FOSS VS. HARBOTTLE (Hereinafter referred as Foss rule) Facts: F and T, two shareholders of a company brought an action on behalf of themselves and all other shareholders against directors and solicitors of company, alleging that Directors and solicitor’s carried illegal transaction thereby causing losses to the company. The transactions were fraudulent and illegal whereby […]
Limited Liability Partnership (LLP) – The Limited Liability Partnership Act 2008. In this article, we will discuss specific partner topics, LLP formation, partners and relationships, and their level of responsibility and partner contribution. Financial Audit / Disclosure, LLP Foreign, from Legal Element relating to Partnerships and LLP from CSEET Legal and Business Environment Subject. Also […]
Introduction External Commercial Borrowings (ECB) are the borrowings taken by an eligible entity in India for commercial purpose from any recognized entity outside India. As funding by the companies through debt has been traditionally been a preferred mode of funding due to inherent advantages such as security creation, minimum guaranteed returns, and tax optimization for […]
CSR Policy Amendment Rules 2021 And CSR Amendments in Companies (Amendment) Act, 2020 INTRODUCTION The Ministry had set up a High-Level Committee on CSR in 2018 chaired by then Secretary, Corporate Affairs Injeti Srinivas for amending the law aimed to strengthen the Corporate Social Responsibility ecosystem, by improving and strengthening disclosures and by simplifying compliances. […]
If you want to sell your house property there are certain income tax implications that will help you to save your tax and help to build a better decision about selling your house. 1. If a property is sold within three years of buying it, any profit from the transaction is treated as a short-term […]
This is my 1st article and I covered very interesting topic ‘Old Vs New Tax regime‘ because after becoming Chartered accountant my relatives and friends ask which tax regime they should choose. Here we covered the following points – 1. Applicability 2. Tax Rate Structure 3. Exemptions & Deductions 4. Other Points 1. Applicability :- […]
Case Analysis on Cairn v. India: International Commercial Arbitration with special reference to United Kingdom-India Bilateral Investment Treaty Background On January 20th 2012, the Supreme Court of India gave its verdict in the Vodafone case. The case was regarding tax invasion in regards to capital gains in lieu of sale of shares. The court held […]
It’s been a year of this Global Pandemic and a year of the hot discussion of MSME too. Although, the MSME is an older concept but it took a high rise in the discussions when lot of businesses were getting disrupted due to Covid-19. Some of the existing entities took this pandemic as an opportunity […]
Nowadays, the Business houses are entering into sale and lease back transaction of capital assets in order to meet the working capital requirement of the transaction. The Sale and lease back transaction needs to be carefully analysed to determine the correct tax implications. A humble attempt to list down the GST implication on sale and […]
Whenever Company has requirement of fund to enhance its business, it has two options – First- Owned Fund Second- Borrowed Fund ♦ OWNED FUND: (Sharing of ownership and control) 1. Equity Share Capital 2. Preference Share Capital 3. Debentures ♦ BORROWED FUND: (Interest Cost) 1. Financial Institutions 2. Commercial Banks 3. Inter Corporate Loan 4. […]
