IntroductionIndia’s social consciousness is deeply engraved with the generosity of social service, which have evidently existed in various forms since ages, like the conceptof daana, dakshina, bhiksha etc. There are many different ways through which individuals, companies etc. can help bring wellbeing, prosperity to one’s life aswell as society at large. There are innumerable ways for providing social benefits it is not restricted only to single individuals but individual altogether as societyat large can contribute and take active part, the most common structures for providing social benefit is forming a Non-Profit…

APPLICABLE LAWCompany Act, 2013Depositories Act, 1996WHAT IS DEMATERIALIZATION OF SHARES?The process by which the physical share certificates of a company are converted to an electronic form commonly known as the dematerialization of shares. These dematerialized shares are then held in an online Demat that you open with a depository.COMPANY ACT, 2013Section 29 of the Company Act, 2013: -(1) Notwithstanding anything contained in any other provisions of this Act(a) Every company making public offer; and(b) such other class or classes of public companies as may be prescribed:shall issue the securities only…

The 2023 Budget has confused taxpayers about choosing between old and new tax regirme tax rules. The government of India has added incentives to promote the new system, aiming to phase out the old one. Even though the new system is default now, the old one still exists.Let's compare both for the best choice in 2023.New Tax RegimeIn Budget 2020, a new tax system changed tax slabs and offered lower rates. But it didn't attract many due to limited exemptions like HRA, LTA, 80C, 80D, etc.In Budget 2023, the government…

Key Points FY-2024 fiscal deficit target at 5.9% of GDPOutlay for capital spending increased 33% to 10 trillion rupees in 2023/24Cigarettes to get costlier as Budget proposes 16% hike in dutyTo set up agriculture accelerator fundIncreases budget allocations to 790 billion rupees for affordable housing in 2023/24Finance Minister says increase in public capex key to crowding in private investmentsIndian economy has become the fifth-largest economy in the world in last nine yearsBudget adopts seven priorities including inclusive, green growthAgricultural credit target raised to 20 trillion rupees ($244.42 billion) for 2023/24Sitharaman…

Introduction: Today on 9th of December 2023, UAE has issued the  Federal Decree-Law No. 47 of 2022 on Taxation of Corporations and Businesses (the “Corporate Tax Law”). This means all the businesses will be subject to UAE Corporate Tax (“Corporate Tax”) from the beginning of their first financial year that starts on or after June 1, 2023 subject to certain condition.The UAE’s Corporate Tax regime will levy a standard rate of tax of 9% for taxable profits exceeding AED 375,000. Profits up to and including that threshold will be taxed…

The following is the Chart of due date under various Acts for the month of November 2022: Event Date Act Applicable Form Particulars 01-11-2022 Goods & Services Tax Form GSTR-1 HSN is mandatory upto 4 digit in Table 12 of GSTR 1 for Turnover upto Rs. 5 crores in FY 2021-22. For Others, 6 digits applicable already. 07-11-2022 Income Tax Challan No ITNS-281 TDS / TCS Payment for the month of October 2022 07-11-2022 FEMA ECB-2 Monthly Return of External Commercial Borrowings for October 2022 07-11-2022 Income Tax Income Tax…

Income-tax Department has introduced a completely new re-engineered Form 15CA and Form 15CB submission process based on various feedbacks provided by numerous corporates and professionals all over India. These transformations will simplify the preparation, assignment, submission, and verification process involved in the entire filing cycle of the Form. The major key transformations are:  (a) Taxpayers are no more required to assign the same CA for multiple 15CA/CB submission in a year. Appointment of CA for Form 15CB is a one-time activity for a particular Financial Year. (b) Once Single Assignment…

MCA has extended deadline for holding Annual General Meeting from September 30, 2021 to November 30, 2021. check below the official memorandum