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Archive: 05 January 2012

Posts in 05 January 2012

Union Budget to be presented after March 9 – Finance Minister

January 5, 2012 1163 Views 0 comment Print

The government will present the Union Budget for 2012-13 after March 9, Finance Minister Pranab Mukherjee said on Wednesday. We are working on date. We will (present) the budget after (Assembly) election is over… The code of conduct will be operational till March 9, Mukherjee said. The government has postponed the budget in view of the Assembly elections in five states of Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur between January 30 and March 3.

Service tax on Rail Freight – Deferred for sixth time in a Row

January 5, 2012 2197 Views 0 comment Print

Against the backdrop of high inflation, the implementation of levy on railway freight service has been put off once again. The levy is now likely to come into force from April 1 instead of January 1 as announced earlier. This is the sixth time that the levy on transport of goods by rail has been deferred. Finance Minister Pranab Mukherjee in the 2010-11 Union Budget brought transport of goods by railway under the service tax net from April 1, 2010.

Companies Act, 1956 – Format of Statutory Registers

January 5, 2012 39525 Views 0 comment Print

Register of investments in any shares or securities not held in its own name, Registers of deposits, Register of charges, Register of members, Index to members, Register & Index of Beneficial Owners, Copies of Annual Return, Minutes books of Board Meetings & any other meetings, Minutes books of General Meetings, Proper books of account, Register of contracts, companies and firms in which directors are interested, Register of contracts entered into by the company for the appointment of Manager or Managing Director, Register of Director/Managing Director/Manager/Whole Time Director/Secretary

Existence of a Principal – Agent relationship must for applicability of Section 194H

January 5, 2012 7784 Views 0 comment Print

SRL Ranbaxy Ltd vs. ACIT (ITAT Delhi) – In the present case, no income was found credited to the account of the collection centers. The loss on account of any damage was to be borne by the collection centers. The expenditure on salary/staff of the collection centers was to be borne by the collection centers

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