Purpose of Form PAS-6 Reconciliation of Share Capital Audit Report on half yearly basis. Applicable rule: Rule 9A of The Companies (Prospectus and Allotment of Securities) Rules, 2014: MCA issues Circular dated September 10, 2018 amending the Companies (Prospectus and Allotment of Securities) Rules, 2014 by inserting Rule 9A: Issue of securities in dematerialised form […]
Companies Fresh Start Scheme, 2020 (CFSS, 2020) As Per the Provision of Companies Act, 2013, it is a Mandatory for all companies to do Annual Statutory Compliances By filing the Annual Return and Financial Statements. Apart From this Various other Statements, documents, returns etc. are also required to be filed within prescribed time Limits. Filing […]
(Human is a natural person, whereas company is a legal person) 1. What is a company? Company is nothing but simply a type of business organization to conduct business /trade/ commerce. Company has its origin from two Latin words (com) means together and (pany) means bread, that is to say “come together and earn bread”. […]
Services provided to foreign clients by commission agents in India has always been a bone of contention between the Government and the tax payers. Such services are always looked upon in the eyes of suspicion by the Government. Even during the service tax regime such services were marked with litigations though most of the judgements […]
Taxation of Long Term Capital Gain (LTCG) under section 112A vis a vis Taxation of Long term Capital Gain Prior to Finance Act, 2018 We all saw an Havoc amongst taxpayers when Finance Act, 2018 was announced in the union budget speech specifically among those assessees whose major part of their total income consisted of […]
DOs FOR TDS DEPOSIT AND TDS STATEMENT FILING: 1. Deposit TDS and file statement before due dates to avoid last moment hustle and late payment of Interest and Late Filing Fee Respectively. Note, the due date for filing Form 24Q for Q4 of FY 2019-20 is 31st July, 2020 2. Always double check TAN and […]
Implication of GST on Joint Development Agreement executed on and after 01st April 2019 Joint Development Agreement Under the Joint Development Agreement, hereinafter referred to as JDA, the land owner contributes its land to the real estate developer for construction of real estate projects and the real estate developer undertakes construction of real estate projects […]
Sec 194N: Tds on cash withdrawal of more than 1 crore Intro: To discourage the cash transaction and move to cash less economy, income tax department has introduced a new section 194N deduction of TDS on cash withdrawal exceeding Rs. 20 Lakh In case the individual receiving the money has not filed income tax returns […]
Introduction The Goods and Services Tax (GST) law have created several complexities by triggering large number of disputes between the taxpayers and the revenue. Various disputes relating to interpretation of the terms and provisions under the GST are arising. As a result, it is of utter significance that such issues are discussed comprehensively One such […]
A Salaried man can receive VRS more than once in his lifetime. But he can plan his tax liability only once. VRS (Voluntary Retirement Scheme) – VRS is often offered by the corporates for retrenchment of its surplus work force and directly to cut short it’s one of the major operating expense in form of […]
