When a shareholder loses their share certificate, both the shareholder and the company face potential financial repercussions. Under the Companies Act, 2013, and the Companies (Share Capital and Debentures) Rules, 2014, provisions are made for the issuance of duplicate share certificates to mitigate losses for...
The advent of GST marks a significant tax reform aimed at streamlining taxation across the nation. While this reform has brought benefits to various sectors, its implications for charities and non-profit organizations are noteworthy. This article explores the impact of GST on the renting of...
Tax Deducted at Source (TDS) is a crucial aspect of the Income Tax Act, 1961, mandating the deduction of income tax from certain payments at the time of disbursal. This article aims to elucidate the essentials of TDS as per the provisions of the Income...
When a company seeks to raise funds without diluting its equity, it often opts for issuing debentures, which represent a form of debt for the company. Comparable to borrowing money, debentures necessitate repayment over a predetermined period, typically with a fixed interest rate. Both corporate...
Agriculture stands as the predominant occupation in India, often serving as the sole income source for a significant portion of the rural populace. Given the vital role agriculture plays in meeting the country's food needs, various governmental initiatives, including tax exemptions, aim to bolster this...
For individuals surpassing the basic exemption limit in a fiscal year, filing an Income Tax Return (ITR) becomes mandatory, detailing income, deductions, and relevant information. Once filed, the Income Tax Department processes these returns, occasionally subjecting them to assessment based on Central Board of Direct...
In today’s dynamic business landscape, enterprises often operate across diverse sectors, managing multiple undertakings simultaneously. This diversification may lead to scenarios where companies possess distinct assets and liabilities within each business segment. Consequently, companies may consider divesting either a portion or the entirety of a...
India initiated the Goods and Services Tax (GST) on 1st July 2017, aiming to streamline the taxation process. Among the various tax schemes introduced under GST, the Margin Scheme stood out. Let's delve into its intricacies....
The Indian government had enacted Section 44AD of the Income Tax Act to alleviate the tax burden on small taxpayers through a presumptive taxation scheme. This scheme applied to taxpayers engaged in any business other than those specified in Section 44AE, such as hiring, rent,...
Business, a fundamental activity in society, encompasses various forms of trade and services aimed at profit generation. While traditionally associated with commercial ventures, businesses can also serve non-profit purposes, whereby profits are not distributed to members or stakeholders. In this guide, we will delve into...
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