Can a sole/single member complain against the affairs of the company formed for charitable objects for the conducted in a manner prejudicial to public interest under section 241 of the companies act The fundamental principle defining operation in democracy is that the rule of majority shall prevail. However, it is also necessary to ensure that […]
Dispute Resolution scheme came by Finance (No. 2) Act ‘2019 to give major relief to the taxpayers having unpaid outstanding liability as on 30-06-2019 with regards to Service Tax , Excise and under 26 other Indirect Tax enactments and Scheme is named as ‘Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019′. Let summarize the important aspects […]
Work pressure, deadline pressure, boss pressure, colleague non co-operation pressure, family responsibility and expectation pressure, relationship pressure, children’s education and future related pressure, after retirement life pressure and in case of student, study pressure, exam pressure, result pressure etc. List just goes on and on. If you see the above list, every aged person is […]
Change in GST Rates The council has recommended to change GST tariff rate for hotels as follows: Transaction value per unit per day up to Rs.1000/- Nil rate, from Rs.1000/- to Rs.7500/- 12% and above Rs. 7500/- tax at 18%. This will have direct impact on consumers by benefiting in the lower taxes. To reduce outdoor catering […]
On September 20, 2019 Government of India on its Gazette Published an The Taxation Laws (Amendment) Ordinance 2019 to amend and add few sections in Income Tax Act 1961 which is expected to give a very necessary First Aid to otherwise bruised economy. 1. Insertion of two new sections ( 115BAA and 115BAB) i. Section […]
Taxation Laws (Amendment) Ordinance, 2019 has brought favourable amendments for corporates. However one amendment has taken the Industry to a dilemma. The dilemma is whether MAT credit entitlement available will be allowed to those opting for favourable rate under Section 115BAA. Section 115JB(5A) has been amended to provide that provisions of Section 115JB shall not be […]
Tax cannot be levied and collected without authority of law. Tax collected becomes revenue of the Union or the State. Taxes are levied for public purposes and benefit of tax collected cannot be given to taxpayer. Therefore, where any amount is leviable under the law as tax, it cannot be refunded to the taxpayer. Tax […]
The objective of this document is to summarize all the tax concessions, applicable w.e.f FY 2019-20, announced by Finance Minister, Nirmala Sitharaman with intent to boost the economy and to promote ‘Make-in-India’. Highlights of Tax Concessions by Finance Minister press Conference on 20 Sep 2019 1. Tax Concessions for Existing Domestic Companies. 1.1. Option has […]
The GST Council in its 37th meeting held on 20th September 2019 at Goa discussed and approved: (i) Some policy recommendations; (ii) certain amendments in the GST Law; (iii) reduction in GST rates for certain category of goods and services; and (iv) clarifications on GST rates for existing goods or services; 1. Changes related to […]
An Independent Director is a non-executive director of a company and helps the company in improving corporate credibility and governance standards. Section 149 of the Companies Act, 2013 falls under chapter XI – Appointment and Qualification of Directors. The applicable rules are Companies (Appointment & Qualification of Director) Rules, 2014.
