Section 115-UB Tax on income of investment fund and its unit holders Introduction & Its Applicability: Section 115-UB of Income Tax Act, 1961 shall be inserted by the Finance Act, 2015, and is applicable w.e.f. 01-04-2016.
Allotment of shares to FDI A. Time period for Issue of Certificate: • The capital instruments should be issued within 180 days from the date of receipt of the inward remittance received through normal banking channels including escrow account opened and maintained for the purpose or by debit to the NRE/FCNR (B) account of the […]
Pullovers for Start-ups With the unveiling of “Start-up India, Stand up India Scheme”, the Hon’ble Indian Prime Minister boosted the spirit of entrepreneurs and potential entrepreneurs & business managers to define their talents, skills and competence on a global scale. This is evident from Nasscom’s latest report published in 2015, where India stands third globally […]
Prevalence of Provisions of SICA prevails over Companies Act Where a winding up order is passed by court but before final dissolution of company and a reference is made to BIFR under Section 15 of Sick Industrial Companies Act , and then a question will arise that if provisions of Companies Act will prevail or […]
IFRS Impact on Oil and Gas Sector Introduction International Financial Reporting standards (IFRS) are a set of accounting standards developed by the International Accounting Standard Board (IASB). IFRS is based more on principles when compared with US GAAP which is more rule based standard. One of the reasons for adapting to IFRS is the need […]