Step-1 – Convene and hold a Board meeting -Notice shall be given at least 7 days before the meeting -Required Resolutions must be passed at the Board Meeting. -To Fix time, date and venue for holding a general meeting of the company for passing a special resolution. -Approve notice, agenda and explanatory statement to be […]
While the governments across the globe are battling the novel Coronavirus, the Ministry of Finance in its recent Notification No. 20/2020– Customs dated 9th April, 2020 has lifted (i) customs duty; and (ii) whole of health cess charged on the following below-mentioned articles until 30th September 2020: Sr. No. Description of Goods Chapters Standard Rate […]
Taxation of Periodic Interest income earned from investments in bonds and Debentures :- When Investments is made in Listed /Unlisted Securities being Bonds and Debentures in a currency other than Indian Currency by the Non Residents. FAQs on above – 1) What is the treatment of interest income earned on bonds and Debentures subscribed in […]
WHO IS AN INDEPENDENT DIRECTOR? Independent Director is Director other than a managing director or a Whole time Director or a nominee Director who fulfils all criteria as given in Section 149(6) along with Rule 4 and Rule 5 of the Companies (Appointment and Qualification of Directors) Rules, 2014. In general sense, an independent director […]
Tax/GST treatment to be given in case of cancelled flats GST compliance for real estate has always been a nightmare considering the day to day changes in the rates, tax structure, GST returns to be filed so an and so forth. Assessee to be tax compliant has to look for ways and means to make […]
Clarification on passing of ordinary and special resolutions by companies under Companies Act,2013 and rules made thereunder on account of the threat posed by COVID-19 > Circular –Clarification on passing of ordinary and special resolutions by companies under the Companies Act,2013 and rules made thereunder on account of the threat posed by COVID-19 [Ministry of […]
Classification of Goods as per Notification – That the Central Government in exercise of its powers under Section 9 of the CGST Act has issued Notification No.1/2017-CT(Rate) dated 28th June, 2017, which has been amended from time to time. The said notification has prescribed the rate of tax (Schedules) for specified goods under CGST/IGST (Rate Notification).
Section 79 has no application in the absence of change in the beneficial voting power. Even after transfer of shares in the assessee company by its ultimate holding company to its another subsidiary, beneficial ownership of the assessee company continued to vest with the same holding company and therefore provisions of section 79 would not apply.
Investing should not be made complicated. Putting your hard-earned money to work is all about helping you get what you want while making sure you can sleep easily at night. There are handful of rules for investors to keep in their mind for successful investing. Below given is the list of the nine considerations that […]
Arjuna, the confusion of whether GST is payable under RCM on Director’s remuneration has raised due to the recent order passed by Authority of Advance Ruling (AAR) of Rajasthan in the case of Clay Craft India Pvt Ltd, & AAR of Karnataka in the case of Alcon Consulting Engineers (India) Pvt Ltd. These advance rulings state that remuneration paid to the Director of the applicant company is liable to tax under reverse charge mechanism. Let’s discuss about this in detail.
