RBI i.e. Reserve Bank of India is the central bank of India. It has set various rules and regulations so as to control and manage the operations of the Banking sector in India. In this article, we will discuss the guidelines by RBI on Statutory Central Auditors. So, let us see what those guidelines are…
The all-powerful GST Council on September 17th, 2021 at Lucknow decided to charge online food-delivery operators such as Zomato and Swiggy a tax with effect from 01.01.2022 and the tax will be charged at the point of delivery. Table of Content: Decision taken at 45th GST Council Meeting Current situation of collecting GST Why the Need of charging GST…
COVID-19 is the biggest and worst pandemic seen by mankind. India is one of the worst effected countries by this pandemic. The government of India is trying all means and measures to make it possible for the country to stride through COVID-19. Government is giving medical facilities, economic aid and all other types of possible…
Loans are an important source of funding for the companies apart from Equity. The Companies Act, 1956 permitted the companies to borrow from the directors, shareholders, or the relatives of the directors. With the Amendment of the act, the New Companies Act, 2013 has removed the shareholders, and the relatives of the directors are removed…
World has seen a never seen before situation with COVID-19. The biggest of countries going under lockdown. The pharmaceutical companies and NGO’s are working hand in hand. On one pharmaceutical companies are preparing drugs and vaccines and on the other hand NGOs are working for helping the poor and needy in these times of lockdown….
Various provisions of Merger and Acquisition are provided under The Companies Act, 2013 but no specific definition is provided. Generally, Merger and Acquisition are two different terms. When two different company of the same size joins together to form a new company is called Merger. On the other hand, In Acquisition one company takeovers the…
From August 1st, 2021, CBIC implemented the removal of the mandatory audit by CA CMA under GST. After the amendment taxpayers in India don’t need their GST audit by CA or CMA. In addition to this, they don’t need to submit the audited version of the reconciliation statement in Form GSTR-9C. In this article, we…
LLP stands for Limited Liability Partnership Firm. LLPs are formed as per provisions of LLP Act,2008. It is like a combination of Firm and a Company. LLP has got statutory compliances more or less like a Company. On the other hand, for taxation purpose it is treated like a partnership firm. In this article we…
NBFC is the financial institution that is registered under the Companies Act,2013 and regulated by RBI Act,1934. Before starting any financial activities business entity, they have to get a certificate of registration from RBI. Financial Activity includes loans, advances, asset financing shares, debentures, and other market securities. NBFC takeover is a process of acquiring a…
NRI stands for Non-Resident Indian. These are people who have their roots attached to India, but are settled abroad somewhere. These people may have invested in property in India or might have their ancestral property in India. They may decide to sale such properties located in India. In this article we will discuss the Tax…