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Employee Stock Options Plan (ESOP) is an employee benefit plan, that provides workers ownership interest in the company. This interest takes in the form of shares of stock. Further, this plan is offered to employees of the Company to allow the Employees to participate in the growth of the Company.…

There are different types of audits performed under different rules such as company audits/statutory audits conducted under the terms of company law, cost audits, stock audits, etc. Similarly, the Income Tax Act mandates an audit called ‘Tax Audit’. As the name itself suggests, a tax audit is a review or…

A board of directors is a panel of people elected to represent shareholders.  The board is in charge of protecting shareholders’ interests, establishing policies for management, oversight of the corporation or organization, and making important decisions on issues a company or organization faces. This blog talks about the ‘Composition of the…

The typical payback time for a home loan is between 20 and 30 years. Owing to the difficulty of repaying your house loan and ensuring that your Equated Monthly Installments (EMIs) are paid on time, there may be times when you are unable to keep up with your EMIs due…

With the beginning of the new financial year FY 2022-2023, numerous rules and regulations have changed in respect of Income Tax. Some of the changes are in the areas of EPF (Employee’s Provident Fund), tax on crypto assets, tax relief on the treatment of Covid-19, etc. In this blog, we…

A Public Company is a type of company in which ownership is distributed to general public shareholders through the free sale of stock shares over-the-counter at markets or on exchanges. Even if just a small fraction of shares are originally distributed to the public, the daily trading that occurs in…

The term mortgagee was firstly well-defined by the Transfer of Property Act, 1882. Since time immemorial it is seen that the property whether it be money, real estate, or the animal is kept as a mortgage during any financial crisis. In today’s time, those property is kept in the hands…

A company is a group of people who want to do some business activities after obtaining a legal existence. Among all the types of companies, Private companies and Public companies are the most popular. There are certain times and situations in which the conversion of private to public companies is…

Under Section 2 (31), 'Person' is an AOP or Association of Persons or BOI (Body of Individuals) or a Local Authority or an artificial judicial person, or not, that Person or Body or Authorities or a Legal Person, was established or merged for revenue, profit or gains. In this article,…

Section 80CCC of the Income Tax Act of 1961 provides for deductions amounting to Rs. 1.5 lakhs per year for personal contributions to certain pension funds provided by health insurance. The deduction is within the 80C section limit. This article discusses the income tax deduction under Section 80CCC in India.…