Employee Stock Ownership Plans (ESOPs) have become an increasingly popular form of compensation for employees, particularly in startups and large corporations. These plans offer employees the chance to own shares in the company they work for, aligning their interests with the company’s long-term success. While ESOPs are an attractive option for wealth creation, understanding the tax implications is crucial for maximizing their benefits. What are…
On September 3, 2024, the GSTN issued an advisory regarding the new Invoice Management System (IMS).
For any business, opening doors to new opportunities is crucial for growth. Companies often place significant emphasis on business development professionals who can charm, negotiate, and connect with potential clients or partners. These individuals are often the face of the company, adept at building relationships and identifying new avenues for expansion. However, while an attractive business development person can certainly open the door, one needs…
The introduction of Significant Beneficial Owner (SBO) provisions in the Companies Act represents a pivotal development in India’s efforts to enhance corporate transparency and combat financial malfeasance. These provisions, aligned with global standards, target tax evasion, money laundering, and other illicit activities often hidden within complex corporate structures. By requiring companies to identify and disclose those with significant influence, the SBO provisions enhance accountability in…
