Financial auditing is the process of examining an organization’s (or individual’s) financial records to determine if they are accurate and in accordance with any applicable rules (including accepted accounting standards), regulations, and laws. This process of auditing is carried out with different objectives, if objective of auditor is establish fairness of the financial result it […]
Distinguish between misrepresentation and warranty in insurance contracts. Explore the nuances of representations and warranties, their impact on policy eligibility, and the contractual obligations they entail. Gain insights into key legal distinctions, illustrated with relevant court decisions. Understand the importance of accurate statements, whether as representations made during negotiations or warranties included in the policy document. Navigate the complexities of insurance contracts with clarity.
When a company expands it requires additional funds. One of the many ways to raise additional capital for a listed company is rights issue of shares. If a company issues shares to the public at large, it may affect the voting rights of the existing shareholders of the company. So in order to avoid this […]
NBFC Registration Process and Cost for Different Types of Entities As per Section 45-IA of the RBI Act, 1934, no Non-banking Financial Company can commence or carry on the business of a non-banking financial institution without a) obtaining a certificate of registration from the Bank and without having a Net Owned Funds of Rs. 25 […]
Recently, the search engine giant Google announced that it would begin deducting United States of America (USA) taxes from payments to YouTube creators as early as June 2021 from creators outside of the USA. Earnings from viewers in the USA through ad views, YouTube Premium, Super Chat, Super Stickers, and Channel Memberships will be taxable. […]
A Private Limited Company can be incorporated with a minimum of 2 directors (DIN) and a maximum of 20 directors (DIN) and has a minimum of two stockholders and a maximum of 200 stockholders. Owners of the company have limited liability to creditors. In case of a default, banks/creditors can sell only company property but […]
This Topic covers Chronological Sequence on the subject matter from British Regime to Indian regime including highlights on famous case laws and the need for 46th constitutional amendment in 1982, Synopsis on the case of Calcutta Club Ltd, Discussion on Issue in Service Tax Perspective (Pre or Post Negative List),Position under GST Regime, Need for […]
Purpose of advance ruling is to minimise disputes by providing clarity on confusing matters so it tries to avoid litigation in future. If you see name i.e. advance ruling, this name itself signifies that ruling in advance or decision in advance. You must be aware that few items (petroleum and petroleum products (like petrol, HSD […]
The Reserve Bank of India (RBI) can exercised the power under The Reserve Bank of India Act, 1934 to issue or cancel the certificate of Non-Banking Finance Company (NBFC) in India. The Reserve Bank of India plays the key role of the Regulatory body and an authority to supervise and regulate NBFCs in India. RBI grants […]
In Finance Act, 2020 Government came with section 194N ‘Payment of certain amounts in cash’, Applicable from 01st July, 2020, which states that : Every person, being,— (i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that […]
