Ajay Oza was a director in several companies and was barred from being appointed or reappointed as a director for a term of five years under Section 164(2)(a) due to a failure by one of the firms to file annual returns and financial statements for the financial year 2015-17
Continue Reading »The Reserve Bank of India (RBI) has asked the Anil Dhirubhai Ambani Group firm, Reliance Infrastructure (earlier, Reliance Energy), to pay just under Rs 125 crore as compounding fees for parking its foreign loan proceeds worth $300 million with its mutual fund in India for 315 days, and then repatriating the money abroad to a joint venture company.
Continue Reading »As you are aware that the amendment in Hindu Succession Act, 1956 in year 2005 is a revolutionary amendment, which has changed the whole criteria of holding of properties in Hindu Families. First time the constitution acknowledged the equal rights of daughter on equal footings with the son. The amendment act has also taken care of widows of Hindu Families.
Continue Reading »A charitable trust derived its income from the business of providing mineral water to various companies situated in Software Technology Park in Hyderabad. A sum of Rs. 30 Lakhs has been derived as income from such business activity, which has been applied for the purpose of "General Public Utility".
Continue Reading »In this article we are going to explore the rights and duties of a Company Secretary on the basis of a decided case of Deccan Chrinicals Holdings Ltd. Vs. SEBI...
Continue Reading »As you are aware that India is one of the few countries that still has exchange controls and does not have full capital account convertibility. The Foreign Exch..
Continue Reading »In some occasions, gift to individual is exempted such at marriage and gifts receipt by a person from his/her relatives. The definition of relatives has been given in Section 2(47) of the Companies Act, 2013.
Continue Reading »The Budget 2023 has also not disturbed taxation regime of NRIs except some provisions have been changed. The Shares generally issued to NRIs are of higher value and issuer's explanation to valuation is not satisfactory and hence the excess value above FMV will be taxable and any property gifted to NORI above Rs. 50000/- is chargeable to tax in India.
Continue Reading »Considering the large volume of revenue being generated from winnings of online games, the rise in users of such games, variety of playing options and payment options, it was expected that the government may provide clarifications on the applicability of TDS and taxation of winnings from online games
Continue Reading »As you are aware that MSMEs are the backbones of industrial development in any country. These MSMEs are the main source of generation of employment and act as k..
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