CAclubindia Articles

Taxability of Share premium under Section 56(2)(viib)

Gursimaran Singh Rakhroy 27 July 2021 at 09:07

Section 56(2)(viib) was introduced to deter the use of unaccounted money done through subscription of shares of a closely held company, at a value that is higher than the FMV of the shares of such a company.

Interest earned out of share application is adjustable towards share issue expenditure

Gursimaran Singh Rakhroy 27 July 2021 at 09:07

The issue with respect to the tax treatment of interest earned out of the share application money deposited with a bank due to a statutory requirement has been a matter of debate before the Courts.

Taxation of Cryptocurrencies

Gursimaran Singh Rakhroy 27 July 2021 at 09:07

The current dilemma faced by the government authorities is to come up with an efficient way of taxing cryptocurrencies, which in turn puts the crypto investor community in a jeopardy.

All about LLP (Limited Liability Partnership)

Manju Laur 27 July 2021 at 09:06

Limited Liability Partnership is a combination of a company and a partnership firm. It has the limited liability of a company and flexibility of a partnership.

Analysis: IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

CS Tanveer Singh Saluja 26 July 2021 at 18:58

Decoding the new set of regulations introduced by the Insolvency and Bankruptcy Board of India to amend the existing IBBI (Insolvency Professionals) Regulations, 2016.

Analysis: Companies (Incorporation) Fifth Amendment Rules, 2021

CS Tanveer Singh Saluja 26 July 2021 at 18:56

The Ministry of Corporate Affairs has inserted a new Rule 33A - Allotment of a new name to the existing company under section 16(3) of the Companies Act and a new Form INC-11C.

Analysis of CSR Amendment Rules, 2021

CS Divesh Goyal 26 July 2021 at 18:53

MCA has introduced the Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 under which, the CSR spending has been made mandatory from voluntary w.e.f. FY 2020-21.

Checklist of Directors Report under Companies Act, 2013

CS Divesh Goyal 26 July 2021 at 09:35

Discussing the Checklist for Director's Report under the Companies Act, 2013 with regard to the Board's Report, Event/Limit Based Disclosures, and Mandatory Disclosures by a Public Company and a Listed Company.

Management Services that are not allowed to be provided by Statutory Auditors

CS Divesh Goyal 26 July 2021 at 09:35

Discussing the Restricted Services and Management Services that are not allowed to be provided by Statutory Auditors under the Companies Act, 2013 and the Chartered Accountants Act, 1949.

An Insight into Glitches in New Income Tax Portal 2.0 and Solutions

Vaibhav Singh 26 July 2021 at 09:32

Since its launch, the new e-filing portal has been prone to numerous glitches. Such glitches have restricted taxpayers from carrying out any tax-related work and any business transaction which is subject to tax.