"02 January 2010" Archive

“Corporate Governance” – Corporate Law – An Understanding?

Company Law is very complicated and interesting subject. If we look at all the corporate regulations or law, it is very clear that it focuses mainly on the interests of the shareholders. The liability of the members is limited in limited companies and as such the shareholders will be clueless often when their investment in the Company is ...

Read More
Posted Under: Company Law |

Background and summary of Companies Bill 2009

The Ministry of Corporate Affairs took up a comprehensive revision of the Companies Act, 1956 (the Act) in 2004 keeping in view that not only had the number of companies in India expanded from about 30,000 in 1956 to nearly 7 lakhs, Indian companies were also mobilizing resources at a scale unimaginable even a decade ago, continuously ent...

Read More
Posted Under: Company Law |

MVAT Notification on Delegation of Powers

Notification No. DC (A&R) PWRJJC/2009/6(2)/ADM-6 02/01/2010

In exercise of the powers conferred by sub-section (5) of section 10 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Commissioner of Sales Tax, Maharashtra State, Mumbai, hereby amends the notification No. Sr. D. C. (A & R)/PWR/1006/2/Adm-3, dated 6th October 2007 as follows, namely:—...

Read More

IT department investigating tax evasion by showing bogus investment losses, May take action against chartered accountants

Income tax department in the past has stumbled up on many strange things, but nothing as strange as a company exclusively providing bogus stock contract notes to evade taxes, a trail that may lead to it knocking on the doors of many auditors. The Mumbai I-T department estimates that around Rs 1,000 crore of taxes may have been evaded by ...

Read More
Posted Under: Company Law |

Hyderabad CBI completed investigations in 66 cases, including Satyam

IN Hyderabad Zone during the year 2009, investigations in 66 cases have been completed and in the cases where sufficient evidence has been collected, charge-sheets have been laid in the corresponding jurisdictional courts. These include the Satyam Scam Case, Cases pertaining to the public servants belonging to South Central Railways, Inco...

Read More
Posted Under: Company Law | ,

Judges may get punishment for coming late in court and for dozing off during arguments

School kids who resent being penalised for being late or for falling asleep in class can take heart. Hopefully, from the next year, even judges of Supreme Court and High Courts will be in serious trouble if they come late to court or cannot resist dozing off during arguments. Indeed, they can face inquiry and risk incurring punishment str...

Read More
Posted Under: Company Law |

Company-owned car is more beneficial for both employer and employee under the new perquisite valuation rules applicable from April 1 2009

Last week, CBDT issued a notification on how each perquisite provided to a salaried employee should be taxed. It is applicable with retrospective effect, from April 1 2009. The guidelines cover every perk: home accommodation to gifts to educational benefits. The most important change, though, is taxation of car facilities....

Read More
Posted Under: Company Law |

IT department claimed Rs 30,000 crore from companies that violated MAT provisions

Income Tax department has claimed Rs 30,000 crore from companies that have violated provisions under the minimum alternate tax. Sources said the claim is not only for the current assessment year of 2009-10, wherein assessments are still going on, but also for previous four-five assessment years, which are under litigation either in courts...

Read More
Posted Under: Company Law |

Search Posts by Date

August 2021
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031