CAclubindia Articles
Self Proficiency Test for Independent Directors
As per section 150(1), an independent director can be selected from the data bank containing the names, addresses and qualifications of persons. Such persons should also be eligible and willing to be appointed as an Independent Director.
Whether financial creditor of holding Co. considered as FC of subsidiary if subsidiary given loan security
The case essentially deals with a third-party mortgage extended by the Corporate Debtor for a loan taken by its holding company, wherein the Corporate Debtor mortgaged its property for such borrowing.
How Will Russia's Invasion of Ukraine Affect Taxes & Trade in India?
As I am penning down this piece, the market capitalisation worth Rs. 13.4 lakhs crores have already been eroded with BSE index plunging by 2700 points and NSE index tanking by 815 points, on account of Russia’s launching of a special military operation cum all-out invasion by land, air and sea of Ukraine on 24.2.2022.
Updated Return- Advantages and Disadvantages
Government is trying to provide an opportunity to taxpayers to disclose their income which was previously omitted to be disclosed, and on the other hand will also generate additional revenue for the government. It will facilitate ease of compliance to the taxpayer in a litigation free environment.
Future prospects should be paid even in case of notional income - Motor Vehicles Act,1988
In the recent case passed by the three-judge bench of the Supreme Court on 5 January 2021, the court granted future prospects even in cases of national income.
Startup India Seed Fund Scheme
DPIIT has created Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 Crore to provide financial assistance to startups for Proof of Concept, prototype development, product trials, market entry, and commercialization It will support an estimated 3,600 entrepreneurs through 300 incubators in the next 4 years.
Financial Literacy - The need of the hour
24 February 2022
5816 Views
The pandemic has put not only lives in danger but also many out of jobs resulting in a financial crisis. This has alarmed people to save for the rainy days.
Calculation of taxable and non-taxable interests under EPF/GPF accounts
The Government has changed the rules for calculation of interest on EPF/GPF/RPF Accounts and has set threshold limit for contribution in EPF Rs. 2.50 Lakhs and GPF Rs. 5.00 Lakhs on which interest received will not be taxable.
Unsuccessful Appeal Submissions Turned into Explanatory Memorandum to Finance Bill!!
Let us analyse some of these budget amendments proposed in the Finance Bill, 2022, aimed at overturning the well-known and established judgements
What is INC-20A Business Commencement Form?
INC-20A is a Declaration for Commencement of Business form. According to the new section 10A(1)(a), of the Companies Act, 2013, and Rules 23A of the Companies (Incorporation) Rule 2014, it is imperative for a director of an incorporated company to file an INC 20A form with the Registrar of Companies (RoC).
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