A double-entry bookkeeping system is where a corresponding entry is made for every transaction, i.e. debits and credits. The basis of the double-entry bookkeeping system is that every transaction has two parts and affects two ledger accounts. The double-entry system of bookkeeping deals with two or more accounts for every business transaction. For example, if […]
Definitions In this Chapter, unless the context otherwise requires,— [(a) “business of a non-banking financial institution” means carrying on of the business of a financial institution referred to in clause (c) and includes business of a non-banking financial company referred to in clause (f);] [(aa)] “company” means a company as defined in section
Chapter IIIB not to apply in certain cases The provisions of this Chapter shall not apply to the State Bank or a banking company as defined in section 5 of the Banking [Regulation] Act, 1949 (10 of 1949) or [a corresponding new bank as defined in clause (da) of section 5 of that Act or a subsidiary
Section 194H of the Income Tax Act, 1961 mandates Tax Deduction at the Source (TDS) on commission or brokerage payments to a resident individual. Any person not being an individual or HUF paying any commission or brokerage is liable for TDS under section 194H since commission or brokerage serves as a source of income. However, this section
The scheme of “Financial Assistance for the Marriage of Daughters of Poor Widows and Orphan Girls” is the welfare scheme by the Government of National Capital Territory of Delhi to provide financial assistance to poor widows for performing the marriage of their daughters (up to two daughters) and to provide financial assistance to the guardians
Establishing a company in the Netherlands offers numerous advantages, including a strategic location in Europe, a stable economic environment, and a favorable tax climate. As a leading service provider specializing in company registration in the Netherlands, we aim to guide you through the process, highlighting key considerations and addressing common search queries such as “company
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Certain claims for compensation barred No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions of this Chapter.
Disclosure of information prohibited (1) Any credit information contained in any statement submitted by a banking company under section 45C or furnished by the Bank to any banking company under section 45D, shall be treated as confidential and shall not, except for the purposes of this Chapter, be published or otherwise disclosed. (2) Nothing in
Procedure for furnishing credit information to banking companies (1) A banking company may, in connection with any financial arrangement entered into or proposed to be entered into by it, with any person, make an application to the Bank in such form as the Bank may specify requesting it to furnish the applicant with such credit
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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