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How to Import Goods From China to India
In 2020, India imported goods worth $58.71 billion from China. This makes China India’s top import partner. Major Chinese imports included consumer electronics, telecom instruments, computer hardware and peripherals, electrical equipment, fertilizers and chemicals. India continues to import from China despite Covid-19, escalating border tensions with Beijing and growing fears that it will be flooded […]
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Arpita Maharana
December 18, 2023 at 07:05 AM
Section 43C of Income Tax Act, 1961: Special provision for computation of cost of acquisition
(1) If an asset acquired by an amalgamated company under a scheme of amalgamation is sold by the amalgamated company after the 29th day of February 1988 as stock-in-trade of the business it is engaged in, the cost of acquisition of the said asset to the amalgamated company in determining the profits and gains from […]
Harmehak Kaur Anand
December 18, 2023 at 06:30 AM
Section 54EE- Capital Gain Not To Be Charged On Investment In Units Of A Specified Fund
The Income Tax Act, of 1961 is the main statute of Income Tax in India. It provides for levy, administration, collection, and recovery of Income Tax. Section 54EE talks about the long-term capital gain exempted when invested in long-term assets. One can claim this exemption by following a few conditions. Following assets are not considered […]
Alka Pranjal
December 15, 2023 at 12:35 PM
Offer For Sale Of Shares In A Company: Section 28, Companies Act 2013
*28. (1) Where certain members of a company propose, in consultation with the Board of Directors to offer, in accordance with the provisions of any law for the time being in force, whole or part of their holding of shares to the public, they may do so in accordance with such procedure as may be […]
Swagata Pramanik
December 15, 2023 at 12:27 PM
SECTION 44AF SPECIAL PROVISIONS FOR COMPUTING PROFITS AND GAINS OF RETAIL BUSINESS
Sub Section 01- In the case of an assessee engaged in retail trade of any goods or merchandise, regardless of anything to the contrary contained in sections 28 to 43C, a sum equal to 5% of the total turnover on account of such business in the previous year, or, as the case may be, a […]
Yashika Thakran
December 15, 2023 at 12:13 PM
Stamp Duty on Affidavit – Rates in Different States in India
An affidavit is a written statement of fact voluntarily made by the person under an oath or affirmation before a person authorized by law. An affidavit to be valid has to be executed on Stamp paper or duly stamped otherwise and has to be notarized by a Notary public or commissioner of oaths. The affidavit […]
Harmehak Kaur Anand
December 15, 2023 at 10:35 AM
Section 16 Of Companies Act 2013: Rectification Of The Name Of A Company
Section 16 of the Companies Act, 2013 talks about the Rectification of the name of a Company. If, through inadvertence or otherwise, a company on its first registration or on its registration by a new name, is registered by a name which, — (a) in the opinion of the Central Government, is identical with or […]
Swagata Pramanik
December 15, 2023 at 09:29 AM
Vacation Of Office Of Director Under Companies Act 2013 (Section 167)
Vacation of Office of Director This section applies to both private and public companies. The office of a director is considered vacant in the following cases: a) If the Director is Disqualified: If the director of a company is disqualified as per section 164 of the Companies Act 2013, then he would have to vacate […]
Shubham Mishra
December 15, 2023 at 07:24 AM
Section 41 Of Companies Act 2013: Global Depository Receipt
A depository receipt is an instrument that is denominated in a foreign currency. It is issued by a foreign depository to a domestic administrator and is listed on an international exchange. A Global Depository Receipt (‘GDR’) is an instrument in the form of a depository receipt generated by a foreign depository outside India and authorized […]
Swagata Pramanik
December 15, 2023 at 07:19 AM
Virtual Office Services in Bangalore
How to get Virtual Office Services in Bangalore? Virtual offices have become popular in the dynamic setting of Bangalore’s business world. Consequently, modern technological innovations, worldwide trends as well as the transformative effect of the COVID-19 have challenged the conventional notion associated with a typical office space. The establishment of virtual offices has been proved as a […]
Arya Panda
December 14, 2023 at 11:50 AM