Section 135 of the Companies Act, 2013 Every company -having net worth of 500 crore or more, or -turnover of 1000 crore or more, or -a net profit of 5 crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more Directors, […]
The topic of bail cannot be discussed without taking into account this canon of criminal jurisprudence that ‘bail is the rule and jail is the exception’ laid down by Hon’ble Justice Vaidyanathapuram Rama Krishna Iyer in the matter of State of Rajasthan Vs Balchand alias Baliay [ 1977, 4 SCC 308]. The cancellation of bail […]
While delivering the budget speech in the year 2015, the Finance Minister of India, for the very first time introduced ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’. Later on, the Pradhan Mantri Jeevan Jyoti Bima Yojana was launched on 9th May, by the Prime Minister of India, Shri Narendra Modi. Features; eligibility criteria; premium amount and […]
It was clarified that holding a valid Peer Review certificate by Practice Units (referred to as ‘firms’ in the Announcement dated 12.02.2022) should be a pre requisite for undertaking audit of all entities falling under phase I; II; III and IV of the mandate.
DS will be applicable in case of PF final settlement, transfer claims, on transfer from Exempted establishments to EPFO and vice versa, on transfer from one Trust on another, past accumulations transfer, at the time of annual accounts processing, on back period accounting after accounts for year 202122 are processed.
No person shall finance any activity which is prohibited under this Act, or under the United Nations (Security Council) Act, 1947 or any other relevant Act for the time being in force, or by an order issued under any such Act, in relation to weapons of mass destruction and their delivery systems.
The RBI had issued certain clarifications vide its notification dated 12th Nov 2021 with a purpose to more accurately interpret the extant IRAC norms which we must keep in mind while conducting branch audits this time. The gist of the same are reproduced below which are very important from the perspective of deciding correct date […]
Additional Commissioner of Income Tax Vs Leena Gandhi Tiwari (ITAT Mumbai) The need to implement BMA in a strict manner, as learned Commissioner (DR) pleads for, can hardly be overemphasised. What it essentially means is that whenever any unaccounted income or undisclosed asset abroad is found, stern action, in accordance with the law, must be taken. […]
ROC i.e. Registrar of Companies requires all the businesses registered in India to file certain forms every year. Irrespective of their structure, businesses in India are required to adhere to these compliances. Hence, be it Private Limited Company, Public Limited Company, Limited Liability Partnership etc shall have to keep a track of all the ROC […]
In India, if you have registered your business, it is important to follow necessary compliance for your business structure. If we talk about A Limited Liability Partnership, that is a business structure with a minimum number of 2 members and having no limitation on the maximum number of members, the compliances of an LLP is […]
