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Possession of material unearthed during search is prerequisite to invoke provisions of Section 153C of Income Tax Act

  Affluence Advisory    23 April 2024 at 14:01

In the case of a non-searched person, whose books of account or documents were found during the search (referred to as "other person"), an assessment is made under Section 153C of the Act.



Gold Price is shining - Know the reasons

  Affluence Advisory    22 April 2024 at 08:33

Gold operates under the fundamental price dynamics of supply and demand, similar to other capital markets. However, the couple of underlying factors influencing these dynamics are often more distinctive and can be both rational and irrational.



Guide to Buyback of Shares in India under Companies Act & Tax Considerations

  Affluence Advisory    19 April 2024 at 08:40

With the flourishing economic conditions in India and the government’s proactive measures to ensure that there is ease of doing business, various foreign institutional investors, foreign multinationals companies have been making investments in the country.



SEBI Issues Guidelines for Draft Offer Documents and Returning Draft Documents and Its Resubmission

  Affluence Advisory    17 April 2024 at 08:33

The Securities and Exchange Board of India (SEBI) plays a crucial role in regulating the securities market and safeguarding investor interests. Among its many responsibilities, SEBI oversees the issuance of offer documents by companies looking to raise funds through public offers.



For Tax Filing - Analyze the Old & New Tax Regime

  Affluence Advisory    12 April 2024 at 08:36

Lately, a lot of confusion has sparked on various internet platforms regarding the tax changes for the financial year (FY) 2024-25. However, the Ministry of Finance has put that to rest by putting out a clarification vide its Twitter handle that there are no changes on the tax rates as on 01.04.2024.



Issuance of notice in Form GST ASMT-10

  Affluence Advisory    10 April 2024 at 14:44

Goods and Services Tax (GST) is a self-assessment-based tax scheme wherein a taxpayer is required to determine its tax liability and avail the eligible credit on a periodical basis.



GST: Action Points of Closing of FY 2023-24

  Affluence Advisory    04 April 2024 at 10:38

Checklist to be followed in March 2024 for the GST Compliances of FY 2023-24



Highlights of Revised Secretarial Standards on General Meetings (SS-2)

  Affluence Advisory    02 April 2024 at 08:52

The ICSI in January, 2024 has issued a revised SS-2 (effective from April 01st, 2024) to maintain consistency with the amended (vide Companies (Amendment) Act, 2017) provisions of the Act.



Scale-Based Regulation 2023: Non-Banking Financial Company (NBFCs)

  Affluence Advisory    01 April 2024 at 08:37

The Reserve Bank of India (RBI) has played a crucial role in regulating the NBFC sector over the years. With the sector's evolution and growth dynamically the regulator amends the regulations from time to time giving the sector the flexibility to operate efficiently.



Responsibilities of the NBFCs registered with RBI, with regard to submission and compliances

  Affluence Advisory    27 March 2024 at 14:17

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013, engaged in the business of loans and advances, acquisition of shares/ stocks/ bonds/ debentures/ securities issued by Government or local authority or other marketable securities