FAQs

Remittance Abroad – Form No. 15CA & Form 15CB – Lucidly Explained 18 FAQs

Income Tax - Q 1. Who has to submit Form 15CA and 15CB? Ans. Any Person, responsible for paying any sum to a Non Resident, not being a Company, or to a Foreign Company, shall furnish Form 15CA and 15CB. Such sums sought to be remitted outside India may be chargeable or may not chargeable to tax in […]...

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FAQs on Removal of Directors under Companies Act, 2013

Income Tax - Section 169 of the Companies Act, 2013 (Act) deals with the procedure of Removal of Directors. The write up mentioned below endeavours to answer some of the frequently asked questions relating to removal of directors: Who can exercise the right of removing a director from a company? The shareholders of a company may pass an […]...

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Increasing Authorized Share Capital- Procedure & FAQs

Income Tax - Meaning and Concept of Authorized Share Capital: ♦ As Per Section 2(8) of the Companies Act, 2013 ‘authorized capital’ or ‘nominal capital’ means such capital as is authorized by the memorandum of a company to be the maximum amount of share capital of the company. ♦ Therefore Authorized Share Capital is that ma...

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FAQs for Seeking VC & Seeking VC adjournment under Income Tax

Income Tax - FAQs for Seek VC & Seek VC adjournment Q.1 What is VC? Answer: VC stands for ‘Video Conferencing’. Using the VC facility, an assessee is enabled to express or submit one’s response orally before an Income Tax Authority who has initiated the proceeding and expect the response from the user. This facility has been enabled [&hellip...

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Issue of Bonus Shares under Companies Act, 2013 with FAQs

Income Tax - 1. MEANING OF BONUS SHARES: Bonus Shares refers to a further issue of shares made by a company having share capital to its existing shareholders without receipt of any consideration from the shareholders for issuance of such shares. It is an offer of free additional shares to the existing shareholders in proportion to their existing [&hel...

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ICAI FAQs on SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Income Tax - Frequently Asked Questions on Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Way back from 1996 in Indian history, the need for having a strong framework of good corporate governance has been kept on increasing due to the various irregularities occurring worldwide including in In...

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FAQ’s- System driven disclosures under SEBI (Prohibition of Insider Trading) Regulations, 2015

Income Tax - SEBI has informed the Exchange that there have been few queries received from market participants seeking clarification with regard to SDD. To address these queries, FAQs as per Annexure I are being issued....

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FAQs on Limited Liability Partnership Act, 2008

Income Tax - ICAI releases E-book containing Frequently Asked Questions (FAQs) on Limited Liability Partnership Act, 2008  The Limited Liability Partnership (LLP) Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India, unlike the general partnerships in India. The Act was notified on 31st March...

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Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal

Income Tax - Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication...

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FAQs -CS Executive Entrance Test (CSEET) through Remote Proctored Mode

Income Tax - FAQs About CS Executive Entrance Test (CSEET) To Be Held on 9th January 2021 Through Remote Proctored Mode Q.1 How the CSEET will be conducted? Will it be conducted from Test Centres or from Home? Ans. CSEET shall be conducted through REMOTE Proctored mode instead of conducting the same from Test Centres. Candidates are allowed […]...

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CBDT releases Answer to 34 FAQs on Vivad se Vishwas

Circular No. 21/2020-Income Tax - (04/12/2020) - Circular No. 21/2020 is being issued in continuation of circular dated 22nd April, 2020 (which covered Q. no, I – 55) under section 10 and 11 of the Vivad se Vishwas to provide answers to 34 more FAQs (Q. no. 56 – 89)....

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Manufacture & Other Operations in Customs Warehouse- FAQs

F. No. 484/03/2015-LC (Pt) - (27/10/2020) - CBIC) have launched a revamped and streamlined program to attract investments into India and strengthen Make in India. This program is based upon Section 65 of the Customs Act, 1962, which enables conduct of manufacture and other operations in a Customs bonded warehouse....

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FAQs on LTC Cash Voucher Scheme

No. 12(2)/2020-E.II(A) - (20/10/2020) - Clarification regarding queries being received in respect of Special cash package equivalent in lieu of Leave Travel Concession Fare for Central Government Employees during the Block 2018-21....

