Often Shares are issued at a premium. Sometimes the situation arises where we decide to issue shares at a discount. Discounted prices may be offered when a private limited company is not able to pay its debts and offer its share to its creditors. Company Act 2013 strictly prohibited public and private limited companies from …
Continue reading “Prohibition on Issue of Shares at Discount”
Liaison office is set up by a foreign company in India to carry out the liaison activity for its business. The company cannot have any revenue for the Indian Liaison office; It has to meet all its expenses of Indian office through remittances from the Head office. The Liaison office is not allowed to earn …
Yesterday interim budget was presented. It was the budget for salaried employees. Till now the major source of collection of direct tax is salaried employees.  Salaried employees used say they are paying more tax than business class person. So Budget 2019 gifted them few tax benefits. Let’s understand the benefits and how we can exempt …
Continue reading “Post budget your salary would be exempted upto Rs.7.85 Lakh”
No income tax for income up to Rs 6.5 lakh (Rs 5 lakh + Rs 1.5 lakh under 80C of the Income Tax Act) Standard deduction raised to Rs 50,000 from Rs 40,000 Direct tax proposals to provide Rs 23,000 cr relief to 3 crore taxpayers Capital Gains exemption under Section 54 to be available …
