Once the bankruptcy provisions are notified, these proprietary firms will benefit, as Insolvency and Bankruptcy Board plans to consider them as individuals
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
Deposit amount can equal investor's stake, won't impact his holding as it is a loan
Thousands of unlisted companies registered with RoCs will soon go under watch on lines similar to the oversight by the Securities and Exchange Board of India of listed companies.
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
PM says FDI decision shows 'unwavering' commitment to reforms.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
Last year, the e-filing commenced on July 1 as there was delay in finalisation of the ITR forms
The Corporate Affairs Ministry's latest move comes in the backdrop of instances of private entities using the word 'National' in their names, including the case of National Spot Exchange Ltd, which is embroiled in a major payment crisis.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
Infosys, which is managing MCA21, has been facing flak from different quarters on the woes pertaining to the portal.
With Sebi clearing the final guidelines for creation of Real Estate Investment Trusts (REITs), assets worth around $12 billion are likely to be listed in the next 2-3 years.
With a new higher tax regime coming into effect from the new financial year, top corporates and wealthy investors are in a rush to restructure their shareholding.
Should we really pay attention to them, asks Ajit Balakrishnan.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
Ajit Balakrishnan offers a recipe for creating 100,000 plus angel investors in India.
The fair market value of an immovable property will be higher from the acquisition cost.
The Stayzilla episode raises questions over the regulations around the closure of a business, says Sudipto Dey.
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
Additional levy to eat into Rs 6,000-crore income of top promoters
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Many claim they fear witch hunts for disagreeing with those in power.
Iconic Dalal Street investors Rakesh Jhunjhunwala and Radhakishan Damani, known for their stock picks, have forged an unusual partnership to make Bollywood flicks.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
The Securities and Exchange Board of India's (Sebi's) planned research analyst regulations will also apply to proxy advisory services which provide advice on corporate governance and issue voting recommendations to institutional shareholders regarding company resolutions.
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
Como Stocks & Properties is into property development.
A minor fix in tax laws can make start-ups bloom, says Ajit Balakrishnan.
A minor fix in tax laws can make start-ups bloom, says Ajit Balakrishnan.
Startups in India need low-cost debt for working capital, which is impossible to get.
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
Meet Anand Kumar, a government clerk who transformed into a real estate and hospitality baron.
