Corporate Law : Understanding the Presumption of Constructive Notice under the Transfer of Property Act, 1882. Know your rights as a property owne...
Income Tax : The Madras High Court rules that IBC proceedings cannot affect the rights of the Income Tax Department to reopen assessments....
Excise Duty : Find out why delaying the adjudication of Show Cause Notices for 13 years is not just, proper, or legal. Learn more about this leg...
Service Tax : Whether services provided are man power services or job work services so as to be exempted under the relevant notifications issued...
Corporate Law : SC clarified that banks cannot be restrained from selling the mortgaged property by holding public auction and realize the outstan...
Corporate Law : Delhi High Court addresses compliance issues in the case of Ansal Properties & Neelam Bhutani. Key points on Industrial Disputes A...
Income Tax : Whether forfeiture of gratuity, under Payment of Gratuity Act, 1972, is automatic on dismissal from service, is issue for consider...
Corporate Law : A plain reading of the definition of Section 2(22) of the ESI Act makes it amply clear that wages means all remuneration paid or p...
Corporate Law : Courts do not have the power to modify any award decided by the Arbitrator under Sections 34 and 37 of Arbitration and Reconciliat...
Fema / RBI : Power of RBI to withhold remittance to be made under Automatic route to Wholly owned Subsidiary cannot be used to reject the remit...
Section 237 of the Income Tax Act, 1961 deals with refund of excess tax paid by the assessee. If any person or assessee satisfies the assessing officer that the amount of the tax paid by him or paid by any person on his behalf during any previous assessment year exceeds the amount with which he is properly chargeable under the act for that year, he is entitled to refund of excess amount paid.
A transaction in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an arm’s length transaction is to ensure that both parties in the deal are acting in their own self interest and are not subject to any pressure or duress from the other party
As a general public we have tendency to save taxes by adopting various tricks and transactions. A lot of black money is generated through transfer of various types of immovable properties. The seller and the purchaser generally mutually agree on a transaction to enter into agreement at a price lower than the Fair Market Value of property to save stamp duty etc.
As we know HUF (Hindu Undivided Family) is assessed as a separate person under provisions of Income Tax Act, 1961. It has its own identity and right to own property but not a juristic person. It can sue and be sued as a person. It is governed by Karta of the family and consists of coparceners of a single family.
NCLT held that the tax liability arising out of the sale shall be distributed in accordance with the provisions of Section 53 of the Code. The applicability of Section 178 or 194 IA of the IT Act will not have an overriding effect on the water fall mechanism provided under Section 53 of the Code, which is a complete code in itself, and the capital gain shall not be taken into consideration as the liquidation cost.
In this article we are going to discuss utilisation of Letters of Credit and its advantages / disadvantages; UTILISATION OF LETTERS OF CREDIT; there are various stages from shipment of goods and / or provisions of services till the payment received by the seller / beneficiary;
A letter of credit is a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
Venture Capital is a type of seed funding in which investment is made at the initial growing stage of ventures. It is a financing to small and start-up ventures, which has high risk and potential to develop near future. The Venture Capital Investors are generally put their funds in those companies, which are with new ideas, innovations and having potential of high growth with inherent uncertainties.
Prohibition of Benami Property Transactions Act, 1988, an act promulgated to prevent and prohibit Benami transactions in India on 5th September, 1988. The Act, 1988 has only 9 Sections and not so effective, while preventing and prohibiting Benami Transactions. The Act, 1988 previously called The Benami Transactions (Prohibition) Act, 1988.
As we know in private limited and closely held public limited companies, there are restrictions on transfer of shares. When an entrepreneur starts a venture or business with new ideas or new invention, he needs finance.
