ZERO Capital Gains Tax for residents of Singapore / UAE on sale/redemption of Mutual Funds
Recently Income Tax Appellate Tribunal (ITAT) Mumbai bench in the matter of Anushka Sanjay Shah v/s ITO, held that capital gains earned by a non-resident (Singapore tax resident) from the sale/redemption of mutual fund units in India covered under Article 13(5) of the India-Singapore DTAA hence same are not taxable in India. ITAT also relied […]
Reverse Mortgage for Senior Citizens: A Financial Lifeline in Retirement
Introduction Retirement is a phase of life that should ideally be free from financial worries. However, many senior citizens find themselves struggling to meet their daily expenses, medical costs, and lifestyle needs due to a lack of a steady income source. While savings, pensions, and family support can help, they may not always be sufficient. […]
Personal Insolvency proceedings not shield to evade statutory liabilities
Hon’ble Supreme Court of India in the matter Saranga Anilkumar Aggarwal v/s Bhavesh Dhirajlal Sheth & Ors held that appellant cannot invoke insolvency proceedings as a shield to evade statutory liabilities. The objective of the IBC is to provide a mechanism for resolving financial distress, not to nullify obligations arising under regulatory statutes. Hon’ble Supreme […]
Writ petition under Article 226 before Hon’ble High Court is not maintainable for personal insolvency case under IBC when matter pending before Hon’ble NCLT -: Hon’ble Supreme Court of India
Hon’ble Supreme Court of India in the recent judgement dated 20.02.2025 in the case of Bank of Baroda v/s Farooq Ali Khan & Ors. held that when statutory tribunals are constituted to adjudicate and determine certain questions of law and fact, the High Courts do not substitute themselves as the decision-making authority while exercising judicial […]
Format of Shareholders resolution and explanatory statement for amendment of Articles of Association for increasing authorised share capital of private limited company
SHAREHOLDERS RESOLUTION AMENDMENT OF ARTICLES OF ASSOCIATION FOR INCREASE IN AUTHORIZED SHARE CAPITAL OF THE COMPANY The members considered the proposal of amendment of Articles of Association for increasing Authorized Capital of the Company. The chairman then put the resolution to vote by show of hands and same was passed unanimously as Special Resolution. “RESOLVED […]
Format of Shareholders resolution and explanatory statement for increasing authorised share capital of private limited company
SHAREHOLDERS RESOLUTION INCREASE IN AUTHORIZED SHARE CAPITAL OF THE COMPANY AND ALTERATION IN CLAUSE V OF MEMORANDUM OF ASSOCIATION OF THE COMPANY The members considered the proposal of increasing Authorized Capital of the Company from existing Rs. __________/- (Rupees __________ Only) divided into ________ equity shares of Rs. 10/- each to Rs. __________/- (Rupees ___________ […]
Format of Board Resolution for increasing authorised share capital of Private Limited Company
INCREASE IN AUTHORIZED SHARE CAPITAL OF THE COMPANY AND ALTERATION IN CLAUSE V OF MEMORANDUM OF ASSOCIATION OF THE COMPANY The Chairman informed the Board of Directors that it is proposed to increase Authorized Capital of the Company from existing Rs. __________/- (Rupees __________ Only) divided into ________ equity shares of Rs. 10/- each to […]
THE INCOME-TAX BILL, 2025
Income tax bill 2025 – to be introduced in Lok Sabha for approval.
FORMAT OF VAKALATNAMA
VAKALATNAMA IN THE HON’BLE _____________________________________________ AT ________ SUIT / APPEAL / APPLICATION / PETITION NO. ________ OF 20___ …PLAINTIFF / PETITION / APPLICANT / APPELLANT (S) V/S … DEFENDANT / RESPONDENT (S) I/we ____________________________________________________________________________________________________________ (Name and address of Party who is providing Vakalatnama) the in the above Case, Suit, Petition, Appeal, Reference, Review or […]
Format of Board Resolution for Pledge of Equity Shares against loan facility
“RESOLVED THAT in accordance with the provisions of the Companies Act, 2013, the Articles of Association of the Company, and other applicable laws, the consent of the Board of Directors be and is hereby accorded to pledge (Number of shares) equity shares of (Name of Company whose share are pledged) held by the Company in […]