Amendments in the provisions of IDs in relation with Appointment, Resignation, Removal, D&O Insurance, Cooling–off period and Declaration by IDs.
FEMA aims at facilitating external trade, payments and for promoting the orderly development and maintenance of foreign exchange markets in India.
Partnership firms are at a disadvantage when compared to the newly introduced LLP as they do not provide limited liability protection for the partners, separate legal entity status, and ease of ownership transfer etc.
Tax is to be deducted by the Trustee of EPF Scheme,1952 or any other person authorized to make payment of the accumulated sum to the employees.
Advance Tax is applicable to every taxpayer except to a senior citizen who is of more than 60 years of age, an individual resident of India, and who does not hold any income under the head Business or Profession.
An individual or HUF paying commission, brokerage, contractual fees or professional fees is required to deduct tax at source from the amount paid or to be paid.
Payment of premium is the consideration in the Contract of Insurance and hence without payment of consideration, any contract will not carry on. The premium must be received before the issue of the insurance policy.
The IBC Code, 2016 was introduced in Lok Sabha on 21st December 2015 and passed on 5th May 2016. The upper house of the Parliament passed it on 11th May 2016 and it got the President's assent on 28th May 2016.
CBDT has considered representation w.r.t. difficulties reported by the taxpayers and other stakeholders in the filing of ITR and various reports of audit for the AY 2021-22 under the Income-tax Act, 1961.
The provision in relation to the closure of LLP has been mentioned u/s 75 of LLP Act, 2008. The name of defunct LLP can be struck off by the Registrar Suo-motto or on application by the LLP.
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