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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.…

As per section 50C, the calculation of capital gain of the sale of land or building or both is held as a capital asset. Further, this Section is not applicable in the case of land or building or both are held as stock. This present blog pays attention to 'Section…

Minimum Alternate Tax (MAT) was created to decrease the gap between the tax accountability under income calculation and book profits. Further, the objective behind MAT was to bring the ‘zero-tax paying companies’ within the ambit of income tax. It also makes them pay a minimum amount in tax to the…

We've explored the necessity of medical insurance and its ability to sustain the financially viable in the event of an insured risk on several occasions. Insurance is a useful tool for risk transfer and minimization. In most cases, we transmit our liabilities to insurance firms in exchange for a little…

Section 62 of Central Goods and Service Tax Act,2017, come into effect when a taxable person fails to file returns, as per requirements under section 39; or final return on cancellation of registration under section 45 of the Act, or; as the case may be. This blog talks all about…

The tax taken on most of the goods and services sold for domestic use is GST (Good and Services Tax). This tax was introduced on 1st July 2017 through 101st amendment of Indian Constitution by the central government. Goods and Services Tax replaced all the prior multiple taxes of both…

  The executive board makes decisions and determines actions on behalf of a company in the corporate world. But how will this function in practice? It's not quite as straightforward as the selections individuals make along the way. The goals set at this stage have such a significant impact on…