The Ministry of Corporate Affairs has issued a General Circular No. 07/2019 dated: 27.06.2019 and has clarified the following: 1. As per the Companies (Appointment and Qualification of Directors) Rules 2014, every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, […]
Government has brought in the Taxation Laws (Amendment) Ordinance, 2019 and announces major relief in corporate tax for domestic companies, in order to boost the Make in India initiative. Corporate tax reduced to 22% (Effective Tax Rate 25.17% inclusive of Surcharge and Cess) for domestic companies while for new manufacturing companies, tax rate has been brought […]
Q.1 Kinds of Share Capital? The share capital of a company limited by shares shall be of two kinds, namely:— (a) equity share capital— (i) with voting rights; or (ii) with differential rights as to dividend, voting or otherwise in accordance with such rules as may be prescribed; and (b) preference share capital: COMMENT: Provided […]
Q.1 What is Private Placement? The term private placement refers to the sale of securities to a small number of private investors to raise capital. These private investors include mutual fund investors, banks, insurance companies and etc. Private placements are different from public issue since in the latter one the shares are sold in the […]
Since the inception of the Goods and Service Tax in India, GST has been a matter of discussion for every layman and experts in the country. Like every coin has 2 sides, the implementation of GST in the country also has arguably many merits and demerits as compared to the earlier subsumed taxes. Moving on […]
Article 246A of the Constitution, which gives powers to the Parliament and the Legislatures of the States to make law to provide levy and collection of goods and services tax (hereinafter referred to as the GST), runs as follows:– “246A. (1) Notwithstanding anything contained in articles 246 and 254, Parliament, and, subject to clause (2), […]
WHAT IS MEANING OF PRIVATE LIMITED COMPANY? A private limited company is a company which is privately held for small businesses. The liability of the members of a Private Limited Company is limited to the amount of shares respectively held by them. Shares of Private Limited Company cannot be publically traded. Mandatory compliances of Private […]
How to get a Certificate for lower Deduction Tax for Income accruing/arising in India Q1. In case of non-residents, taxes are withheld, i.e. deducted at source from the payment in relation to income accruing and arising in India. Is there any provision in the Income Tax Act, 1961 for obtaining certificate for lower deduction of […]
The Supreme Court has granted the Resolution Professional of Amtek Auto 21 days to invite fresh bids. This need to invite fresh bids has been necessitated because of backtracking of Liberty House, a London based Business House which amongst other Resolution Applicants had submitted its resolution plan where it offered Rs.4025 crore, which included an […]
Section 230 and 232 of Companies Act 2103 read with rules Companies (Compromise, Arrangements and Amalgamation) Rules, 2016 Step: 1 AUTHORISATION IN MOA AOA Step: 2 DRAFT SCHEME OF MERGER Step: 3 CALL BOARD MEETING ⇓ Call Board Meeting and approve following resolutions: a. Approve the draft scheme of Merger. b. Authorization to filing of […]
