Latest Post and Updates

The Government of India levies duty on all imports within the country and some exports from the country. The amount to be paid as duty may be determined by several factors such as the value, weight, dimensions, etc. of the item concerned. So, this article will discuss the applicability of…

The Ministry of Corporate Affairs (MCA) in a notification dated June 1, 2022, issued the Companies Amendment (Appointment and Qualification of Directors) Rules, 2022 to further amend the Companies (Appointment and Qualification of Directors) Rules, 2014. Under this rule, citizens from a country that shares a land border with India…

The Negotiable Instruments Act, of 1881 provides a safety net for creditors (whether deemed or actual) who are having difficulty recovering a defaulted amount due to debt or any other liability. Section 138 of the Negotiable Instruments Act, 1881 imposes criminal liability on such defaulter for cheque(s) dishonor, which includes…

According to a government proclamation dated March 31, proposed changes to the 45th GST Council Meeting on building bricks, clay tiles or roofs, fly ash bricks, and petrol bricks took effect from April 1, 2022. This article will provide an insight into the GST on bricks manufacturers. Table of Contents…

CARO 2020 is a new system for the release of audit reports in the event of a statutory corporate audit under the Companies Act, 2013. The additional requirements of reporting following the National Financial Reporting Authority (NFRA) have been included through CARO 2020. The NFRA is an independent governing body…

An employee stock option plan (ESOP) is a frequently used incentive mechanism used by organizations. There are various reasons why company employees are given such stock options. The phenomenon of stock options is more prevalent in start-up companies that cannot afford to pay high wages to their employees but are…

Section 186 of the Companies Act 2013 sets out the loans and investments that a company can make. It states that the company can invest through more than two layers of investment companies. This article will discuss the loan and investment by the company. Table of Contents Applicable Provisions and…

Businesses that collect taxes from the general public are bound by the principle of public trust as the general public who pays such taxes to corporate entities is under the belief that whatever is collected from them, the same will flow to the government. This article will provide an insight…

The RBI has announced that to consolidate existing reporting frameworks for various types of foreign investment in India, it will introduce a Single Master Form (SMF) covering all available reports. The Reserve Bank is launching an online application, FIRMS (Foreign Investment Reporting and Management System), which will provide SMF. This…

The presumptive scheme option has always been an exciting and confusing story for taxpayers. As the 2016 Budget comes into effect from FY 2016-17, there have been some important additions/deletions in the system, which you should be aware of. The presumptive tax scheme is designed to provide relief to small…