The Finance Bill 2018 reintroduced tax on LTCG made from listed shares and equity-oriented mutual funds. With Effective 1 April 2018, LTCG arising from the sale of these shares and equity oriented funds that are held for more than 12 months are taxable at the rate of 10% if such LTCG exceeds Rs.1 lakh in the given Financial […]
According to Securities Contract Act 1956, the derivative is a contract between two or more parties, and its price is directly related to the fluctuations of price of the underlying asset. The most common types of derivatives in India are futures and options. Futures: Future is a contract to buy or sale an underlying asset […]
Refund refers to an amount that is due to the tax payer from the tax administration. According to section 54 of the CGST Act, 2017, any person claiming refund of any tax and interest, if any, paid on such tax or any other amount paid by him, may make an application before the expiry of two years from the relevant date.
Assessment means determining tax liability under the CGST Act, 2017 and includes the following types of assessment Self Assessment, Provisional Assessment, Reassessment on Scrutiny, Best judgement Assessment-non filers of return, Assessment of unregistered persons, Summary assessment on evidence
Sec 24 of the CGST act mention certain categories of suppliers, who shall be liable to take GST registration even if their aggregate turnover is below the said threshold limit of 20 lakh rupees.
Securities Appellate Tribunal is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992 to hear and to dispose appeals against orders passed by the Securities and Exchange board of India or by an adjudicating officer under the Act.
Generally voting rights are available only to the equity shareholders of the company. Preference shareholders do not enjoy normal voting rights like equity shareholders.
