Voluntary Liquidation
Prepared by Baskar P A voluntary liquidation is a self-imposed wind-up and dissolution of a company that has been approved by its shareholders. Such a decision will happen once a company’s leadership decides that the company has no reason to continue operating. The purpose of a voluntary liquidation is to terminate a company’s operations, wrap-up its financial […]
Technical Guide on Taxation of HUF’s
Prepared by Khusbu M Kinger Introduction: Members and Coparceners: Property of Single Member: Assessment of HUF: Capital Formation: Property Received on Succession: On intestate succession, it will be taxed as individual property and not the property of HUF to which it belongs. On testamentary succession, it will be taxed as HUF capacity provided that there are […]
Strike off a Company
Prepared by Sanjay Kumar S Compliances and Regulations under Companies Act 2013 (Sec 248 – 252) The process of striking off is an alternative mechanism to the winding up of a company. Strike off simply means removing the name of the company from the Register of Companies by the Registrar of the company (ROC). Manner of […]
Reduction of Share Capital
Companies Act, Income Tax Prepared by Baskar P Reduction of share capital means the reduction of issued, subscribed and paid-up capital of the Company. The reduction of capital is mainly done by companies for producing a more efficient capital structure. Reduction is an important event in the company’s history since the creditors of the company get impacted […]
Ind AS 40 – Investment Property
If an enterprise is engaged in deriving the lease income as its operating income, the property shall be classified as PPE. If an enterprise deriving capital appreciation or lease revenue in any other instances, then such asset shall be classified as Investment property. Investment Property: Includes – · Property of land or building or part […]
Equity Shares – Initial Issue, Rights & Bonus Issue
Prepared by Dipesh N Mehta Introduction Most companies are usually started privately by their promoter(s). However, the promoters‘ capital and the borrowings from banks and financial institutions may not be sufficient for setting up or running the business over a long term, especially when the business grows and looks to expand. So, companies invite the public […]
Beneficial Ownership – Legal Framework in India
Beneficial ownership refers to the true ownership of an asset, property or company, even if the legal ownership is held by someone else. In other words, a beneficial owner is a person or entity that enjoys the benefits of owning an asset, even if the legal title or registration is held by another party. This […]
