Pankaj Tyagi

Recently, MCA has deployed an e-form on its website, which has to be filled voluntarily by the company’s signatory for ensuring their commitment towards Compliance with the recent guidelines implemented in the context of COVID-19. The filling up this form is not mandatory but crucial for those who want to work in tandem with COVID-19 […]

A tax residency certificate (TRC) is needed to verify which country you are a tax citizen of. The TRC is a must-have authorization for those who possess strings of income sources in more than one country. Regardless of what tax residency you represent, your income will be taxable in either country, as per their domestic […]

In financial terms, the buying of NBFC seldom refers to the acquisition of a corporate, whether by approval, wherein the seller is ready to give to complete possession of the asset to the buyer.  Overview on Buying and Selling of NBFCs Whenever the seller transfers all the assets and liabilities to the buyer, the seller’s […]

It’s a well-known fact that RBI has rendered their permission to NBFCs to diversify its footprint in the insurance business. NBFCs gain this authorization under the light of their success in the Indian financial markets that they have reaped over the years. However, NBFCs haven’t got permission to operate in an independent framework yet. Instead, […]

Non-Banking Financial Institutes, aka NBFCs, are the anchor of the financial sector, accountable for the 12.5% rise in GDP. Unlike earlier days, NBFC registration is now quite easy to perform due to less paper. Before we address this registration process briefly, let us shed some light on the basics of NBFCs, whose role is to […]

Have you ever dreamt of isolating your income from probable taxes? We bet you did, maybe countless times. But let face it- this is something you can’t refuse or overlooked. Well, most of us look at taxes as a financial burden. What could maximize our stress could be a lack of knowledge in regards to […]

Resolutions passed at an adjourned meeting is a provision mentioned under section 116 of Company act 2013 states that where a decision is approved at an adjourned meeting of a company or shareholders; the resolution shall be deemed as passed. . There are still many people out there who seek a brief explanation in the […]

This provision under Companies Acts section 190 states that there were a few numbers of resolutions that cannot approve without prior notice given to the company. Legislative Background After getting a successful approval of company registration, there are few things needs to be considered, such as a special notice shall be provided by the board […]

Circulation of member resolution generally indicates the resolution authorized by the circulation among the members of the board or directors. The resolutions often passed under the state of urgency or to avoid the requirement of assembling the physical board meeting.  Alternatively, the board members can play the same role in this regard. Those members who […]

Generally, a trust is recognized as a legal document that can be created during a lifespan of a person and sustain even after its death. This legal document can also be created by a will and even formed after the demise of the concerned person. In the blog, we have descriptively outlined the type of […]

80G is a certificate of tax exemption that you got when you made donations to charitable trusts or organizations that are registered under section 12 A. There is, however, a criterion for the maximum permissible deduction. The rule is “if the overall donation amount exceeds 10% of the total gross income, then the excess amount […]

The Micro-Small and Medium Enterprises (MSME) is primarily defined in terms of their investment size. In the context of the manufacturing sector, the MSMEs are basically categorized by the investment made in the plant for service sector organizations.  These types of companies play a significant role in the economy by employing a good volume of […]

The High Court of Punjab and Haryana has come to a critical verdict regarding the accumulation of account done by the specific society. The honourable courts have mentioned that if the threshold of the amount accumulation surpassed 15% figure, then it should utilize for a particular purpose rather than future aim or objects. Significantly, this […]

Fixing an inaccuracy in the tax return does not always demand a revised return. If you have received intimation from the Income Tax Department[1] under section 143(1) regarding an error, you are entitled to file a rectification. An ITR rectification (under section 154(1)) is provided by the Income Tax Department for the correction of the […]