What is a Contract? Key Elements and Why They Matter
What is a Contract? Key Elements and Why They Matter INTRODUCTION A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of their relationship. It is a voluntary agreement between parties that is enforceable by law. Contracts are a fundamental part of business, commerce, and everyday life, […]
Wills in India – Importance, Essentials and Legal Requirements
Wills in India – Importance, Essentials and Legal Requirements INTRODUCTION Will, also known as a last will and testament, is a legal document that outlines an individual’s wishes regarding the distribution of their assets, property, and belongings after their death. It is a vital document that ensures one’s estate is managed and distributed according to […]
Issue of Duplicate Share Certificates
Issue of Duplicate Share Certificates INTRODUCTION Share certificates are vital in corporate governance, providing evidence of share ownership for shareholders to assert their rights and receive dividends. Yet, when certificates are lost, obtaining duplicates becomes imperative, regulated by stringent company laws and procedural guidelines. The issuance of duplicate share certificate is a crucial component of […]
Navigating Trusts: Understanding Composition, Registration, Structure, and Tax Effects
Navigating Trusts: Understanding Composition, Registration, Structure, and Tax Effects INTRODUCTION Anyone can create a trust in India. The Indian Trust Act, 1882 (‘Act’) governs the private trusts established in India. This Act is applicable to the whole of India. But, it does not apply to the Waqf, mutual relations of the members of an undivided […]
Recover by Financial Creditors by Filing Application Under Section 7 of The Insolvency and Bankruptcy Code, 2016
Recover by Financial Creditors by Filing Application Under Section 7 of The Insolvency and Bankruptcy Code, 2016 INTRODUCTION The Insolvency and Bankruptcy Code (IBC), 2016, was enacted to consolidate and amend the laws relating to insolvency resolution in India. It was introduced to provide a streamlined and time-bound process for resolving insolvency among corporate entities, […]
Consultancy Agreement
CONSULTANCY AGREEMENT Consultancy agreement is a contract that makes it easier for the entrepreneur and consultant to work together. In exchange of fees and payments to the consultant, the entrepreneur decides to provide consultancy services. The consultant is to provide a specific benefit under the terms of consultancy agreements. The clients hire the consultant to […]
TCS limit hiked for Foreign Remittances in Budget 2025
TCS limit hiked for Foreign Remittances in Budget 2025 The Finance Minister proposed welcoming changes to TDS and TCS rules with the goal of rationalizing threshold limits, providing relief, and reducing the compliance burden for both taxpayers and deductors. FM has increased the tax collected at source limit from Rs.7 lakh to Rs.10 lakh in Budget […]
Blocked Credits under GST
Blocked Credits under GST Blocked credits refer to specific purchases where GST is paid, but businesses cannot claim these as Input Tax Credit (ITC). Below is a clause-by-clause analysis of Section 17(5) of the CGST Act with examples. Conveyance & Transportation ITC cannot be claimed on vehicles purchased for passenger transportation such as: Four-wheeler motor […]
Whether Non-Resident Indians (NRI) can invest in INDIA?
Whether Non-Resident Indians (NRI) can invest in INDIA? Yes, Non-Resident Indians (NRIs) can invest in mutual funds in India through their NRE or NRO accounts. However, some mutual fund companies may have restrictions for NRIs from certain countries. Eligibility NRIs need to have a PAN card. NRIs can complete their KYC online. Investment process NRIs […]
What is the Insolvency and Bankruptcy Code (IBC)?
What is the Insolvency and Bankruptcy Code (IBC)? The Insolvency and Bankruptcy Code, 2016 (IBC), is a comprehensive and consolidated framework enacted by the Government of India to address insolvency and bankruptcy issues in a time-bound and efficient manner. Before IBC, insolvency laws in India were scattered across multiple legislations, leading to delays, inefficiencies, and […]
