Government planning to levy penalty for old currency holders post December 30

As per fresh reports from PTI, Government is planning to penalize holders of old currency notes post December 30. As per the notification from RBI and declaration of old currency recall from Government, a period of 50 days was granted to deposit such scrapped notes into bank accounts. RBI has additionally allowed depositing of such old notes at selective...

RuPay Card Transactions are increasing but not yet that satisfactory

Though under Jan Dhan Scheme of opening Bank Accounts and providing cheap plastic cards to masses, crores of RuPay cards were distributed, it is still not the leading medium of transaction. Nearly 80% of such cards are linked with Jan Dhan Accounts which see low volume of transaction, almost negligible percentage. Remaining 20% of cards are with other account...

New PAN Application Form 49AA – For Foreign Citizens/Entities

Form 49AA is to be filled by Foreign Citizens or Entities only, i.e. by Foreign Citizens (including HUF), AOP/BOI, Companies, Trusts, Entities, Corporate Bodies, etc. either being incorporated entities outside India or for unincorporated entities formed outside India. Usually within a month, new PAN card is issued by Income Tax Authorities. For more details, see the form along with...

New PAN Application Form 49A – For Indian Citizens/Entities

Form 49A is to be filled by Indian Citizens only, i.e. by Indian Citizens (including HUF), AOP/BOI, Companies, Trusts, Entities, Corporate Bodies, etc. either being incorporated entities in India or for unincorporated entities formed in India. Usually within a month, new PAN card is issued by Income Tax Authorities. For more details, see the form along with instructions on...

Declaration and Payment of Dividends

Literal meaning of ‘’ means shareholders’ share of profits payable from the profits of the company. However, there can be two types of dividend, one that is paid in relation to going concern based activities i.e. normal business activities and the other one at the time of liquidation of the company in relation to shareholders’ share in the company. Declaration...