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ICAI Allows Provisional Registration in CA Foundation Course after passing Class X Examination

No.1-CA(7)/193/2020 - (19/10/2020) - Public Relations Committee The Institute of Chartered Accountants of India 19th October, 2020 PRESS RELEASE ICAI Allows Provisional Registration in CA Foundation Course after passing Class X Examination With an aim to provide high quality education and keeping the future global business competencies...

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Unblocking of e-Way Bill facility in ACES-GST Application: FAQs

Advisory No. 05/2020 - (12/03/2020) - Field formations have reported that they are facing several issues while issuing EWB-06. A detailed FAQ has been prepared and enclosed herewith for easy reference of the field formations....

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Recent Posts in "FAQs"

Remittance Abroad – Form No. 15CA & Form 15CB – Lucidly Explained 18 FAQs

Q 1. Who has to submit Form 15CA and 15CB? Ans. Any Person, responsible for paying any sum to a Non Resident, not being a Company, or to a Foreign Company, shall furnish Form 15CA and 15CB. Such sums sought to be remitted outside India may be chargeable or may not chargeable to tax in […]...

Read More

FAQs on Removal of Directors under Companies Act, 2013

Section 169 of the Companies Act, 2013 (Act) deals with the procedure of Removal of Directors. The write up mentioned below endeavours to answer some of the frequently asked questions relating to removal of directors: Who can exercise the right of removing a director from a company? The shareholders of a company may pass an […]...

Read More

Increasing Authorized Share Capital- Procedure & FAQs

Meaning and Concept of Authorized Share Capital: ♦ As Per Section 2(8) of the Companies Act, 2013 ‘authorized capital’ or ‘nominal capital’ means such capital as is authorized by the memorandum of a company to be the maximum amount of share capital of the company. ♦ Therefore Authorized Share Capital is that ma...

Read More

FAQs for Seeking VC & Seeking VC adjournment under Income Tax

FAQs for Seek VC & Seek VC adjournment Q.1 What is VC? Answer: VC stands for ‘Video Conferencing’. Using the VC facility, an assessee is enabled to express or submit one’s response orally before an Income Tax Authority who has initiated the proceeding and expect the response from the user. This facility has been enabled [&hellip...

Read More

Issue of Bonus Shares under Companies Act, 2013 with FAQs

1. MEANING OF BONUS SHARES: Bonus Shares refers to a further issue of shares made by a company having share capital to its existing shareholders without receipt of any consideration from the shareholders for issuance of such shares. It is an offer of free additional shares to the existing shareholders in proportion to their existing [&hel...

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Straight and honest talk on Budget amendments

बजट प्राव्धानो पर सीधी और पते की बात। Straight and honest talk on Budget amendments. 1. TDS at Double Rate in case of Non-Filers of ITRs (Section 206AB): The Finance Bill 2021 has proposed to insert a new section 206AB in the Income Tax Act, w.e.f. 1.7.2021 which mandates that th...

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ICAI FAQs on SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Frequently Asked Questions on Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Way back from 1996 in Indian history, the need for having a strong framework of good corporate governance has been kept on increasing due to the various irregularities occurring worldwide including in In...

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Frequently asked questions on QRMP scheme

1. What is QRMP scheme? What are its benefit? A: Quarterly Return, Monthly Payment of Taxes (QRMP) Scheme is a scheme to simplify compliance for small taxpayers. Under this scheme, taxpayers having an aggregate turnover at PAN level up to Rs. 5 crore can opt for quarterly GSTR-1 and GSTR-3B filing. Payment can be made […]...

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FAQs on Compliance functions in banks & Role of CCO

As per Para 2.1, the compliance function is expected to ensure compliance to all applicable statutory provisions, apart from other rules, regulations and code of conducts. As different groups/departments in the banks are responsible to ensure compliance to different statutory requirements, what would be the exact expectations from the com...

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FAQs on Quarterly GST Returns & Monthly Payments scheme

A new scheme for return filing under GST for small taxpayers has been introduced, due to which there is a lot of confusion among taxpayers about what they have to do, what they can’t do, how they will pay taxes, when they have to file returns etc. In these FAQs, I have tried to answer a […]...

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