All about One Person Company
A One Person Company (OPC) is best suited for people who wish to be sole entrepreneurs. It is a new concept introduced by Companies Act, 2013 to...
Month: May 2021
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Capital Gain Tax on Unlisted Equity Shares
Transfer of Equity Shares of Unlisted Company- Capital Gains Perspective Applicability of Section 50CA: In case of sale of Unlisted Equity Shares, first thing we...
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GST on Mining Industry
Introduction Mining in India is one of the core sector from where the Government is getting good revenue whether it be in the nature of...
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MCA adds 22 more Forms in List providing Waiver of Additional Fee if filled upto 31-07-2021
The Ministry of Corporate Affairs (MCA) has notified the list of forms providing waiver of additional fee. Earlier, the MCA vide Circular no. 06/2021 and...
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Major Relief provide to GST Taxpayers in 43rd GST Council Meeting
The 43rd GST Council meeting held on 28th May 2021 and recommend the major relief to the taxpayers which are as follows:- A. Amnesty Scheme...
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IND AS-36: Impairment of Assets- Analysis
IND AS-36: Impairment of Assets- Analysis and its Testing at end of each reporting period Background: Ind AS 36 on Impairment of Assets is in...
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What is Form 16 ?
Under the Income Tax Rules, Form 16 is the certificate of deduction of tax at source and issued on deduction of tax by the employer...
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ITC in case of Zero Rated supplies even if final product is nil rated supplies
No need to do reversal of ITC in case Zero rated supplies even if final product is nil rated supplies As we all know that...
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Gift given by HUF to its Member is Considered as Income of Member?
Any person receives Gift from any other person, would be consider as income of the recipient as per section 56(2)(x) with certain exemptions. Section 56(2)(x)...
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Conversion of Company into LLP
The following won’t be recognized as ‘transfer’, and hence, no capital gain to be arise on the same: -Any transfer of a capital asset or...