Company needs additional capital and keeps the voting rights of the existing shareholders proportionately balanced, the company issues Rights shares. The issue is called so as it gives the existing shareholders a pre-emptive right to buy new shares at a price that is lesser than market price. The Rights issue is an invitation to the […]
A merchant discount rate is the rate levied on debit and credit card transactions to a merchant for the payment processing services. Before accepting debit and credit cards as payment the merchant must set up this service and agree to the rate. The merchant discount rate is a price that merchants must take into consideration when calculating their company’s overall costs. Most retailers will expect
A write-off is a business accounting expense that accounts for unreceived payments or losses. A write-off reduces taxable income on a company’s income statement. What is a Write-Off? In accounting, a write-off reduces the value of an asset on the balance sheet while debiting a liabilities or expense account. Businesses use write-offs to account for losses such as unpaid loans, unrecoverable receivables, or unusable
GST, or the Goods and Services Tax, was first introduced in India on July 1st, 2017. Interstate and intrastate GST are the most important components of GST as it helps one determine whether IGST, CGSST, or SGST is to be paid. Whether a supply is considered interstate or intrastate depends on the location of the supplier and the place
Short title, extent and commencement (1) This Act may be called the Trade Marks Act, 1999. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of
The Income Tax Act, 1961, levies a tax on every individual who earns an annual income over the tax-exempt limit, at a prescribed rate. In this regard, a senior citizen’s earnings can exist in the form of pension, interest on savings, fixed deposits, rental income, reverse mortgage, etc. According to the ITA, these sources of
The National Health Policy (NHP) is a framework set by the Government of India to guide the development and implementation of healthcare services in the country. The latest version, NHP 2017, focuses on providing affordable, accessible, and quality healthcare to all citizens. Overview The National Health Policy 2017 continues to build on the progress made
Report published in collaboration with TransUnion Cibil and Microsave Shows 42% Year-Over-Year Growth in Women Borrowers NITI Aayog today launched the report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”. The report launched by CEO NITI Aayog, Shri B.V.R. Subrahmanyam reveals that more women in India are seeking credit and actively
The Financial Assistance for Promotion and Strengthening of Regional and Local Museums is a scheme launched by the Ministry of Culture, Government of India to support regional and local museums across the country. This scheme aims to improve museum infrastructure, enhance collections, and promote cultural heritage preservation. Objectives of the Scheme Development of Museums –
Income Tax Department to establish a taxable individual’s or company’s residence status. It is especially important during the tax filing season. In reality, this is one of the variables used to determine a person’s taxability. Residential Status for Income Tax An individual’s taxability in India is determined by his residential status under the income tax
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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