyush Goyal while addressing the Plenary Session of CII- Horasis India Meeting 2021 on India’s Emerging Industry & Trade Architecture
CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (“Triple- Bottom-Line- Approach”), while at the same […]
INTRODUCTION In this catastrophe of pandemic COVID-19, we’ve got seen the fast of labour in the workplace is currently speedily transiting into work from home. The staff has to be compelled to leave the workplace house and currently functioning from their own homes or distant areas. The question within the mind of many of the […]
One word which stand synonym to GST from compliance perspective is RECONCILIATION! Most of the Consultant’s time or the taxation team of any organization is spent in preparing and undertaking several reconciliations under GST. Because of the same, the demand and market for tax technology solutions have thrived and prospered. Several consulting firms now have […]
