Limited Liability Partnership (LLP) is a body corporate having legal entity and can hold property in its own name different from its partners. It is a hybrid of partnership and company form of organization. LLP has limited liability and perpetual succession.
Section 6 of the Income-tax Act [Residential Status] In order to determine the residential status under Income-tax Act, number of days of stay in India is to be calculated in previous year for which residential status is to be determined. Following are the scenarios in order to determine the primary residential status of an Individual: […]
Explore the intricacies of insurance with our insightful articles covering crucial aspects. From the significance of utmost good faith to the impact of non-disclosure on insurance contracts, gain valuable insights. Stay informed about material facts, principles, and regulations shaping the insurance landscape. Delve into the world of insurance with clarity and understanding.
‘Think & Learn Private Limited (BYJU’S) acquisition of 70% of equity shareholding on a diluted basis of Aakash educational services Limited (AESL), followed by a merger between the two enterprises. Therefore, BYJU’s to acquire full control over AESL’.[1] Year of the deal: 2021 Master Data of the companies[2] THINK & LEARN PRIVATE LIMITED (the acquirer […]
In this article we shall discuss briefly about taxability and FEMA regulations in relation to Indian resident’s investment in LLC and Inc. in USA INC. INTRODUCTION Inc. is an abbreviation for Incorporated when it is used after a company’s name. Inc. is a corporate body which issue shares of stock to their owners, who are called shareholders. […]
Aadhaar: FAQs on Offline verification process of Aadhaar and role of Offline verification seeking entities (OVSEs) Q.1 What is offline verification Ans. Offline verification is the use of Aadhaar for identity verification and KYC locally, without sending data to and receiving response from UIDAI online. In offline verification resident directly submits the Aadhaar number and associated […]
Introduction: Generally, after completion of the Income tax assessment, the tax department issues a notice under Section 156 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) to enforce and collect the tax demand. The assessee has to pay the tax amount within 30 days from the date of service of the notice […]
Understanding the implications of GST on NGO, Charitable & Religious Trust. Learn about the exemption provided for services provided for charitable causes.
Introduction about LEI: Legal Entity Identifier India Limited is a registered company having CIN U74900MH2015PLC268921 and is a Wholly Owned Subsidiary of The Clearing Corporation of India Ltd. LEI acts as a Local Operating Unit (LOU) for issuing globally compatible Legal Entity Identifiers in India “LEIL has been recognized by the Reserve Bank of India as an […]
Learn about the impact of GST on clubs and associations. Find out how fees collected from members are subject to retrospective GST from July 1, 2017.
