Apart from doing business in form of company, there are other ways of doing business also like partnership which is most preferred. However, there are some demerits of partnership when business start going down. That is why a concept was introduced having the benefits of company as well as partnership and which is called Limited […]
Matter to be analysed- Gujarat High Court allows the refund of unutilized ITC on Input Services. Ever since the advent of GST the refund of ITC has been a matter of grave concern and a tussle for the taxpayer to get it conveniently from revenue authorities who are busy jostling for ramping up the collection, […]
Legal Provision:- Section No. 185: 1. No company shall, directly or indirectly, give advance any loan, including any loan represented by a book debts to or give any guarantee or provide any security in connection with any loan taken by- Any director of company or of a company which is its holding company or any […]
Like Trust and Society, Section 8 Company is also a legal form that NGO generally takes. This Form of organization is governed by Companies Act, 2013. These are the Limited Companies registered under Companies Act.
ADVANCE TAX As per section 208 of the Income Tax Act 1961 a person shall be liable to pay advance tax if Tax Liability exceeds Rs. 10,000 after deducting the amount of TDS,TCS. Every Assesses shall estimate his Income and Tax Liability for any previous year and Income Tax so estimated shall be paid in […]
Starting a company of your own may be a dream come true for you. However, most frequently, the persons intending to start a company are unaware of the important terms or compliances failing to comply which can lead them to expend hundreds or thousands in penalties. Apart from penalties, the company and its officers may also be required to […]
Every Mutual Fund scheme offers us two modes of investment which are DIRECT & REGULAR. In this article we will know what both these plans consists, what are the difference between them & to whom these plans are feasible. This article will help an investor of mutual fund to decide for themselves before investing. DIRECT […]
Notices being issued for Non-Payment of Output Tax Liability under GST in cash because Output Tax Liability being discharged by a registered person through utilization of Input Tax Credit. Now-a-days the Department is sending notices to get clarification in regard of non-payment of Output Tax Liability because such liability being discharged by the person through […]
Section 263 of the Income-tax Act, 1961 (‘the Act’) provides revisional power to Principal Commissioner (‘Pr. CIT’) or Commissioner (‘CIT’) if he is of the opinion that an order passed by the AO is erroneous and prejudicial to the interests of the revenue.
AGM Due Date Impasse for FY 2019-20 gets Finally Resolved. MCA Extends AGM & Annual Accounts Laying Date for around 12 Lakh Indian Companies by Three Months to 31.12.2020, from existing due date of 30.9.2020. 1. Legislative Provisions By virtue of the provisions of first proviso to section 96(1) of the Companies Act, 2013, every […]
