Minutes of the meeting with MCA held on 3rd April 2014 A delegation of the following council members, Secretary of the Institute and four representatives of other member company secretaries had a very detailed deliberation at 3 p.m. on 3rd April 2014 with Mr. M. J. Joseph, Additional Secretary and Ms. Renuka Kumar, Joint Secretary […]
With a view to further liberalising the existing facilities, it has now been decided to allow all resident individuals, firms and companies, who have actual or anticipated foreign exchange exposures to book foreign exchange forward contracts up to US$ 250,000 on the basis of a simple declaration without any requirement of further documentation.
Kaushal Agrawal As soon as you read the title the first thought which will come in mind. Is it possible? Yes it is possible and I have tried it. Awaiting your valuable comments. You will find following topics 1. Types of Heads 2. Sections associated with each heads of Income.
As per news report, out of 190 recommendations made by Committee, the Finance Minister accepted 153 either wholly or with partial modification. The new tax code is meant to create an efficient direct tax system by replacing the archaic Income Tax Act.
CA Himanshu Sharma Introduction – By Introduction of Companies Act,2013, Ministry of company affair has brought massive changes i.e. maximum of exemptions which were available to private companies under companies act,1956 have been withdrawn, lot of changes in acceptance of deposit rules through which private companies were not allowed to accept loan from relative and […]
The Gujrat HC in CIT v Siddhartha J. Desai 139 ITR 628 (Guj) (1983) has laid down the following tests for determining whether the land is agricultural or not: a) Whether, the land was classified in the revenue records as agricultural and whether it was subject to payment of land revenue? [ CIT vs. Smt. […]
A transaction of purchase and sale of land cannot be assumed,without more, to be a venture in the nature of a trade. [CIT vs. Jawahar Development Association 127 ITR 431 (MP)(1 981)] The activity of an assessee in dividing the land in to plots andnot selling it as a single unit as he purchased, goes […]
As per Companies Act 2013 all Indian Companies shall comply with Corporate Social Responsibility requirements w.e.f 01.04.2014. All companies havinga net worth of Rs. five hundred Crore or more, or turnover of Rs. one thousand crore or more or a net profit of rupees five crore or more during a financial yearshall constitute a Corporate Social Responsibility (CSR)
The Designated Court at Kolkata has remanded three days police custody to A M Sahay, Commissioner of Central Excise, Kolkata-II Commissionarate and two private persons in a bribery case yesterday. In this case, the CBI has arrested seven accused i.e. three at Kolkata and four at Mumbai. The Competent Court at Mumbai has given two […]
COMMUNICATION Dear Members and Students of the Institute of Company Secretaries of India, I am very happy to inform you that a delegation comprising the following had a very meaningful dialogue with the Hon’ble Minister for Corporate Affairs (Independent Charge), Shri Sachin Pilot in the late night (11 .55PM) of 4th April, 2014 at Kekdi […]
