"24 August 2013" Archive

Companies Bill 2013 and Role of CMAs

Role of CMAs: 1. Internal Audit (Clause 138) 2. Cost Audit for Manufacturing and Service Sector (Clause 148) 3. Merger and amalgamation of companies. (Clause 232) 4.  Appointment of administrator (Clause 259) 5. Company Liquidators and their appointments (Clause 275) 6. Provision for professional assistance to Company Liquidator (Clause ...

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Posted Under: Company Law |

Reimbursement of Expenditure & Service Tax

Sercon India (P) Ltd. is engaged in providing consulting engineer services and receives payments not only for its service but also for reimbursed expenses incurred by it such as air travel, hotel stay, etc. It was paying service tax in respect of amounts received by it for services rendered to its clients. It was not paying any service ta...

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Posted Under: Company Law |

Dollar Hunger Eating Rupee Valuation

Nowadays the dollar and rupee have become the synonyms for Strength and Weakness respectively. The dollar rich countries are able to survive and the others are proceeding towards the dead end of economic crisis....

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Posted Under: Company Law |

New Company Law on the Anvil

Dr. Sanjiv Agarwal India Inc will soon usher into a new era of more liberal, growth oriented and competitive regulatory frame work. Presently corporate entities are governed by a nearly six decade old enactment – Companies Act, 1956 which will get replaced by the Companies Act, 2013 which has been last week passed by Rajya […...

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Posted Under: Company Law |

DTC Bill – Why Nothing Occurred on 22, AUG 2013?

The initiation of enactment of the DTC Bill was, if one remembers right,lately announced to be slated to be made on 22nd August (?). For what one knows, there has been no news on any related development so far....

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Posted Under: Company Law |

TDS on Real estate Industry – Pain or Gain

Vide Finance Act 2013; concept of TDS on Real estate transactions was introduced in India. As per Newly inserted section 194IA, Any person, who purchases any immovable property (other than agricultural land) for a consideration, shall require to deduct tax at source @1% of the amount paid to resident seller; provided the consideration is ...

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Posted Under: Company Law |