An Indian subsidiary refers to a company that is owned or controlled by another company. It is a business entity where the majority or partial ownership lies with a holding company.
A Trust is not a separate legal entity, therefore the tax law uses the concept of the representative assessee to tax the trust as given under section 160 of the Income Tax Act, 1961.
As stated in Section 4 of the 2013 Companies Act when combined with Section 10. The Act's provisions under section 4(1)(c) state, among other things, that the company's memorandum must list the object for which it is intended to be formed as well as any other information deemed relevant to those purposes.
In this article we focus on certain advantages taxpayers can obtain through pre-departmental audits conducted by competent professionals.
In this article, we will delve into the intricacies of these provisions, shedding light on the audit process from both the taxpayer's and the tax authorities' perspectives.
Considering the cash transaction limits under income tax laws, transactions in cash above Rs 2 lakh in a single day are not permitted. Section 269ST of the Income Tax Act, 1961, prohibits cash transactions exceeding Rs 2 lakh in a single day or in aggregate from a person.
This article is prepared to help the company officials (I.E. HR, Accountant, Finance Managers, & Company Secretary) involved in preparation of Actuarial Inputs for Actuarial Valuations in compliance of AS 15 (Revised 2005) & IndAS 19 to understands various technical points while preparing the Inputs.
23 May 2023
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GST came into force on 1st July, 2017 and we will be celebrating 6 years of GST this year. Currently, there are 1.39 crore businesses registered under GST.
ESOP are employee benefit plans that offer employees ownership interest in the organization they work. In other words, ESOP are the right / option given to eligible employees by the employers to buy equity shares of the company at a predetermined rate within a stipulated time.
In this article, we will cover what a tax-saving fixed deposit is and how you can benefit from it.
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