The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain parts of the country. […]
This article aims to give a brief overview of the Agency Problem as it exists in the Indian scenario. We will be analysing the three different types of agency problems and also discuss the best legal strategies to resolve them.
The board of directors of a company is primarily an oversight board. It oversees the management of the company to ensure that the interest of non-controlling shareholders is protected. It also functions as an advisory board.[1] This paper is divided into two parts. The first part of the paper talks about the corporate governance provisions […]
Big Clarifications by government on TCS on sale of goods w.e.f 1st Oct 2020 Analysis of New Section 206C(1H) 1. The Government of India has introduced a new Section 206C(1H) with regards to ‘Tax Collection at Source‘. Applicable to everyone having turnover of Rs. 10 crores in last financial year. 2. Every seller who has […]
Quick View: GSTR 2B : An informative statement Useful for : All taxpayer Effective from : August 2020 onward Available to download : 12th of subsequent month Nature : Static (data will not be changed once published) Introduction GSTN has incorporated a new functionality on its portal by enabling GSTR 2B with effect from August […]
Complete Analysis of Tax Collected at Source under Section 206C (1H) of the Income Tax Act, 1961 Tax Collected at source (TCS) is Income Tax which is required to be collected by the seller (Collector) from the Buyer along with the Price of Goods and applicable taxes. Provisions relating to tax Collected at Source has […]
Learn about the accounting treatment of refundable security deposit under Ind-AS 32 and Ind-AS 109. Understand the classification and reporting requirements for financial assets.
Understand the latest insider trading regulations in India. Learn about the prohibitions and exceptions introduced in 2019 to ensure legal trading practices.
The auditors play a very important role in overseeing the company’s financial matters. As per S. 141 of the Companies Act, 2013 (‘Act’) only chartered accountants can be auditors. S. 143 provides that the auditor of a company shall have access to the books of accounts of the company at all times.
HOWARD SMITH LTD. v. AMPOL PETROLEUM LTD. AND OTHERS PRIVY COUNCIL 14 FEBRUARY 1974 [1974] 2 W.L.R. 689 – [1974] A.C. 821 FACTS: There was a dispute between two companies to take over RW Millers. Both Howard Smith and Ampol held shares in this company. Ampol and Bulkships together held 55% in Millers. The directors […]
