Articles by Affluence Advisory

Registration of Section 8 Company in India

Affluence Advisory 20 March 2024 at 14:00

SECTION 8 COMPANY is a non-profit company formed and registered under section 8 of the Companies Act, 2013 specifically to promote social welfare, education, art, science, religion, charity, and other noble causes prioritizing social impact over financial gains.

ITAT Judgement - Ignorance of the Provisions of Section 269 will initiate penalty proceedings u/s 271E

Affluence Advisory 15 March 2024 at 14:54

ITAT: Upheld penalty, states that poor history of clearance of cheque is not valid reason to make repayment in cash and against the mode prescribed under Section 269T of the Income-tax Act, 1961.

Refund Process under GST across Different Categories

Affluence Advisory 14 March 2024 at 09:00

In this article, we have attempted to summarize the computation of refund amount under different categories along with broadly outlining the process.

Cancellation, Suspension and Revocation of GST registration

Affluence Advisory 13 March 2024 at 12:48

Nowadays, the matters relating to cancellation of GST registration specifically cancellation from retrospective date are being seen on recurring basis. Almost, every other day we see judgement pronounced by some or other High Court dealing with cancellation of GST registration by department.

Remission and Extinguishment of Tax Demand

Affluence Advisory 12 March 2024 at 14:54

This article summarizes a recent order issued by the Central Board of Direct Taxes (CBDT) on the remission or extinguishment of small tax demands outstanding as of January 31, 2024, under the Income Tax Act 1961 (ITA), Wealth Tax Act 1957, or Gift Tax Act 1958 (referred to as relevant Acts).

RBI Directions on Filings of Supervisory Returns

Affluence Advisory 06 March 2024 at 14:17

The Reserve Bank of India has issued Master Directions on the 'Filing of Supervisory Returns' by all Supervised Entities on February 27, 2024. In this article, we will focus on the changes applicable to NBFCs.

Diving into Diligence: Simplifying the Essence of Due Diligence Across All Endeavors

Affluence Advisory 05 March 2024 at 12:39

Due diligence is a comprehensive process in business transactions involving the exchange, review, and appraisal of confidential legal, financial, and other material information between parties before finalizing the transaction.

ESOP: Understanding Types & its Tax Impact

Affluence Advisory 01 March 2024 at 10:45

"Employee Stock Ownership Plan" commonly known as ESOP is an employee benefit plan that grants employees an ownership stake in the company. Employers choose which employees will benefit from ESOPs, how many shares to distribute, and how much to charge.

ESOPs vs Sweat Equity - The Need and Differences

Affluence Advisory 27 February 2024 at 08:51

Key Differences between ESOPs and Sweat Equity are mentioned in this article!

Comprehensive guide to POSH Act 2013

Affluence Advisory 24 February 2024 at 08:41

The POSH Act defines sexual harassment to include unwelcome acts such as physical contact and sexual advances, a demand or request for sexual favors, making sexually colored remarks, showing pornography, and any other unwelcome physical, verbal, or non-verbal conduct of a sexual nature.