Employee Stock Ownership Plan enables an employee to establish ownership in the company by obtaining its shares. Earlier, such plans were created by top companies for their employees at managerial level to incentivise them, and to develop a sense of ownership and belongingness in the organisation.
The Word of Caution and the Good News for Auditors: The auditor is now required to ensure zero outstanding of audit fee before signing current year audit report as per the Revised Code of Ethics. Legal Position as per Code of Ethics, 2019 Section 410.7 A1 A self-interest threat might be created if a significant […]
SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 vis-à-vis SEBI (Issue of Sweat Equity) Regulations, 2002 and SEBI (Share Based Employee Benefits) Regulations, 2014 The SEBI approved merger of SEBI (Issue of Sweat Equity) Regulations, 2002 and SEBI (Share Based Employee Benefits) Regulations, 2014 into a single regulation called the SEBI (Share Based Employee […]
All Companies registered under the Companies Act, 2013 (or previous acts) are required to file its financials and annual return with the Ministry of Corporate Affairs. The forms for filing financials and annual return are prescribed under Section 137 and Section 92, respectively, of the Companies Act, 2013. Forms AOC-4/AOC-4XBRL/AOC-4CFS/AOC-4 NBFC Under Section 137 of […]
Background of transitional credit: Ever since introduction of GST, the eligibility of the cess credit for carry forward in GST period or claiming of its refund under law has been subject matter of intense debate. Section 140 (1) of CGST Act originally allowed to carry forward CENVAT Credit which inter-alia included the Cess Credit also. […]
Section 17(5) of CGST Act denies input tax credit on the specific supplies received by a registered person. Input tax credit on motor vehicles used for transportation of persons is ineligible. We shall discuss the same in detail. According to Section 17(5) (a) of CGST Act, input tax credit is not available on motor vehicles […]
Learn all about trust creation, trust deed, and registration as per the Indian Trust Act 1882. Understand the types of trusts in India and how they are governed by the Indian Trusts Act.
Default in timely issuance of tax invoice, consequences (interest, penalty, prosecution), Compounding and Corrective measures Please find below write up around ‘Default in timely issuance of tax invoice, consequences (interest, penalty, prosecution), compounding and corrective measures’ for your kind perusal: Brief background: GST law is very specific and settled in terms of issuance of tax […]
Researching and learning about the courses you are considering to boost your career is common yet crucial. However, while learning about US CMA, stepping deeper and knowing more about its official course provider will give you much better clarity.
According to Section 2(1) (ZB) of the Trade Marks Act, 1999, a ‘trademark’ suggests that a mark that is capable of being delineated diagrammatically and capable of identifying the products or services of 1 person from those of others and will embody the form of products or their packaging and mixtures of colours. Legal protections […]
