S. Jaykishan

Chartered Accountants

KnowledgeBase

Exploring the application of Duomatic Principle in Indian Courts

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Exploring the application of Duomatic Principle in Indian Courts

– Adv. Priyanka Jain

– CA Sourav Khandelwal

In a significant legal victory, the Supreme Court of India sided with Mahima Datla and Ors. in their appeal against the High Court of Madras. The case centered around a director’s resignation in a company, and the court found no evidence of wrongdoing, ultimately relying on the duomatic principle to rule in favor of the appellants. This ruling underscore the importance of adhering to company regulations […] Read More >>


Section 194R – Deduction of tax on benefit or perquisite in respect of business or profession

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Section 194R – Deduction of tax on benefit or perquisite in respect of business or profession

– CA Puja Agarwal

In its further endeavour to curb the tax evasion, the Finance Ministry has introduced a new TDS provision via Finance Act, 2022, which pertains to the deduction of tax on benefits and perquisites in respect of business and profession.

According to the memorandum, the explanation of the Finance Bill, the below-mentioned aspects has been provided regarding Section 194R-

According to clause (iv) of section […] Read More >>


Detailed analysis on Issuing Bonus Debentures

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Detailed analysis on Issuing Bonus Debentures

– By CS Shreya Jain

Issue of Bonus Debentures, though not a recent phenomenon yet a unique concept does seem to see its glory days ahead. This method is seldomly used by companies, only a handful of companies have has dealt with the idea of issuance of bonus debentures to the equity shareholders was coined by Hindustan Unilever Limited back in 2001. This write up delves deep into the intricacies of issuing bonus debentures.

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Corporate Finance using Blockchain Technology

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Corporate Finance using Blockchain Technology

– By CS Shreya Jain

The realm of technology is developing at a much-needed accelerated rate in view of the recent changes happening across the globe.

The advancement technology is also getting infused in the corporate world gradually. A prime example of the same is the blockchain method. In this article we discusses about the use of blockchain method in the corporate segment.

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Individual Taxation – India & the UK

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Individual Taxation – India & the UK

– By CA Vivek Newatia
– By CS Shreya Jain

A general confusion exists between citizenship and residential status of an individual. In fact, there are instances wherein both the terms are used alternatively. However, citizenship and residential status are two independent concepts.

In this write-up, the authors have, to the best of efforts detailed out the difference amongst the two and simultaneously analysed the taxation status of an individual in the UK […] Read More >>


Section 233 of the Companies Act, 2013 A conundrum?

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Section 233 of the Companies Act, 2013 – a conundrum?

– By CA Vivek Newatia
– By CS Shreya Jain

In light of the changes in the Indian economy, the instances of corporate restructuring have significantly increased to save the companies from tumbling down further. The authors in this write up have made an attempt to analyse the intricacies of one such restructuring, viz. fast-track merger as provided under Section 233 of the Companies Act, 2013.

Fast track merger is an alternate and […] Read More >>


Analysis of Provisions of Finance Bill, 2021

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Analysis of Provisions of Finance Bill, 2021

– By Team S. Jaykishan

India’s Union Budget 2021, the first digital budget, touted as the most important budget in the decades, came at a time when India is reeling under the COVID-19 crisis. It reflects the government’s commitment on digital economy, technology, innovation, and R&D alongside adoption of new-age technologies, such as AI and ML, in administration of companies, taxation, digital payments and focus on fin-tech.

The Union Budget clearly enumerates […] Read More >>


GST e – Invoice

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GST e – Invoice

– CA Nidhi Agrawal

GST has been changing ever since its launch. The new buzz word in the area is ‘GST e-invoice’. GST e-invoice aims at curbing GST evasion through issue of fake invoices and also aims at making the returns filing process simpler for businesses. To start with initially the GST Implementation Committee have made the e-invoicing applicable for registered persons having turnover > 500 Crores.

The article compiles and discusses e-invoice, what businesses needs to do, to […] Read More >>


A compilation of COVID-19 related disclosures made in the Auditor’s Report & Financial Statements of Listed Companies

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A compilation of COVID-19 related disclosures made in the Auditor’s Report & Financial Statements of Listed Companies

– Team S. Jaykishan

The below article is a compilation of the disclosures made in the audit report and financial statements by some of the listed Companies in their Annual Report of Financial Year 19-20 in relation to the COVID – 19 outbreak. The document is updated last on 11th of June, 2020.

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Actionable Claim u/s 2(1) of the CGST Act, 2017

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Actionable Claim u/s 2(1) of the CGST Act, 2017

– By CA Nidhi Agrawal

This Article draws reference to Section 2(1) of the CGST Act, 2017 which defines actionable claim as:

“actionable claim shall have the same meaning as assigned to it in section 3 of the Transfer of Property Act, 1882”

Section 3 of the Transfer of Property Act (TPA) provides that:

“actionable claim means a claim to any debt, other than a debt secured by mortgage of immovable property or by hypothecation or […] Read More >>