Follow Us:

Archive: April, 2012

Posts in April, 2012

Quick Referencer On LLP Circulars (April 2011 – March 2012)

April 8, 2012 5391 Views 0 comment Print

Registration Of Companies Or Llps Which Have One Of Their Objectives To Do Business Of Architect. Integration Of Director’s Identification Number (Din) Issued Under Companies Act, 1956 With Designated Partnership Identification Number (Dpin) Issued Under Limited Liability Partnership (Llp) Act, 2008

Major Changes in Revised / New Schedule VI

April 8, 2012 19059 Views 0 comment Print

Companies now have to follow Vertical Format for presentation of financial statements; horizontal format is no longer permitted by Revised Sch-VI. The Schedule No. as required earlier has been replaced with Note No. Number of shares held by each shareholder holding more than 5% shares now needs to be disclosed. Such information will be based on shares held as on the balance sheet date.

Checklist & Resolutions for Appointment of Managing Director

April 8, 2012 22392 Views 0 comment Print

The following are the steps involved in appointment of Mr. A as Managing Director in a Company who is not an Managing Director in any other Company: 1- Convene Board Meeting, appoint Mr. A as Additional Director and pass resolution for appointment as Managing Director (sample of resolution specified hereunder) and fix date and approve notice of General Meeting for passing ordinary resolution or special resolution, as the case may be (explained hereunder)

Note on Amendments, vide Finance Bill, 2012, which will come into force with immediate effect

April 7, 2012 624 Views 0 comment Print

I am preparing this Note in order to clarify the position that none of the amendments relating to Direct Taxes, particularly those relating to TDS and TCS, will come into force with immediate effect. In other words, all the amendments relating to the Direct Taxes will become effective, only after the Finance Bill, 2012, is enacted as part of the Income-Tax Act, 1961.

Petitioner cannot approach Court just a week before the dated fixed for the examination – HC

April 7, 2012 1252 Views 0 comment Print

It is also relevant to note that in the present proceedings, the petitioner has not assailed the terms and conditions of the Counselling Brochure. Having failed to do so, he cannot be permitted to question the same, by trying to give it an interpretation which runs contrary to the clear terminology used in the relevant clauses. The Court is also not oblivious to the fact that the IIT JEE 2012 is to be held on 8.4.2012 for which the Application Forms of the candidates were required to reach the Zonal IIT as long back as on 15.12.2011. It is therefore not acceptable for the petitioner to approach the Court just about a week before the dated fixed for the examination, when even as per his own case, he had submitted his application form on 12.11.2011 after reading the eligibility conditions laid down in the Brochure. Moreover, no explanation, much less a plausible explanation has been offered by the petitioner for failing to report to IIT (Madras) on 26.7.2011, in terms of the seat allotment letter issued to him on 10.07.2011.

Auto Cancellation of Excise, Service tax Registration for non filing of Returns

April 7, 2012 10294 Views 0 comment Print

Registration of a manufacturer will be cancelled automatically if excise duty returns are not filed for six months, as per the latest government proposal. In case of a service provider, the registration will be cancelled automatically if return is not filed for 12 months, said the draft of the common excise duty and service tax form on which the Revenue Department has sought comments from stakeholders by April 30.

EPFO introduces Electronic Challan cum Return (ECR) Service

April 7, 2012 14958 Views 1 comment Print

The ECR facility is available from April, 2012. All Employers who are covered under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 are required to register their establishments on EPFO website for filing the Electronic Challan cum Return (ECR) for wage month of March 2012 (payable in April 2012) onward. The registration process has already started from 20 March, 2012.

Budget 2012 – Direct Tax Proposals Highlight

April 7, 2012 5751 Views 0 comment Print

Alternate Minimum Tax (AMT) on all persons other than companies – * Under the existing provisions, AMT is levied on LLP. Now AMT is also proposed to be levied on partnership firms, sole proprietorship, AOP

Excel Tips – How to Find duplicates items in combine columns in Microsoft Excel

April 7, 2012 4494 Views 0 comment Print

Find duplicates items in combine columns in Microsoft Excel – Enter the formula : =A1&B1 to cell C1 and copy / paste the formula to cells C2:C12 – Enter the formula : =IF(COUNTIF($C$1:C1,C1)>1,”Duplicate”,”Unique”) – to cell E1 and copy / paste the formula to cells E2:E12

Refusal To Give 30 Days For Tax Payment Is High-handed & Unlawful – HC

April 7, 2012 804 Views 0 comment Print

In the present case, as noted earlier, a provisional attachment has already been levied on 7 October 2011 under Section 281B by which the amount which was invested by the Assessee in mutual funds of SBI Mutual Funds was attached. The attachment was to the extent of Rs.36.54 Crores. That being the position evidently there would have been no basis for forming a reason to believe that if the period of 30 days was to be observed under Section 220(1), that would be detrimental to the Revenue.

Search Post by Date
June 2026
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930