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PKM Under the Companies Act, 2013, companies are required to maintain various statutory registers and records. These registers and records help in ensuring compliance, transparency, and accountability. Here are some key registers and records that need to be maintained: It is important to note that the Companies Act, 2013, provides specific requirements and formats for maintaining … Read more
Under the Companies Act, 2013, board meetings are an essential aspect of corporate governance. Here are some key points related to board meetings under the Companies Act, 2013: It is important to note that the Companies Act, 2013, contains several provisions related to board meetings, and the above points provide only a brief overview. It … Read more
ROC (Registrar of Companies) forms are the prescribed forms that companies need to file with the ROC for various purposes, as per the provisions of the Companies Act, 2013. Here are some of the common ROC forms: These are some of the common ROC forms. However, there are many other forms that companies may need … Read more
Foreign Contribution (Regulation) Act, 2010(FCRA) In the Indian context, FCRA refers to the Foreign Contribution (Regulation) Act, 2010 and amendment there to. FCRA was enacted by the Government of India to regulate the acceptance and utilization of foreign contributions by certain individuals, associations, organizations, and companies. The primary purpose of the FCRA is to ensure … Read more
GST (Goods and Services Tax) registration is mandatory for businesses whose turnover exceeds a certain threshold. GST registration can also be voluntarily obtained by businesses with turnover below the threshold limit, as it can provide several benefits such as input tax credit, legal recognition, and easier compliance. Who needs to register for GST? Businesses with … Read more
Goods and Services Tax (GST) is a tax levied on the supply of goods and services in India. If you are registered under GST, you are required to file regular GST returns. The due dates for GST return filing depend on the type of taxpayer and the turnover of the business. GST returns are the … Read more
Residential Status: Section 6 of income Tax Act, 1961 deals with the residential Status of Person. There … Read more
Tax on Dividends Received From Specified Foreign Company [Section-115BBD] Income of a Sikkimese individuals[Sec 10(26AAA)] The following income, which accrues or arise to a sikkimese individuals, would be exempt from income tax- However, this exemption will not be available to a Sikkimese woman who, on or after 1st April, 2008, marries a non-sikkimese individuals. Sikkimese … Read more
The ITAT, New Delhi in ACIT v. Sh. Sanjay Choudhary [ITA No.1274/Del/2020 dated January 23, 2023] has affirmed the decision of the Appellate Authority holding that the exemption claimed under Section 54F of the Income Tax Act, 1961 (“the IT Act”) would be granted to the assessee on its residential properties and assessee cannot be said to have not ‘Purchased’ the … Read more