ESI stands for Employee State Insurance managed by the Employee State Insurance Corporation which is an autonomous body created by the law under the Ministry of Labour and Employment, Government of India. What are the Conditions for eligibility criteria? Under Sec2 (12) of the ESI Act, 1948 any individual working in the non-seasonal factory with […]
♦ Introduction Initially, reconciliation of Share Capital Audit Report was applicable only for Listed Companies and was required to be filed with Stock Exchanges on a quarterly basis as per SEBI (Depositories and Participants) Regulations. Now, Central Government (Ministry of Corporate Affairs) has introduced a similar concept under the Companies Act, 2013 for unlisted public […]
A panel of State Finance Ministers veered around to agree on a proposal to levy 3% GST on sale of old gold and jewellery to check tax evasion, Kerala Finance Minister Thomas Isaac said. The Group of Ministers (GoM) also decided to implement the e-way bill system for transportation of gold within a State.
Extension of the Annual General Meeting (AGM) for the Financial Year ended 31st March,2020 by MCA Due to the widespread of COVID-19 and social distancing norms and consequential restrictions linked thereto, MCA has received several representations to allow companies to hold their Annual General Meeting for the financial year ended on 31st March, 2020 beyond […]
The term ‘Review’ means re-examine or verification. In a legal sense filing of application before the Hon’ble court to re-examine the material of facts and verification of records relating to pronounced judgment is called as review petition. It is legally given another chance to the aggrieved parties to file review petition before the court to rectify order on an error apparent on the face of the record.
Deduction of taxes at source has been an integral part in the history of Indian Income Tax. However the concept of TDS has also been incorporated in the GST Act(s). The basic concept remains the same that is withholding a certain percentage of amount as tax before paying the contract value to the supplier in […]
Checklist on SS-4 Report of the Board of Directors Reserves 1. If amount is transferred to reserves then mentioned the same. 2. If no amount is transferred to reserves the note should be mentioned in report. Dividend 1. Amount of dividend per share, percentage and dividend distribution tax thereon is to be mentioned. 2. Amount […]
In part I of the article we have discussed, Key consideration to comply within the timelines for FY 2019-20. In this part, i.e. Part II of this article we would discuss Procedures to be followed for the compliance of above-mentioned consideration and Practical challenges/caution to comply with the above-mentioned provisions. I. Procedures to be followed for […]
We are all aware that COVID 19 pandemic has a great impact on the economy and non-compliance under any tax law due to cash flow has led to the payment of interest, late fee, and penalty. Generally, September is the compliance month for tax laws such as Income tax or GST law (previous financial year […]
It is an ongoing debate since Service tax days that which functions of the Government are taxable and which are exempt. Recently Bangalore bench of the Tribunal has analysed this complex issue and here are the three major takeaways from the landmark decision on this issue…
