The Right to Information (RTI) Act is a law enacted by the Government of India to provide Indian citizens with the right to access information from public authorities. The RTI Act allows any citizen of India to request information from a public authority, which is required to reply expeditiously or within 30 days. To file […]
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ROC COMPLIANCE CALENDAR FOR THE MONTH OF OCTOBER 2021 & RECENT UPDATES 1. MCA extends due date for AGMs by two months Companies get till end November to hold AGM for financial year 2020-21 In what could come as some respite for companies, especially small and medium ones, the Ministry of Corporate Affairs (MCA)
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REGISTRATION OF SECTION 8 COMPANY FOR UNDERTAKING CSR ACTIVITIES As per Rule 4(2), Companies can spend on CSR activity through any of the below 3 ways. 1. Eligible Companies coming together to form a Trust, Society, or Section 8 Company for conducting CSR activities. Such Companies need not be subsidiary, associate or holding Companies.
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ALL YOU NEED TO KNOW ABOUT ALTERNATIVE MINIMUM TAX In order to encourage investment in various industries, the Government has introduced various profit linked incentives and deductions. Taxpayers who are eligible to claim such dedcutions/incentives pay tax zero even though if they have capacity to pay normal tax. Considering the welfare of the Country, Government has
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What is Input Tax? “Input Tax” means the GST Taxes (CGST, SGST, IGST) charged on any supply of goods or services or both made to a registered person in the course or furtherance of his business and includes such tax payable on reverse charge basis- but excludes tax paid under composition levy. Who is Eligible
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The Maharashtra Authority of Advance Ruling (AAR) ruled that Input Tax Credit cannot be claimed on Indirect Expenses like rent, commission, professional fees, telephone incurred for purpose of business. The applicant, Deccan Wheels purchases second-hand cars (goods) and after minor processing on it such as change of tires, change of battery, painting, denting, repairs, servicing,
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Process and Eligibility Criteria for Initial Public Offerings (IPO) The Initial Public Offering (IPO) is a very important point at which an unlisted company decides to go public for the first time by publicly listing its shares and selling its stocks to the investors. It is an offer of shares typically made to raise capital for
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PRESUMPTIVE TAX SCHEME UNDER INCOME TAX ACT Income Tax Act, 1961 introduced the presumptive taxation scheme for the relaxation of small taxpayers who are not maintaining books of accounts and from getting their accounts audited. An individual who earns income from Business or Profession usually maintains a books of accounts which includes profit and loss,
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NEW INFORMATION WHICH WILL BE AVAILABLE IN FORM 26AS What is Form 26AS? Includes info on tax deducted on your income by deductors Details of tax collected by collectors Advance tax paid by the taxpayer Self-assessment tax payments Regular assessment tax deposited by the taxpayers (PAN holders) Details of refund received by you during the
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FAQ’S ON COMPANIES FRESH START SCHEME (CFSS) The Whole world is fighting against the pandemic and Government has provided various relaxations. The Ministry of Corporate Affairs has launched a scheme called “Companies Fresh Start Scheme,2020” to give a fresh start to defaulting companies and to give immunity against the prosecution to such companies by filing
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