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Corporate governance is a set of rules or concepts used to run a business. It makes sure that the business operates as it should in order to accomplish the desired objectives. Each stakeholder, including directors, owners, employees, and customers, is held accountable by the corporations. The definition of governance as…

A fixed asset is an asset, often but not exclusively a physical asset, that is purchased for long-term use and is unlikely to be quickly converted to cash. In comparison, current assets include cash or other assets that are likely to be converted into cash within one year. In this…

Do you know, that the Hon’ble High Court, Karnataka in the case of the M/s Rajiv Gandhi University of Health Science vs. Principal Additional Director General and Ors. [Writ Petition No. 57941 of 2018 dated 26-Jul-2022] held that Service Tax on Affiliation Fee and Rent levied by Universities for other…

On August 7, the RBI announced the creation of an expert committee with KV Kamath as its chairman, with the mission of recommending the necessary financial parameters and sector-specific benchmark ranges for such parameters to be taken into account in resolution plans under the "Resolution Framework for Covid19-related Stress." Table…

The Tax Auditors and the assessee are both concerned about 'Clause 44' in the tax audit report in Form 3CD, which deals with reporting obligations connected to GST spending. The issue stems from the application of clause 44 of Form 3CD for the fiscal year 2022-23 or FY 2021-22. This…

The Companies Act 2013 mandates that certain information be published on a company's website. Information like company name, registered office address, company identification number, telephone number, fax number, email ID, and name of a company representative in case of any complaints/queries. The company's web address must appear on letterhead, business…

Share certificates issued by the Company are sometimes lost or misplaced by the shareholders due to unforeseen circumstances. The loss of share certificates can lead to huge financial losses for both the shareholders and the company. To avoid unnecessary losses to shareholders and society, the remedy is provided by the…

Entrepreneurs rejoice! Now save money by hiring! The Income Tax Act 1961 contains a provision under section 80JJAA to offer additional tax credits to businesses that create new jobs during the year. The section provides a deduction of 30% of additional employee costs incurred by the taxpayer for each of…

In the Indian economy, cash transactions have always played a major role and serve as a consistent reason for the accumulation of black money. The government has recently launched various measures to curb cash transactions and boost digital payments. In this article, we will look at the cash transaction limit…

For effective financial management, it is essential to understand the functioning, powers, and limitations of the powers of the tax authorities. This turns out to be all the more important in the light of the present scenario in India where there is uncertainty in the minds of the assessee as…