ORSA is a confidential internal assessment appropriate to the nature, scale, and complexity of an insurer conducted by that insurer of the material and relevant risks identified by its management.
We know that risk will come with money and to reduce or mitigate this risk and keep insurance companies going on in the market they need to have a good Risk Management System.
When a property has been exchanged with another property it is called "Exchange". Know more about the Basic Concept of Exchange as per the Transfer of Property Act, 1882 here
Transactions Which Are Not Considered As Transfer Under Income Tax Act,1961
The Government had brought in the concept of TDS, through which persons are required to deduct TDS and deposit the same with the Government. Know more about TDS on fees for professional and technical services here
There are numerous situations under which it is not possible to find out the real person to access tax on, due to various reasons. Read the article to know who may be liable under these circumstances.
Know the tax implications on Joint Development Agreement under provisions of GST and Income Tax
Buy-back of share is one of those activities through which companies distributing the surplus to their shareholders, without payment of taxes. Initial stage provisions of Section 115QA are applicable to unlisted companies, but after July 5, 2019, it became applicable to listed companies also.
Actionable Claim is a claim to any debt, other than secured by mortgage of immovable property or pledge or hypothecation of some movable property, or to any beneficial interest in movable property, not in possession either actual or constructive of the claimant.
The contract of insurance is based on good faith, the insured /prospect have to disclose all relevant facts, required by the insurance company to underwrite risk and decide premium.