In the corporate financial ecosystem, businesses often require capital for growth and expansion. While raising such capital through loans and borrowings, companies usually offer security over their assets. This security interest is legally termed as…
Form 10-IEA is a new form introduced under Section 115BAC(6) of the Income Tax Act, 1961 for opting into the new tax regime under Section 115BAC(1A), which became the default tax regime from Financial Year…
The Input Tax Credit (ITC) mechanism lies at the heart of the Goods and Services Tax (GST) regime, ensuring a seamless flow of credit to avoid cascading tax. However, the benefits of ITC are not…
To encourage savings and reduce the tax burden on small interest incomes, the Income Tax Act provides deductions on interest earned from savings bank accounts and fixed deposits under Section 80TTA and Section 80TTB. Section…
Section 90 of the CGST Act, 2017, deals with the tax liability of a firm and its partners. It places joint and several liability on all partners of a firm for any tax, interest, or…
Sweat Equity Shares are equity shares issued by a company to its directors or employees at a discount or for consideration other than cash, in recognition of their work, value additions, or intellectual property. These…
In the course of setting up, expanding, or restructuring a business, companies and other eligible entities often incur substantial preliminary and professional expenses. These expenses, though capital in nature, are crucial for facilitating the long-term…
Under the Goods and Services Tax (GST) system in India, registration is mandatory for individuals and businesses that meet specific criteria, such as turnover limits or specific business activities. However, there may arise situations where…