Prior to Companies Amendment Act, 2020 As per Section 135, Companies having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year were required to constitute a Corporate Social Responsibility Committee […]
Whether requirement of pre-clearance is applicable for exercise of employee stock options? Whether trading in ADRs and GDRs by employees of Indian companies who are foreign nationals is covered under provisions of PIT Regulations on code of conduct?
Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020) This Flyer contains background information for importers and other stakeholders and seeks to provide guidance on compliance of CAROTAR, 2020, which have come into force w.e.f. 21.09.2020. 1. Free Trade Agreements (FTAs) 1.1 Trade agreements are integral part of a country’s trade […]
Many individuals who are receiving income under the head salary ask about the methods which can legally help in saving tax on salaried people. It is a fact that are not allowed to claim expenses except those specified under the Income Tax Act. Therefore, they can only invest in or claim certain expenses which are […]
The proper officer will examine the GST registration application filed by the applicant in Form GST REG-01. While examining, if the proper officer requires an additional information/ document/ clarification, then the notice in Form GST REG-03 will be served to the applicant. In Form GST REG-03, the proper officer is required to mention the appropriate […]
E-Invoice means a taxable person supply goods or / services to the recipient and want to raise an invoice for that supply of goods or / services, they can raise the digital invoice for goods and services provided . The taxable person can generate at the Government Common Portal of GSTN. E- Invoice is a standard format of the invoice recommended by GSTN for the GST registered persons under GST Law, 2017.
Signatures are used to authenticate a Document and by authenticate, I mean is to prove or serve to prove to be real or true or genuine. A document without the signatures of the creator or bearer of such document has no validity in the eyes of law as it cannot help determine the rights, liabilities, obligations, and duties that have been created or are purported to be created by such document concerning the parties associated or affected by the said document. Only a document in written form can be signed.
Corporate Governance is one of the important pillars for managing a corporate entity. It ensures transparency and ethical behavior in dealing with laws, procedures and practices while making informed managerial decisions for the benefit of all the stakeholders.
The Ministry of Finance, Government of India has now classified instruments issued under Foreign Exchange Management Act, 1999 (FEMA) as debt and non-debt instruments and has notified the rules/ regulations in this regard. The Finance Act of 2015 had proposed certain amendments to the Foreign Exchange Management Act, 1999. The Central Government (“CG”), vide sections […]
Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is long term capital gain.
