The purpose of IND AS 24 is to ensure that related party transactions are disclosed in financial statements. The standard requires companies to disclose the nature of the related party relationship, the transactions between related parties, and the terms and conditions of those transactions.
ITAT Mumbai held that exemption provisions of section 54F of the Income Tax Act are beneficial provisions and are to be construed liberally. Accordingly, as assesse invested in one residential property, exemption u/s 54F duly available.
Telangana High Court allowed the Criminal Petition as delayed payment of tax was on account of cogent reasons i.e. financial difficulty and was not on account of any willful attempt to evade tax.
ITAT Pune held that waiver of loan is not taxable under section 28(i) of the Income Tax Act as the same is not a business income.
ITAT Jaipur held that once the penalty is levied for non-maintenance of book of accounts, there cannot be further default for not getting the same audited as required u/s 44AB of the Act and therefore, the penalty levied u/s 271B is not justified.
Any security holder of a Company may nominate a person as a nominee, per Form No. SH.13, in whom the securities would vest in the event of his / her death. The property in the securities gets vested in favour of the nominee without following the cumbersome and time-consuming procedures after the death of the security holder.
Explore a comprehensive format for the application to Regional Director seeking confirmation of the alteration of a company’s memorandum for shifting the registered office from one state to another. Includes detailed information on company particulars, jurisdiction, limitations, reasons for shifting, employee retention, shareholder and creditor details, public notice, and more.
PIT Regulations, 2015 require the Board of Directors or head(s) of an organization to maintain a Structured Digital Database (SDD) in compliance with the regulations for handling unpublished price-sensitive information.
Gujarat High Court held that issuance of notice for reassessment under section 148 of the Income Tax Act beyond the period of six years from the end of the relevant assessment year is barred by limitation.
Stay compliant with annual requirements for private limited companies in India. Learn about statutory registers, board meetings, general meetings, MSME returns, deposit filings, directors’ KYC, and annual filings under the Companies Act, 2013. Avoid penalties and ensure smooth operations.
