Provision & Computation with Example’s The Finance Act, 2020, has allowed to defer the payment or deduction of tax on ESOPs allotted by an eligible start-up referred under Section 80-IAC. The tax is required to be paid or deducted in respect of such ESOPs within 14 days from the earliest of the following period: After […]
About Sovereign Gold Bonds (SGBs): Sovereign Gold Bonds (SGBs) are the alternative to investment in physical gold. These bonds are risk-free as issued by the Government of India. The Government launched this scheme in 2015 under Gold Monetisation Scheme. These bonds are backed with policies and procedures notified by RBI. Features: A Person resident […]
What is Offer for Sale (OFS)? An Offer for Sale is a method in which promoters of listed companies can sell their shares through the bidding platform for the Exchanges and transparently reduce their holdings. It’s an easier process for the promoter to dilute their stake with minimum compliance. OFS was introduced in 2012 by […]
Timeline to file belated Income Tax Return (ITR) under section 139(4): As per the Finance Act 2016 amendment from AY 2017-18 anyone can file a belated return on or before the relevant Assessment Year if missed the due dates mentioned in section 139(1) of the Income tax Act. Example: For AY 20-21 last date to […]
How to Get Instant PAN through AADHAAR Step 1-Go to website https://www.incometaxindiaefiling.gov.in/home. You found an option in left side in Quick Links called “Instant PAN through Aadhaar” as marked in below picture. Step-2 Click on link “Get New PAN” Step-3 Fill in your Aadhaar number in the provided apace, Enter captcha and confirm. Step-4 Applicant […]
What is Dividend? If you buy shares of any listed company then you are the shareholder in that company and out of the surplus/ profit and retained earnings share of profit pay out to the shareholder is called Dividend. The value of dividend is determined on per share basis and approved by Board of directors. […]
‘Income tax return (ITR)’ is a form in which taxpayers declare details of income, deductions, exemptions, and taxes payable on their taxable income. ITR are governing by the Rules of Income Tax Act, 1961. ITR must be filed in a prescribed format and should be submitted to the Income tax department on or before the […]
A private limited company is requires to file certain forms as an annual Compliance. Form MGT-7 Form MGT-7 which includes information about the company, its shareholders, Directors, KMP etc. as on 31st March and filed with ROC. As per Section 92 & Rule 11, 12 of Companies (Management & Administration) Rule 2014 all class of Companies included […]
What is a Producer Company? A producer company is a body of farmers/ agriculturists, Incorporation of producer company is for benefits given to Farmers Under Companies Act 1956, a Producer Company can be formed as per Section 581C of Chapter II of Companies Act, 1956 by 10 individuals (or more) or 2 institutions (or more) […]