Overview on Benami Transactions (Prohibition) Act, 1988 The Indian government has taken several measures to combat black money, such as the Black Money Act, Income Disclosure Scheme, and demonetization. Among these measures, the term Benami—meaning “no name” or “without name” in Hindi—has gained significant attention. Legislative Background of Benami Transactions (Prohibition) Act, 1988 : The …
TURNAROUND OF WHOLESALE & RETAIL SECTOR UNDER IBC 2016 Legal environment of a country plays a pivotal role in its economic development, and a robust and effectively implemented legal system strengthens the country’s global standing. Following the implementation of the Goods and Services Tax, the IBC has become the second most significant reform in India’s …
Why Filing ITR Before June 15 is Not a Good Idea When dealing with different income scenarios like dividends, stocks, mutual funds, bonds, and equity shares, brokers and firms could need more time to amend the tax deducted at source (TDS) on Form 26AS. This is another justification for delaying the filing of an ITR …
What are the basic Issue of sharing confidential information during Corporate Insolvency Resolution Process under the IBC law? An Resolution professional shall ensure that information confidentiality relating to liquidation, CIRP or bankruptcy process, as case may be, Resolution professional should maintained at all times during liquidation, CIRP or bankruptcy process. Resolution professional shall share IM …
Overview of Section 194N- TDS on cash withdrawals The objective of introducing Section 194 N is to discourage cash transactions in the country and promote the digital economy. Section 194N – TDS on cash withdrawals over and above Rs 1 crore’ has been implemented via the Finance Bill, 2019. But Finance Bill 2020 amends this …
58% of participants to a poll demand Elon Musk’s resignation as CEO of Twitter. In a shocking turn of events, Elon Musk, the company’s owner, polled Twitter users on Monday and found that 58% of them wanted him to step down as the platform’s CEO because of a number of problems, including the banning of …
Team ICAI enabling resolution of issues in relation to MCA21 Version 3 – issue 3 helplines The Institute of Chartered Accountants of India team has been enabling resolution of issues in relation to Ministry of Corporate Affairs – MCA21 Version 3. In this reference, in continuation to the support & helplines that have been set …
What are Benefits of Business Incorporation in USA? Why Incorporate in USA? At this time of year, many sole proprietors and general partnerships may be wondering if it’s time to create a formal business structure. If your client is still on the fence, here are some major reasons a small business would choose to incorporate …
New Norms for QR Code on Electronic Products via Legal Metrology law applicable in India Meaning of Legal Metrology Legal Metrology treats a unit of weighment & measurement, methods of weighment & weighing with measurement and measuring instruments, in relation to the compulsory technical & legal needs which have the object of ensuring public guarantee …
Dormant Company Meaning of Dormant Company The word “Dormant” means inactive or inoperative. A dormant company is an excellent opportunity to start a company for a future project or hold an asset/intellectual property without having significant accounting transactions. On the other hand if a company has not filed its annual returns for two consecutive years …