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According to the Income Tax Act, 1961 of India, Income Tax is levied on all individuals, HUFs, partnership businesses, LLPs, and companies. Individuals are taxed according to the slab system if their income exceeds the minimum threshold level (known as the basic exemption limit). In this article, we will be discussing…

The taxation system is the backbone of a country's economy, ensuring that revenue is stable, management of economic development and that industrial activity is care of. India's three-tier federal system includes Union Government, State Governments, and Local Bodies, all of which are in charge of the various taxes and charges…

The principle of majority rule is at the heart of corporate democracy. The principle of majority originated with the rule of Foss v Harbottle, in which individual shareholders have no legal recourse for any wrongdoing by the corporation and that any action brought in respect of such losses must be…

Working capital is an accounting phrase that you may not hear much about, but it could be the key to your company's success. Working capital has an impact on many elements of an organization, including paying staff and vendors, keeping the lights on, and planning for long-term growth. In a…

Foreign Investment Policy regulates direct foreign investment in a country's production or business by a person or firm from another country. For developing countries like India, foreign direct investment (FDI) is an essential source of finances. These investments represent a significant non-debt financial resource for the country's economic development. The…

Within 30 days of its incorporation, a corporation must have a registered office. In the Memorandum of Association (MOA) and Articles of Association, the registered office is indicating (AOA). It is the official address of a company that forms under the Companies Act 2013 or any previous company law. The…

We live in a dynamic world that is becoming complex. Environmental, social, cultural, and economic challenges on a global scale have now become a part of our daily lives. Profit maximisation is no longer the main business performance metric for corporations, but acting as responsible corporate citizens who have a…

The notion of a company's independent legal personality is the one that serves as the foundation and a fundamental principle of corporate law in modern legal systems around the world. This idea provides the corporation with an identity that is distinct from its owners, members, or founders, granting the company…

Section 361 of the Companies Act, 2013 specifies a short process for the dissolution of corporations. The Central Government appoints an Official Liquidator to oversee the liquidation procedures. The summary procedure specifies a mechanism for winding up other than insolvency due to incapacity to pay debts. Let us briefly discuss…

All business organizations that already gain Foreign Direct Investment (FDI) or undertaken International Capital overseas with in preceding year along with the existing year are required to submit FLA Return. In other words, organizations who do have international financial assets on their balance sheet items, must file a FLA Return.…