Under the Income Tax Act, the orders given by the Appellate Tribunal comes under the preview of section 254. The section states that once both parties are given equal opportunity of being heard, the tribunal can put forth the decision that it thinks fit. Further, under the second subsection, it is stated that if there […]
Price earning ratio, commonly known as PE Ratio is the most commonly used tool for valuing the company. Thumb rule being “Lower the PE, better is the valuation of the company”. But this very tool could be as deceptive as it could become. So, this article will highlight 3 instances where despite having a good […]
Background: Section 2(16) of the Companies Act, 2013 defines charges also as to mean an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage. Types of Charges: 1. Fixed or specific Charge: it’s a charge on the assets which […]
Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No: 140/10/2020 – GST dated 10th June 2020 clarified the levy of GST on Director’s Remuneration. Director’s remuneration which is declared separately ‘Other than Salaries’ in the Company’s accounts and subjected to TDS under Section 194J of the IT Act as Fees for professional or […]
The Reserve Bank of India vide its communication dated June 8, 2020 has placed on its web site a draft document titled “Comprehensive framework for sale of loan exposures” for public comments to be received not later than 30th June 2020 which will be applicable to Scheduled Commercial Banks, All India Financial Institutions like NABARD, […]
> Director’s / Board Report As a move towards greater corporate transparency, a Directors/Board’ report is a financial document that is required to file at end of the financial year by the Companies. Section 134 of the Companies Act, 2013 has laid down provisions related to Financial statement, Board’s report, etc. I. Contents of Board […]
Section 460 have the overriding effect on any other section of the Companies Act, 2013, So as per Section 460, notwithstanding anything contained in companies Act, 1. where any application required to be made to the central Government under any provision of this Act in respect of any matter is not made within the time specified therein, that Government may, for reason to be recorded in writing condone the delay
Meaning :- Strike Off means removing the name of the Company from the Register of Companies maintained by Registrar of Companies (RoC). It is more like a Closure of the Company and the Company will not be in existence after being Struck Off and cannot perform any operation thereafter. Relevant Provisions :- Section 248 of […]
Law of Injunctions : Temporary Injunction including ex-parte temporary injunction, Perpetual Injunction and mandatory injunction 1. The law of injunction in our country is having its origin in the Equity Jurisprudence inherited from England who borrowed it from Roman Law. It is basic principle of our law that if there is a right there should […]
The GST Council has made the following recommendations on Law &Procedures changes during the 40th GST Council Met under the Chairmanship of Union Finance &Corporate Affairs Minister Smt Nirmala Sitharaman Reduction in Late Fee for past Returns: As a measure to clean up pendency in return filing, late fee for non-furnishing FORM GSTR3B for the tax […]
