A cloud kitchen is a virtual restaurant, a kitchen that simply accepts incoming orders through online ordering systems and presents no eating facilities.
The value of any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession shall be chargeable to income-tax under the head "Profits & gains of business or profession."
The department contended that the amount recovered by the appellant for non-fulfilment of obligation in terms of the agreement from their suppliers and buyers is nothing but consideration for tolerating an act of their customers.
FLA is an Annual Return on Foreign Liabilities and Assets that is required to be filed by Indian Companies and LLPs. It is mandatory under FEMA 1999 and is to be filed by July 15 every year.
The mission of the Bureau of Energy Efficiency is to help in developing policies and methods with a thrust on self-regulation and market principles, within the framework of the Energy Conservation Act, 2001.
A functionality to check the status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same has been introduced.
It is clear that Companies can give a loan to their Managing Director/ WTD without any restriction under Section 185. However, as per Section 186, it is not mandatory to charge interest on such a loan.
Rights issue is an invitation to existing shareholders to purchase additional new shares. Private placement is the sale of stock shares to pre-selected investors. Preferential allotment involves bulk allotment of fresh issue of shares at a pre-determined price.
Most of the extensions are granted 3 days, 2 days,1 day before the scheduled date. There are more surprises sometimes when extensions come before 8 hours, 5 hours, 2 hours on the last date.
In order to ensure that insolvency professionals remain compliant with the letter and spirit of IBC, IBBI has issued a circular on 'Monetary Penalties to be imposed by an Insolvency Professional Agency'.
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