Ministry of Corporate Affairs has further simplified claim settlement process through rationalization of various requirements under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 with the mission and vision of Government of India of Ease of Living and Ease of Doing Business.
In this editorial author shall discuss about the transactions with example required to be mentioned in MSME-1
As per the MSME Act, 2006, if any company has delayed in payments to an MSME vendor, then they have to pay a huge amount of interest and report a default in their financial statements.
If a company files MSME-1 after the due date or fails to file the MSME-1 form, then legally, the company is liable to pay penalty u/s 450 of the Companies Act, 2013.
Under GST law before taking credit of input tax the important test is the business nexus test where we have to check that input is used or intended to be used in the course or furtherance of business.
SEBI has notified the SEBI (Listing Obligations And Disclosure Requirements) (Sixth Amendment) Regulations, 2021. These regulations shall come into force w.e.f. 01st April 2022.
As per Section 32(1)(ii), depreciation is allowable in respect of know-how, patent, copyrights, trademarks, licenses, franchises or any other business or commercial rights of similar nature.
IPO means Initial Public Offering where a company lists its shares for the general public in the stock market. A company raises funds through it.
Once a director is disqualified u/s 164(2), they shall be eligible to be re-appointed as a director of that company or appointed in another company for a period of five years from the date of disqualification.
In an industry dominated by men, women have gained immense popularity over the past couple of years. Let us know seven such powerful women across the globe who have made a mark in the Finance Industry.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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