Transfer Actionable Claims, 1882: Section 3 of the Transfer of Property Act, 1882, which was amended by the Amending Act II of 1990, defines an actionable claim. It is a mobile intangible asset whose transfer is covered in Chapter VIII of the Act. What is an Actionable Claim? Examples of Actionable Claims Exceptions of Actionable …
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Right to Freedom Article 19 Article 22: One of the basic rights enacted in India’s constitution is the right to freedom. For the functioning of Indian democracy, the six fundamental rights set out in the Constitution are considered essential. The right to freedom gives citizens the basic freedom of expression, forming associations, freedom to liberty, …
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Factors Affecting Investment Under Section 80C: One of the best ways when it comes to saving income tax is to declare all the investments under Section 80C. Any individual or HUF can save up to 1,50,000 just by declaring all the investments and expenses under section 80C of the Income Tax Act. In the process …
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E-way Bill GST: The GST Eway Bill was introduced on 1st April 2018. The e-Way Bill GST is an electronic document that needs to be generated before the goods are transported or shipped in excess of INR 50.000 within the state or intrastate. The transporter or the person in charge of the transport must have …
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Basics GST: The full form of GST is Goods and Services Tax. It is an indirect tax that has substituted many of India’s indirect taxes, including excise duties, VAT, services tax, etc. On 29 March 2017, the Goods and Services Tax Act was adopted in Parliament and entered into force on 1 July 2017. The …
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Difference Between Insolvency and Bankruptcy: Individuals and businesses both are referred to as insolvency. Individual bankruptcy is referred to as bankruptcy, while corporate insolvency is referred to as corporate insolvency. Both terms refer to a situation in which a person or a firm is unable to pay the debt now or in the near future …
Cross Examination Principles: Cross-examination is the process by which a party appearing before the court asks the party of the opposition witnesses to establish the truthfulness of its claims. These are issues a lawyer addresses to a witness of an opponent in order to receive privileged information from that witness. In this article, let’s learn …
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GST Composition Scheme for Service Providers: The government has implemented a compositional scheme to help small taxpayers and reduce the burden of compliance. A compositional dealer is required to keep fewer accounts/books and not to file monthly returns. Previously, only the suppliers of goods had access to the scheme. However, it was announced at the …
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TDS on Dividend Section 194: Deducting tax at source is required of the principal officer of an Indian company or a corporation that has made the requisite arrangements for the declaration and payment of any dividend (including dividends on preference shares) to a shareholder who is a resident of India. On this page, let’s learn …
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Leave Travel Concession Section 10(5): The leave travel allowance shall be an allowance granted by an employer for traveling with or without a family in India to his employee. Under certain conditions under Section 10(5) and Rule 2B, the amount received as LTA shall be tax-free under the Income Tax. LTA is sometimes also referred …
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Invoice Terms and Conditions: When you buy a service from a company, you are required to read and sign a document called the “Terms and Conditions.” The usage of the service between the customer and the seller is governed by this written piece of information, which is an important part of the agreement between the …
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