DEEKSHITH KUMAR PUTTUR

One of the important characteristics of the company is that the company is distinct form its members. This principle is known as "the veil of incorporation". The corporate veil protects the members from the liability of the company. It is a statutory privilege and it must be used for legitimate business purposes only. If it is used for any fraudulent or dishonest purpose, the court will breakthrough, this shelter of separate legal personality and and apply the principle/doctrine of what is called as “lifting of or piercing the corporate veil”. In this action, the court will look at the persons behind the company who are the real beneficiaries of corporate fiction. Cases in which the corporate veil has been lifted: 1. For protection of revenue The court will allow piercing of corporate veil if it is of the opinion that the company has been formed for evading the tax or to, circumvent tax obligations. If such is the case, the court will disregard the corporate entity and would ...

Meaning It refers to the ascertainment of marginal cost by differentiating between fixed and variable cost. It is a technique in which only variable costs are taken into account for purposes of product costing, inventory valuation and other allied important management decisions. It is developed to overcome the deficiencies of absorption costing. It is also known as variable costing. Definition J Batty defines, Marginal costing as, "a technique of cost accounting which pays special attention to the behavior of costs with changes in the volume of output” According to ICMA, London , “the ascertainment of marginal costs and of the effect on profit of changes in volume or type of output by differentiating between fixed costs and variable costs”. ICMA, London defines Marginal Cost as, “the amount at any given volume of output by which the aggregate costs are changed if the volume of output is increased or decreased by one unit”. It is a variable cost of one unit of a product or a servi...

Business law or Commercial law deals with the sale and distribution of goods. Whereas Corporate or Company Law is a legal field that governs the formation of companies, shareholder rights, mergers, and acquisitions.  Company law in India, is the cherished child of the English Parents. Company legislation in India owes its origin to the English Company Law. Joint Stock Companies Act, 1844 in England, the first Companies Act was passed in India in 1850. After this, The Amending Act of 1857 conferred the right of registration of companies with or without limited liability. Subsequently this right was aslo granted to banking and insurance companies by an Act of 1860. The Companies Act of 1856 was introduced which repealed all the previous Acts. This Act included the aspects of incorporation, regulation and winding up of companies and other associations. This act was also amended in the year 1882, 1913, 1936. In 1948, England passed a comprehensive Companies Act in England. By the mean ...

Under the head 'Income from house property' the basis of charge is the annual value of property (Sec. 22) 1) consists of any buildings or lands appurtenant thereto, 2) of which the assessee is the owner and 3) which is not used for purpose of assessee's business or profession. 1. B uildings or lands appurtenant thereto The land appurtenant to the building includes compound, play-ground, kitchen-garden, courtyard, etc. In the case of non residential building, car parking spaces, drying grounds, play grounds, connecting roads in the factory area shall be lands appurtenant to building. A land which is not appurtenant to any building does not come within the scope of this section. Income from such land is taxable under the head 'Income from other sources'. Exceptions: 1. Building or staff quarters let out to employees and others. 2. If building is let out to authorities for locating bank, post office, police station etc., 3. Composite letting of building with other asse...

In statistical survey, variables are observed. If observations concern a single variable, the resulting data is a univariate data. On the other hand, if observations concern two or more variables, the resulting data is multivariate data. In the case of two variables, it is bivariate data. Eg: Height and Weight of Students, Price and Demand of the product etc., In these, there are a few paired observations of variables x and y. If the number of such pairs of observations is large, the data can be tabulated. The resulting frequency distribution is called bivariate frequency distribution. [ CORRELATION ] [ When data regarding two or more variables are available, we may study the related variation of these variables. For example, in a data regarding height (x) and weight (y) of students of a college, we find that those students who have greater heights would have greater weight, also, students who have lesser height would have lesser weight. This type of related variation among variables i...