Annual Information Statement (AIS)– Income on account of repurchase of units by MF/ UTI ‘Annual Information Statement’ and ‘Taxpayer Information Summary’ are two new tools recently made available by the Income Tax Department to the taxpayers. The main objective of the ‘Annual Information Statement’ is to provide comprehensive tax information to the taxpayer and also […]
Part I – Law(s) Governing the eForm MGT-7 Pursuant to Section 92(1) of the Companies Act, 2013 and rule 11(1) of the Companies (Management and Administration) Rules, 2014. (Refer Annexure A) Purpose of the eForm MGT-7 Every company shall prepare an annual return in the form MGT-7 containing the particulars as they stood on the […]
It is seen that the CBIC and DGARM has held back many refunds of exporters due to the difference between the FOB Value of exports as reported in the Shipping Bills and the CIF Value as reported in the GST Invoices which also find a way in the Shipping Bill. The matter has been taken […]
A company (Private as well as Public) is required to issue Share Certificates to it subscribers to memorandum in case of incorporation and to its shareholders in case of further allotment of shares within the given time line. However, there are many instances where a company fails to pay stamp duty within the given time line and faces difficulty to prove its authenticity this where the process of adjudication comes into the picture.
Company Incorporation- In general usage, the term ‘incorporation‘ refers to the process of forming a legal corporation out of a firm, city, or other entity. In order to form a business in India, you must follow the regulations set forth in the Companies Act of 2013. Directors- Person who examine the day-to-day operations of the company, make […]
Section 80JJAA of the Income Tax Act was created to encourage firms to hire new employees on a regular basis. Section 80JJAA deduction is for the recruitment of new or additional employees. Section 80JJAA DEDUCTION: 30% of additional employee cost for three years. ELIGIBILITY for Section 80JJAA Deduction: Applicable to all Assessees having business income. […]
The Indian stock markets have recorded an all time high with the Sensex touching the 62,245.43 mark in October 2021 for the first time ever since its inception. At the same time, Nifty 50 have hit the fresh all time high of 18,000!
A new ‘Annual Information Statement’, revising Form 26AS, is recently rolled out by the income tax department. It mainly provides a comprehensive view of various information to the taxpayer. Secondly, for ease of return filing, a simplified ‘Taxpayer Information Summary’ which shows aggregate value to the taxpayer is also made available. Annual Information Statement allows […]
Part I – Law(s) Governing the eForm – Investor Complaint Form Purpose of the eForm – Investor Complaint Form Any investor, shareholder, creditor, employee, deposit holder can file complaint related to shares, debentures, bonds, fixed deposits etc. against a company by filling Investor Complaints form. There is no fee for filing the form. Alternatively the […]
Part I – Law(s) Governing the eForm CFI – Reply To Call for Information on CSR Rule Number(s) Section 206 of the Companies Act, 2013 regarding compliance of provisions of Corporate Social Responsibility (CSR) u/s 135 r/w section 1 34(3)(o) of the Act. Section 206: (1) Where on a scrutiny of any document filed by […]
