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Under the Companies Act 2013, certain resolutions and agreements passed by a company are required to be filed with the Registrar of Companies (ROC) within specified timelines. The filing requirements ensure transparency and maintain an updated record of important decisions and transactions of the company. The filing process involves submitting the necessary documents and forms … Read more
Under the Companies Act 2013, the appointment of an auditor for a company is governed by Section 139. The main provisions of Section 139 regarding the appointment of an auditor are as follows: It’s important to note that the specific requirements for auditor appointment may vary based on the type of company, its size, and … Read more
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
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
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
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