Category: Companies Act

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 to contribute towards the… Continue reading Equity Shares – Initial Issue, Rights & Bonus Issue

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… Continue reading Beneficial Ownership – Legal Framework in India

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 express or specific terms… Continue reading Technical Guide on Taxation of HUFs