Regarding applicability of provisions of section 194Q and 206C(1H) of Income Tax Act, 1961 w.e.f 01.04.2022. 206C(1H): Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported […]
Compliance Calendar FY-2022-23 S. No. Particulars Applicability Period Due date Opening of Bank Account for Un-spent CSR Account and transfer of unspent CSR amount to that account. If CSR is applicable to the Company and Company couldn’t spent CSR amount FY 2021-22 30th April 2022 (i) Director’s Disclosure of Interest and Non-disqualification All Companies 1st […]
Protection of the individual, and the safeguarding their information is inherent in the design of the UID project. From having a random number which does not reveal anything about the individual to other features listed below, the UID project keeps the interest of the resident at the core of its purpose and objectives.
1. WHAT IS SECTION 54? As we all know that on selling or transferring a capital asset like property, capital gains arise which are taxable in the hands of the assessee/ taxpayer. Under Section 54 of the Income Tax Act, an individual or HUF selling a residential house property can claim exemption from such capital […]
Mutual Fund Investment : A Path To Financial Independence* I. INTRODUCTION: There are different places to invest your money. Savings account (less risky, less return), Gold /jewelry (moderate risk, volatile returns), Real estate (low-moderate risk, volatile return) Some people who want to take more risk also invest in the stock market. The risk of the […]
Section 135 of the Companies Act, 2013 Every company -having net worth of 500 crore or more, or -turnover of 1000 crore or more, or -a net profit of 5 crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more Directors, […]
The topic of bail cannot be discussed without taking into account this canon of criminal jurisprudence that ‘bail is the rule and jail is the exception’ laid down by Hon’ble Justice Vaidyanathapuram Rama Krishna Iyer in the matter of State of Rajasthan Vs Balchand alias Baliay [ 1977, 4 SCC 308]. The cancellation of bail […]
While delivering the budget speech in the year 2015, the Finance Minister of India, for the very first time introduced ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’. Later on, the Pradhan Mantri Jeevan Jyoti Bima Yojana was launched on 9th May, by the Prime Minister of India, Shri Narendra Modi. Features; eligibility criteria; premium amount and […]
The RBI had issued certain clarifications vide its notification dated 12th Nov 2021 with a purpose to more accurately interpret the extant IRAC norms which we must keep in mind while conducting branch audits this time. The gist of the same are reproduced below which are very important from the perspective of deciding correct date […]
ROC i.e. Registrar of Companies requires all the businesses registered in India to file certain forms every year. Irrespective of their structure, businesses in India are required to adhere to these compliances. Hence, be it Private Limited Company, Public Limited Company, Limited Liability Partnership etc shall have to keep a track of all the ROC […]
