1. Apply Free PAN on the basis of Aadhaar: Central Board of Direct Taxes (CBDT) inserted new facility of PAN allotment on the basis of Aadhaar card. Finance Minister Nirmala Sitharaman announced this new facility apply for instant PAN in her speech of Union Budget 2020. Now, Instant PAN allotment in near to real time is […]
1. The Income Tax Act is riddled with various exemptions and deductions which make compliance by the taxpayer and administration of the Income Tax Act by the tax authorities a burdensome process. In order to provide significant relief to the individual taxpayers and to simplify the Income-tax law, this Budget propose to bring a new […]
Benefits of Listing on stock Exchange to companies and investors. Stock exchanges permit businesses access to capital and the chance to boost their reflectivity and public image. Knowledgeable businesses can harness the control of stock exchanges to develop and heighten their companies.
-Every unlisted public Company shall issue securities only in dematerialized form and facilitate dematerialization of all its existing securities. [Rule 9A(1) of the companies (Prospectus and Allotment of Securities) Rules, 2014]. -A Private Company can also obtain DEMAT connectivity for the purpose of dematerialization of shares, with one of the depositories or with both provided […]
I) Introduction: 1. In order to understand the topic of partly paid shares, we need to understand the base of its formation or rather from where it is derived. 2. As per section 2(20) of the Companies Act, 2013, A Company is defined as “an incorporated association which is an artificial person, having a separate […]
ORDERS SUPREME COURT Duncans Industries Ltd. Vs. A. J. Agrochem [Civil Appeal No. 5120/2019] The AA rejected an application under section 9 on the ground that the provisions of the Code are not applicable unless the OC seeks consent of the Central Government, in view of section 16G(1)(c) of the Tea Act, 1953, which provides […]
Central Government Personal Guarantors to Corporate Debtors The Code classifies individuals into three classes, namely, personal guarantors (PGs) to corporate debtors (CDs), partnership firms and proprietorship firms, and other individuals, to enable implementation of individual insolvency in a phased manner. The Central Government, vide a notification dated November 15, 2019, appointed December 1, 2019 as […]
A company is an amalgam of many stakeholders. Each stakeholder, however, has a unique objective function, with a distinct set of rights, interests, and level of engagement with the company. Consequently, the interests of one stakeholder may conflict with those of another and / or of the company.
1. One of the important feature proposed in the Budget 2020 under Customs Law is the implementation of the system of Duty Credit Ledger. Sec. 51B is proposed to be inserted in the Customs Act, 1962 to implement the same. Said provisions reads as under: “51B. (1)The Central Government may, by notification in the Official […]
The registered office of a company is the address of the company in the register of the company maintained by the registrar of companies (ROC). As per section 12 of the companies act, it is mandatory to maintain the registered address of the company, which should be a physical address capable of receiving official communication […]
