A Company Secretary is a key managerial personal in the organisation who is entrusted with all the legal aspects of a business enterprises. The main role of CS in an organisation is auditing the company’s tax returns maintaining and, keeping books of accounts, advising the board of directors regarding the financial and legal risks of […]
OVERVIEW OF DIRECTORS IN A COMPANY MEANING: According to Section 2(34) of the Companies Act, 2013 a director is director who is appointed to the Board of the company. According to Section 2(10) of the Companies Act, 2013 Board or Board of Directors in the company means the altogether body of the directors of the […]
SECTION 149 of Companies Act, 2013: Section 149 of the Companies Act, 2013 states minimum and maximum number of the director that shall be in the company. The minimum number of directors in a private limited company is 2, for public limited it is 3 and for an OPC its1. However, maximum number of directors […]
In order to promote transparency and simplifying the tax return filing process, CBDT vide Notification dated May 28, 2020 has amended Form 26AS vide Sec 285BB of Income Tax Act, 1961 r.w.r.114-I of Income Tax Rules, 1962 w.e.f. 01.06.2020. The new Form 26AS is an Annual Information Statement or AIS which will provide a complete […]
GST Laws stipulates that any supplier of goods, services or both must register as a GST Act if their aggregate turnover of more than Rs. 20 lakhs in a year (Rs.10 lakhs in Special Category States) have to obtain GST registration. If the supplier is only supplying goods, then threshold limit is Rs. 40 lakhs […]
What is Annual Information Statement (AIS)? Annual Information Statement (AIS) is a utility/ form available on Income Tax Portal which displays all the financial and tax related information available with the Tax Department with regard to the taxpayer. It is an extension of an earlier available form, called 26AS, on the portal which contained the […]
Key decisions taken at the 229th meeting of Central Board of Trustees, the apex decision-making body of EPFO. The 229th meeting of Central Board of Trustees (CBT), apex decision-making body of EPFO, was held today in New Delhi under the chairmanship of Shri Bhupender Yadav, Union Minister for Labour & Employment, Vice-chair Shri Rameswar Teli, […]
No requirement of Dynamic QR Code if the payment is received by the supplier, in convertible FOREX or in INR wherever permitted by the RBI Doubt have arise whether the relaxation from the requirement of dynamic QR code on the invoices would be available to such supplier, who receives payments from the recipient located outside […]
HSN stands for Harmonised System of Nomenclature code, it is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with […]
Matters Need to be Covered in Board of Directors Report under Companies Act, 2013 1. Web address, if any, where annual accounts were placed 2. Number of meetings of the Board 3. Director’s Responsibility Statement (DRS) 4. Details in respect of fraud reported by Auditor as per section 143 of the Companies Act, 2013. 5. […]
