ACCOUNTING & TAXATION GST on Individual Advocates including Senior Advocates and Firm of Advocates Advocates has privilege of not to pay GST on their output supply, while the taxes on their supplies has to be paid by recipient under Reverse Charge Mechanism (RCM). In this write up, I made a try to answer the questions … Read More →
COMPANY LAW Bonus Issue of Shares under Companies Act, 2013 Article explains The source out of which Bonus Shares shall be issued, Source which company shall not utilise for the purpose of issue of Bonus Shares, Secretarial formalities to be complied with for Bonus Share Issue, Company not eligible for issuing bonus shares and Provisions … Read More →
ACCOUNTING & TAXATION GST & Indian Economy The growth of Indian economy & growth in collection of GST both are positively correlated to each other. Goods and Services Tax is defined as the giant indirect tax structure designed to support and enhance the economic growth of a country. GST is consumption-based tax and therefore, it … Read More →
COMPANY LAW All about dormant company (section 455) Dormant companies The companies Act, 2013 has recognized a new set of companies called as dormant companies. As per Section 455(1) Where a company is formed and registered under this act for a future project or to hold an asset or intellectual property and has no significant … Read More →
ACCOUNTING & TAXATION Exemption under Section 54 and Section 54F There is always a doubt and confusion in the industry among professionals as well as tax payers regarding availment of exemption under section 54 and 54F against capital gains. Whether investment is allowed to be made only in one residential property or more than one … Read More →
COMPANY LAW Private Company- Meaning and Mandatory Compliances 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 … Read More →
ACCOUNTING & TAXATION Relief for Compliance Related to GST in Tax Audit Report The Government vide CBDT circular No. 10/2020 Dated 24 April 2020 deferred reporting of Compliance related to Goods and Service Tax (GST) in the income tax audit reports by a year. The move is a major relief to businesses struggling to cope … Read More →
COVID-19 —The Law and Limits of Quarantine As COVID-19 spreads around the globe, governments have imposed quarantines and travel bans on an unprecedented scale. China locked down whole cities, and Italy has imposed draconian restrictions throughout the country. In the United States, thousands of people have been subjected to legally enforceable quarantines or are in … Read More →
COMPANY LAW Conversion of loan into shares of Company Conversion of loans into shares of a Company are a common practice in the market as many companies that had borrowed loans from its Directors, financial Institutions or from anybody corporate is under the obligation to pay such debt within the time prescribed as per the … Read More →
ACCOUNTING & TAXATION Check List for Making Form 15CA & 15CB by Professionals Nowadays Form 15CA and 15CB are of a lot importance. We professional atleast have to issue one Form 15CB every day and form 15CA is also to be made by the professional on behalf of the client. Form 15CA is a Declaration … Read More →