Sunday 23 December 2018

Parole - Legal Term Meaning

Parole -

A release of a prisoner under supervision from the imprisonment. It is based on certain conditions which entitles the prisoner to terminate his sentence for living in the prison.

En Banc - Legal Term Meanings

En Banc -

When all the judges of a court sit together.
Usually a case is heard by panel of 3 or more judges but when the case is heard or re-heard by the full court, it is said to be heard as En Banc.

Saturday 22 December 2018

Annual General Meetings (AGM) of a Company

As explained by its name, AGM is an Annual meeting which is held by the board of directors. It is necessary for every company to hold his meeting, whether public or private, limited or unlimited or has a share capital or not.

How much is the GAP between two AGMs?

The FIRST AGM of the company must be held within 9 months from the closing date of the financial year. For example: the financial year ends in March 2018 so if it is the first AGM, it must held by December 2018. (NOTE: No time extension is allowed for first AGM)

The subsequent AGMs: There must be one meeting in each calendar year. If the meeting is adjourned due to some reason and is shifted to next calendar year by any reason, it will not be considered as meeting of that year. For Example: if the meeting is scheduled for 30 December, 2018 and by any reason for adjournment, gets shifted to 3 January, 2019, It will not be considered as a meeting for 2019 calendar year.

The gap between two AGMs must not be more than 15 months. An extension to the same can be for a maximum period of 3 months.


Thursday 20 December 2018

India - Mozambique Signed Memorandum of Understanding for Archival Cooperation

The National Archives of India and the National Documentation and Information Centre of Mozambique agreed to promote friendly cooperation and professional exchanges of archives management.
It includes exchanging copies of materials or publications related to mutual interest of the countries, Mutual publication of open sources related to historical relations between both the countries.

This Bilateral Treaty was signed on November 29, 2018.

Check the Bilateral Treaty text here: https://www.mea.gov.in/Portal/LegalTreatiesDoc/MO18B3467.pdf

India and China Signs Protocol to 1995 DTAA on November 26, 2018

Republic of India and People's Republic of China signed a protocol amending the 1995 Double taxation agreement to avoid double taxation and fiscal evasion on November 26, 2018. The protocol includes amendments as per BEPS (Base Erosion and Profit Shifting) rules and the share related transaction information.

Read the Announcement here: https://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/738/Press-Release-Protocol-amending-India-China-DTAA-26-11-2018.pdf

Thursday 12 April 2018

India - HongKong Signs Double Taxation Avoidance Agreement (DTAA)

March 20, 2018, India and HongKong signs DTA to prevent fiscal evasion of taxes.
It will also provide an added advantage of

India - Qatar - Double Taxation Agreement (DTA)

March 22, 2018 The Indian Cabinet approves revision to DTAA which was signed with Qatar.

The main contribution is to

India - Ireland - Double Taxation Agreement(DTA)

On 20 February, 2002, India signed the convention for Double Taxation with Ireland.

The convention applies to residents of both the countries.

It applies in the areas of:

FRINGE BENEFITS TAX in AUSTRALIA

All your doubts related to fringe benefits taxes in Australia are available on the Australian Taxation Office Website-

Austria - Japan - Ratify DTA and Protocol

April 5, 2018, The Austrian Parliament passed a bill ratifying a Double Taxation Agreement (DTA) and its Protocol with Japan. It was signed on January 30, 2017. The new DTA will replace 1961 DTA between the two countries.

#Double Taxation Agreement
#Tax
#Evasion

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