-
The Significance of Annual Reports for Corporations and Stakeholders
Understanding the Significance of Annual Reports for Corporates and StakeholdersIntroduction: The Annual Report as a Corporate ScorecardEvery financial year, companies are required to prepare an annua...
-
Ensuring the Integrity of Joint Development Agreements: The Necessity of Precise Drafting, Civil Resolution Mechanisms, and Procedural Compliance
Introduction: The Dynamics of Joint Development Agreements in Real Estate(i) Overview of Joint Development AgreementsJoint Development Agreements (JDAs) have become a cornerstone in India’s real estat...
-
Issuing Shares for Non-Cash Consideration: Provisions and Procedures under the Companies Act, 2013
OverviewThe Companies Act, 2013 enables Indian companies to issue shares in exchange for assets, services, business acquisitions, or conversion of certain liabilities, instead of cash. Section 62(1)(c...
-
Guide to GST Return Amendments for FY 2024-25: Adjustments, Input Tax Credit, Reverse Charge Mechanism & Key Deadlines
Amendments in Outward Supplies (Sales/Services)i) Modifications and Corrections in Outward SuppliesAs per Section 37(3) of the CGST Act, 2017, any omissions or errors in reporting sales, credit/debit...
-
Recent Revisions in GSTR-1: Modifications in GST Outward Supply Reporting
IntroductionThe GST Council has introduced significant amendments to the GSTR-1 form, transforming the reporting structure for outward supplies. These changes, notified via Notification No. 12/2024 –...
-
Revised Compliance for First Auditor Appointment: Mandatory ADT-1 Filing from 14 July 2025
Introduction to the New MCA DirectiveThe Ministry of Corporate Affairs (MCA) has issued a crucial amendment to the Companies (Audit and Auditors) Rules, 2014, introducing a new compliance step for com...
-
Critical Evaluation of the Supreme Court’s Approach to Employee Secondment and Service Tax: Insights from the Northern Operating Systems Judgment
Overview and Contexti. Introduction to the Issue of Secondment and Tax LiabilityThe characterization of secondment arrangements—where employees are temporarily transferred from an overseas group compa...
-
Revisiting the Fundamentals: Tribunal Clarifies Lower Authorities’ Misinterpretation on Section 54B Exemption
1. OverviewOccasionally, judgments and orders issued by judicial forums require us to revisit foundational principles to grasp the rationale behind their decisions. Such a situation arose upon reviewi...
-
Critical Review of the 28% GST on Online Gaming in India: Legal and Economic Perspectives
Introduction: GST on Online Gaming—A Uniform ApproachThe Group of Ministers (GoM), established to examine the taxation of online gaming, has recommended a flat Goods and Services Tax (GST) rate of 28%...
-
Corporate Social Responsibility (CSR) Framework in India: Eligibility, Net Profit Computation, and Compliance
Overview of CSR in Indiai) Introduction to CSR RequirementsCorporate Social Responsibility (CSR) in India is regulated under Section 135 of the Companies Act, 2013, together with the Companies (Corpor...
-
Renewal of Registration under Section 12A and Section 80G: Guidelines and Practical Considerations
Overview of Section 12A and 80G Registration RenewalCharitable and religious organizations in India can avail themselves of tax exemptions and benefits under the Income Tax Act, 1961, particularly via...
-
Accounting Treatment for Machinery Dependent on Separately Acquired Software under Indian Accounting Standards
Introduction and BackgroundNewTech Manufacturing Private Limited, an Indian company, has imported advanced robotic equipment with an intended technical life of 15 years. However, this machinery cannot...
-
Accounting for Dividends Declared Before the Balance Sheet Date but Paid After: AS 4 Perspective
1. Background and ScenarioAuric Fabrics Private Limited, a company in India engaged in textile production, prepares its annual financial statements in accordance with the Accounting Standards (AS). Fo...
-
SCN - Specimen Reply to Show Cause cum Suspension Notice Alleging Breach of Rule 86B, CGST Rules, 2017
Date: <DD/MM/YYYY>To,The Jurisdictional GST OfficerSubject: Response to Show Cause cum Suspension Notice No. _______ dated _______ for the Financial Year <20XX-XX> under Rule 86B, CGST Rules, 2017GSTI...
-
Addressing GST TDS Reconciliation Complexities for Infrastructure Companies
Overview of GST TDS Provisions(i) Mechanism and Applicability of GST TDSUnder the Goods and Services Tax framework, tax deduction at source (TDS) serves as a compliance measure wherein designated reci...
-
Overview of Preferential Allotment of Shares under the Companies Act, 2013
1.1 Introduction to Preferential AllotmentPreferential allotment is a strategic financing tool enabling Indian companies to issue shares or convertible securities to a specifically identified group ra...
-
Distinguishing Private Placement and Preferential Allotment: Practical Insights for Capital Raising in India
Introduction: Capital Raising Mechanisms for Unlisted CompaniesUnlisted companies in India often rely on two prominent methods to raise funds without resorting to a public issue: Private Placement and...
-
Introduction to Private Placement of Shares: Regulatory Framework and Compliance Essentials
1. Introduction to Private Placement of Shares: Regulatory Framework and Compliance EssentialsPrivate placement is a strategic means for companies to raise capital by offering securities to a specific...
-
Determining the Annual Value of Self-Occupied Property under the Income Tax Act, 1961
Comprehensive Guide to Annual Value of Self-Occupied House Property under the Income Tax Act, 1961Overview: Taxability of House Property Incomei) Scope and ApplicabilityIncome from house property is t...
-
Interpretation of Surcharge Applicability on Private Discretionary Trusts: Insights from ITAT Special Bench Ruling
Background and OverviewThe Income-tax Act, 1961, includes several provisions that, while appearing straightforward at first, reveal deeper complexities upon more thorough examination. Judicial pronoun...