Research performed among the working women in India concluded that a woman endured an event of harassment every 42 minutes. This amounts to the maximum with an average of 34 incidents a day and 240 events per week and also a surprising 1028 events within a month. It is an alarming range to affect as […]
Appointment of auditor to fill casual vacancy Provisions applicable: Section 139(8), Section 140 (2) and Rule 8 of Companies (Audit and Auditor) Rules, 2014. This article covers scope of appointment of auditor in case of casual vacancy except in the case of Comptroller and Auditor General of India and sample formats thereto. Instances of casual […]
1. MEANING OF BONUS SHARES: Bonus Shares refers to a further issue of shares made by a company having share capital to its existing shareholders without receipt of any consideration from the shareholders for issuance of such shares. It is an offer of free additional shares to the existing shareholders in proportion to their existing […]
The Company post incorporation can change its name under the following circumstances: (a) Conversion of name from private to public, or (b) Conversion of name from public to private, or (c) Change of name from ABC limited to XYZ limited. (d) Any other mode of restructuring as permitted under Companies Act. Under a given article, we […]
1. The CBIC vide Notification No. 14/2020-Central Tax, as amended by Notification No. 71/2020-Central Tax mandates that the taxpayers with an annual turnover of more than Rs.500 crore in any preceding financial year (starting from 2017-18) are compulsorily required to display QR (Quick Response ) code on their B2C invoices from 1st December 2020 (initially […]
Whether tax paid on intra-state inward supply in one state can be used to pay output tax liability in another state. INTRODUCTION:- Many Businessman come across the transaction where he received the Intra state supply and paid GST (i.e. CGST & SGST) in a state where he does not have GST Registration. Now Question is […]
बजट प्राव्धानो पर सीधी और पते की बात। Straight and honest talk on Budget amendments. 1. TDS at Double Rate in case of Non-Filers of ITRs (Section 206AB): The Finance Bill 2021 has proposed to insert a new section 206AB in the Income Tax Act, w.e.f. 1.7.2021 which mandates that the deductor will be required […]
For extending the benefits of presumptive taxation to specified professionals, Section 44ADA was inserted into the Income Tax Act. Earlier, this scheme was only applicable to small business owners. This tax scheme reduces the burden of compliance for the small professions and reinforces the ease of doing business. Under this scheme of taxation, the profit […]
A plain reading of rule 86A signifies that the intention of the Government is only to curb the menace of availing fraudulent credit but it has many unintended ramifications. There is also no clarity on the scope of the term ‘Reason to Believe’ in the given Rule 86A in sub-rule (1)(b)
CSR Policy & Provisions (Under the Companies Act 2013) Recent Changes & Amendments 2021 Corporate Social Responsibility (CSR) The concept of CSR rests on the ideology of ‘GIVE AND TAKE’ CSR is a concept whereby companies not only consider their profitability and growth, but also the interest of society and the environment by taking the […]
