"18 January 2012" Archive

New Guidelines for preferential allotment by unlisted public companies

NA

On 14 December 2011 the Ministry of Corporate Affairs (MCA) has issued Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011 (Amendment Rules) which is effective from the date of publication in Official Gazette. The Amendment Rules provide for amendment of Unlisted Public Companies (Preferential Allotment) Rules, 2003 (...

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Posted Under: Company Law |

Publication of Latest Acts in the Gazette of India

The following Bills, after having received the assent of the President on 12th January, 2012, have been published as Acts in the Gazette of India, Extraordinary, Part-II, Section-1, dated the 13th January, 2012: 1. Constitution (Ninety Seventh Amendment) Bill, 2011 as the Constitution (Ninety seventh Amendment) Act, 2011; ...

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Posted Under: Company Law |

CA Final November, 2011, CPT December, 2011 result expected to be declared today at 2.00 P.M

The results of the Chartered Accountants Final Examination held in November, 2011 and Common Proficiency Test (CPT) held in December, 2011 are likely to be declared on Wednesday, the 18th January, 2012 around 2:00 PM...

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Posted Under: Company Law |

States Seek Growth-Centric Budget in Pre-Budget Consultations with union Finance Minister

The Union Finance Minister, Shri Pranab Mukherjee has emphasized that in a federal country like ours, States and Centre complement each other in managing the fiscal policy and the economy. He said that coordination between Centre and States is extremely vital for creating a conducive environment for growth and inclusive development in the...

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Posted Under: Company Law |

Govt to address slippages in economic parameters in Budget – FM

Following is the text of the address delivered by the Union Minister of Finance Shri Pranab Mukherjee on the occasion of 84th Annual General Meeting of Federation of Indian Chambers of Commerce and Industry (FICCI) here today:...

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Posted Under: Company Law |

Company Law Board (Amendment) Regulations, 2012 – Amendment in regulation 30

Notification No. G.S.R. 32(E) (18/01/2012)

These regulations may be called the Company Law Board (Amendment) Regulations, 2012. 30 Inspection of record and supply of certified copies - (1) The record of a pending case shall be open, as of right, to the inspection and supply of the certified copies thereof to the parties or their authorised representatives, on making an application...

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How to Fill PAN Form No. 49A

The following persons should apply for allotment of PAN in Form 49A‑ Every person whose assessable income exceeds the maximum amount which is not chargeable to tax or any person carrying out business or profession whose total sales/turnover is likely to exceed Rs 5,00,000 in a year. A person who is required to furnish return unde...

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Sebi cut the timeline for completion of buy back of shares by listed companies to 34-44 days

Sebi has reduced the timeline for completion of buy back of shares by companies to 34-44 days. Earlier, the buyback process could take anywhere between 63 and 114 days. These changes form a part of amendments made by the regulator in the Sebi (Buy back of Securities) Regulations, 1998. They have come into effect from January 3....

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Posted Under: Company Law |

Gold and Silver to become expensive as Govt changes Import Duty and Excise Duty Structure

Gold and silver are set to become more expensive as the government has changed the duty structure on precious metals from specific to value-linked. The change will enable the exchequer to rake in an additional 600 crore rupees during the remaining months of this fiscal. As per the changes, customs and excise duty will now be levied on the...

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Posted Under: Company Law |

Revenue cannot prefer appeal before ITAT if tax effect is below the prescribed limit of Rs. 3 lacs

Dy. Commissioner of Income Tax Vs Shri Hridey Vikram (ITAT Delhi)

Dy. Commissioner of Income Tax Vs Shri Hridey Vikram (ITAT Delhi)- CBDT, vide above instruction has clearly laid down that the revenue should not prefer appeals against assessees before ITAT if the tax effect involved in the appeal, excluding interest, is less than Rs. 3 lacs. The tax payable in the present appeal being below Rs. 3 lacs, ...

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