Budget 2016 – 2017

INTRODUCTION : As we expect more from Budget but once again we have to wait for another year where we can expect that more changes will be done as per our expectation and Tax Payer will be Happy. As simple, the budget neither gives any benefits nor provide any special provision to the Tax Payer.… Read More

Highlights of Union Budget 2016-2017

Highlights of the Union Budget Speech of Hon'ble Finance Minister, Sh. Arun Jaitley on 29th Feb, 2016: -- Health Insurance Scheme being announced to benefit atleast 1/3rd of Indian Population -- Significant changes expected in the FDI policy -- Following are the 9 pillars of this Budget: a. Agriculture and farmers welfare b. Rural employment and… Read More

The Trending Stuff About One Person Company

An One Person Company can be shaped by a solitary individual I.e. one individual is sufficient to frame such kind of organization, where the individual would be the Director and Shareholder of the Company. Just extra necessity is he needs to name a chosen one for the organization. One Person Company has been recently presented… Read More

Tags: business consulting, Company incorporation, entrepreneur, formation of company, One Person Company, startup

Expectations from Budget 2016-17

Expectations from Budget 2016-17 By CA Mukund Abhyankar What budget should aim to achieve. Modi Government which came to power with a promise of “Acche Din” is now on the scrutiny radar of everyone   for fulfilment of that promise in its third year for which it has been in power. While most of the announcements… Read More

Reverse Charge Mechanism

UPDATED LIST OF REVERSE CHARGE MECHANISM As we all are aware, Service Receiver also needs to pay his % of  service tax under Reverse Charge Mechanism.Here is the updated list for know the % share of Service Receiver and Service provider in order to have better control over on the payments of statutory dues. Sr… Read More

INTERNATIONAL TAXATION

INTERNATIONAL TAXATION  International Tax is best regarded as the body of legal provisions of different countries that covers the tax aspects of cross - border transactions. It is concerned with Direct Taxes and Indirect Taxes - Kevin Holmes INTRODUCTION: International taxation in a simple language means the study of Taxation beyond the National Level. Though… Read More

Applicability of revised CARO, 2016 as per draft Companies (Auditor’s Report) Order, 2016.

Applicability of revised CARO, 2016 as per draft: This Order may be called the Companies (Auditor's Report) Order, 2016. (2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except:– (i)… Read More

ONE PERSON COMPANY: A concept of modern age

Not old in some countries but new in India, One person company(OPC) is a form of business, introduced by Companies act, 2013 (no. 18 of 2013), was first recommended by the expert committee of Dr. JJ Irani in 2005, enabling sole proprietors to enter into corporate world. It is like forming a company with the… Read More

Tag: Companies Act

Consolidation of Financials under IFRS

Consolidation of Financials under IFRS ======================================================= Introduction Under Globalised scenario, the boundaries of the business crossed the beyond from one county to many countries during the last two decades, at the same time business risk is also increased the same level for the companies and their investor. As a investor or stake holder of an… Read More

WAGES UNDER ESIC ACT_Employee’s State Insurance Corporation (ESIC)

WAGES UNDER ESIC ACT :- WASHING ALLOWANCE: It is a sum paid to defray special expenses entailed by the nature of employment and as such this amount does not amount to wages. (In lieu of old instructions issued vide Memo No.Ins.III/2/1/65 dt. 8.2.1967) SUSPENSION ALLOWANCE/SUBSISTENCE ALLOWANCE During the suspension period the employee is not allowed… Read More

Taxability of Income from House Property

The value obtained from house property is taxable under the head “Income from House Property” i.e. the annual value of the property, which includes building or land appurtenant thereto, of which the assessee is the owner, is subject to taxable under this head “income from House Property”. However, if the property is owned and used… Read More

The Concept of Private Placement under The Companies Act, 2013

1.1 INTRODUCTION:   Any business needs funds in order to make it successful or at least run that business. Initially, the money comes from the subscription of the members but as the company grows, it definitely needs more funds. The company then raises funds by various methods. One of them, or in fact the most… Read More

Tag: Private placement

Make In India Policy

What is ‘Make in India’ program? The Make in India program is an initiative launched to encourage companies to increase manufacturing in India. This not only includes attracting overseas companies to set up shop in India, but also encouraging domestic companies to increase production within the country. Make in India aims at increasing the GDP… Read More

Tags: FDI, foreign direct investment, Make in India Policy, Manufacturing