Prohibition on Acceptance of Deposits From Public and Penal Provisions

Prohibition on acceptance of deposits from public:Section 73. (1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter:Provided that nothing in this sub-section s[...]

Published Date: 03-Jul-2019 10:32 AM

Real Estate Regulation and Development (RERA) Act 2016

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the inter[...]

Published Date: 01-Jul-2019 10:09 AM

Transfer of Shares to Non-Resident

Transfer of shares between two residents (of India) involves payment of consideration (buyer to the seller) and execution of share transfer deed. Share transfer deed to be duly stamped @ 0.25% of the consideration amount. When the transaction is between a resident and a non-resid[...]

Published Date: 28-Jun-2019 10:09 AM

Letter of Undertaking under GST

Letter of Undertaking (LUT)According to the Notification no. 37/2017 Central Tax, any registered person who intends to supply goods /services to outside India or units covered under SEZ (Special Economic Zone) or developer of SEZ without payment of integrated tax (IGST) is requir[...]

Published Date: 26-Jun-2019 10:04 AM

Project Insight

Project Insight is an initiative by the Income-Tax Department to mine big data from social media to scrutinize potential tax evaders. For example if you flaunt photos or videos of your recent exotic vacation trip or of a new expensive car that costs an arm on Facebook, Twitter or[...]

Published Date: 25-Jun-2019 09:45 AM

Transfer of Unutilized Input Tax Credit Under GST in Case of Death of a Sole Proprietor

The concept of “Perpetual Existence” is not a common feature of a Sole Proprietorship concern. Once the proprietor dies, the business is over! So one might ask, “is there no way a sole proprietorship business can achieve continuity?” Let’s say the proprietor willed[...]

Published Date: 24-Jun-2019 10:15 AM

Amendment of section 87A (Rebate) of Income-Tax Act,1961 (w.e.f FY 2019-20)

An assessee, being an individual resident in India, whose total income does not exceed Rs. 500,000/-, shall be entitled to a deduction, from the amount of income-tax computed on his Taxable Total Income, ie, after Chapter VIA deduction, an amount of income tax computed or Rs. 12,[...]

Published Date: 20-Jun-2019 09:51 AM

Apostillation and Notarisation of Documents

Apostillation: An Apostille is a stamp of approval to authenticate the signature of the public official who has certified that the documents presented are true and correct. The Apostille then validates that the signature originates from an individual who has the authority to cert[...]

Published Date: 19-Jun-2019 10:04 AM

E-Form FC-2 Return of Alteration in the Documents Filed For Registration by Foreign Company

IntroductionA foreign company means any company or body corporate incorporated outside India which, has a place of business in India whether by itself or through an agent, physically or through electronic mode; and conducts any business activity in India in any other manner.Purpo[...]

Published Date: 18-Jun-2019 10:03 AM

TDS and TCS under GST

TDS under GST law TDS is to be deducted if the total value of individual contract exceeds 2.5 lakhs at the rate of 2 percent on payments made to the supplier of taxable goods and/or services. No need of deduction of Tax is required when the location of supplier and place of s[...]

Published Date: 10-May-2019 09:48 AM

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