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Falguni Shah

Latest Posts by Falguni Shah

The Changing Landscape of IBC

March 24, 2018 2634 Views 1 comment Print

The Insolvency and Bankruptcy Code aims at establishing a time bound resolution of stressed assets, failing which the corporate debtor will be liquidated. Much has been written about the issues under the Code vis-à-vis other regulations. In this article, we attempt to throw light on the practical difficulties under the Code and the need to address them.

Insolvency and Bankruptcy Code– brighter days post budget?

February 6, 2018 10494 Views 0 comment Print

As of June 2016, the total amount of gross non-performing Assets (NPAs) for public and private sector banks amounted to approximately ₹6 lakh crore. The economy remained clogged with the whopping amount of NPAs due to lack of any effective mechanism to deal with the same.

Restriction on number of layers of subsidiary: A step in direction of improved corporate governance

October 25, 2017 12744 Views 1 comment Print

In the fight against black money and in attempting to promote governance culture, the Indian government is constantly finding new weapons viz. demonetisation, roll out of Goods and Services Tax, introduction of new laws such as RERA, Insolvency and Bankruptcy Code, etc. The government is also plugging loopholes in existing laws and regulations through amendments. […]

IND AS and Income Tax Act – a complex interplay

September 15, 2017 7188 Views 0 comment Print

The world is soon going to become a village; therefore, it is time to standardize business practices all over the world, and global uniform accounting standards and practices are the need of the hour. The Indian Accounting Standards or IND AS have also been designed accordingly. Transactions would be perceived differently with the advent of IND AS, as it focuses on the substance of the transaction rather than merely its form or nomenclature.

Depreciation on goodwill – the perennial debate

September 5, 2017 9216 Views 0 comment Print

Depreciation on goodwill has been a matter of considerable debate. Although the Supreme Court, in its landmark judgment in the case of Smifs Securities, held that goodwill is an intangible asset within the meaning of section 32 of the Income-tax Act, 1961 (the Act) and depreciation on goodwill is allowable under the section, some judgments have held otherwise, making the issue a highly debatable one.

Cash dividend no longer the king

July 26, 2017 4485 Views 1 comment Print

The corporates today are rewarding their shareholders in various fashionable ways like Bonus shares (equity and preference shares), bonus debentures, buyback, etc. These modes of distribution could prove to be more efficient than conventional method of distribution i.e. cash dividend.

Gifts amongst ‘Relatives’ – How long will they be ‘taxfree’?

June 7, 2017 7224 Views 1 comment Print

Inheritance tax is a levy paid by a person who inherits the estate of the deceased. This tax is viewed as a tool to reduce the economic and consequent social disparity between the rich and the poor.

MAT impact on financials under IND AS

May 15, 2017 9057 Views 0 comment Print

1. Background With companies having net worth exceeding INR 500 crores required to converge their financials with the Indian Accounting Standards (IND AS) for financial years beginning on or after 1 April, 2016, the Minimum Alternate Tax (MAT) implications for section 115JB of the Income Tax Act, 1961 (ITA) were a big mystery. The Finance […]

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