"01 May 2023" Archive

Format of Board Resolution for Calling Annual General Meeting

Certified True Copy of The Resolution Passed By Board of Directors For Calling Annual General Meeting And Approve The Notice Thereto TO CONSIDER CALLING THE NO. OF AGM (___) ANNUAL GENERAL MEETING OF THE COMPANY AND APPROVE THE NOTICE THERETO “RESOLVED THAT the ____Annual General Meeting of the members of the Company be convened on [&he...

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Posted Under: Company Law |

Recent Income Tax Notices based on Alleged Bogus Donations & Cash Deposits Decoded

The Income Tax authorities have the power to scrutinise your tax filings for the last 10 years / 3 years (depending on thresholds) based on information obtained by them through various means. These means generally include data from: State and Central Statutory Authorities (Property registrations, Corporate Ministry, GST, Customs, etc. dep...

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Non Resident- Practical Queries & Answers

Recently my client came back to India after staying in the United States for 3.5 years & was wondering whether he is required to file an income tax return here in India. Is he a resident or a non-resident? Another day my neighbor was curious whether they can get credit of the taxes paid outside […]...

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Posted Under: Company Law |

Power of Lockout under Industrial Disputes Act, 1947

Under the Industrial Disputes Act, 1947, a lockout is a temporary suspension of work by the employer as a result of a labor dispute. The Act defines a lockout as 'the closing of a place of employment, or the suspension of work, or the refusal by an employer to continue to employ any number of persons employed by him.'...

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Posted Under: Company Law |

Summary of TDS on Property, Cash withdrawals and others

The Article provides a brief summary of TDS provisions related to Section 194IA – TDS on Property Sale, Section 194N  TDS on Cash Withdrawals, Section 194O – TDS on E-commerce transactions and Section 194IB – TDS on Rent by Certain Individuals and HUFs. Section 194IA : TDS on Property Sale The Section lays down that [&h...

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Posted Under: Company Law |

GST ITC Reversal

The provisions of Goods and Services Tax Act, 2017 were expected to be very simple and easy to comply with. On the contrary the manner in which the law was introduced as well as subsequent clarification changes etc.  have resulted in increasing the complexity substantially. Over the years most of the registered persons have become [&hell...

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Posted Under: Company Law |

Addressing Sexual Harassment at the Workplace in India: Challenges and Opportunities for a Safer and Equitable Future

The development of labour laws in India to protect women from sexual harassment at the workplace began with the introduction of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. This act defines sexual harassment at the workplace and mandates employers to put in place mechanisms to address such...

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Posted Under: Company Law |

Brief on SEBI Consultation paper issued on LODR regulations 2015 in February 2023

CONSULATATION PAPER ON LODR INTRODUCTION – Brief of Paper issued by SEBI dated 20th February and 21st February 2023. – The consultation paper aims to introduce amendments to the SEBI (LODR) which will strengthen corporate governance at listed entities by empowering shareholders and to address issues. 01. Financial Results by N...

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Posted Under: Company Law |

Employee cannot be called up to pay tax to extent of tax deducted by employer

Milan Arvindbhai Patel Vs ACIT (Gujarat High Court)

Gujarat High Court held that employee shall not be called upon to pay the tax himself to the extent to which tax has been deducted by the employer. In nut-shell, department cannot deny the benefit of TDS deducted by employer to the employee even if the TDS is not deposited by employer....

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Interest Income on ECB taxable at rates provided in Article 11 of Indo-Netherlands Tax Treaty

DCIT Vs Cooperative Rabobank UA (ITAT Mumbai)

ITAT Mumbai held that interest income on External Commercial Borrowings (ECB) is taxable at tax rate provided under Article 11 of Indo Netherlands Tax Treaty and not taxable in terms of Article 7 of the Tax Treaty....

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