"11 May 2014" Archive

Companies Act 2013- Certification Costs Likely to Increase

Certification of Documents to be filed with MCA needs extra caution by Professionals which may effect of increase in Certification costs. ...

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Posted Under: Company Law |

Companies Act, 2013 : Fraud and Fraud Reporting

Corporate fraud is a major problem that is increasing both in its frequency and severity. Research evidence has shown that growing number of frauds have undermined the integrity of financial reports, contributed to substantial economic losses, and eroded investors’ confidence regarding the usefulness and reliability of financial stateme...

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Posted Under: Company Law |

Judicially Laid Principles on Pre-Deposit of Tax

According to section 35F of Central Excise Act, 1944 which applies to service tax also, a person desirous of appealing against the order shall, pending the appeal, deposit the duty demanded or penalty levied. It may be noted that right to appeal is neither an absolute right nor an ingredient of natural justice....

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Posted Under: Company Law |

Revised SC guideline in Cheque Bounce Cases U/s. Section 138 (NI Act)

Indian Bank Association and Others Vs Union of India (Supreme Court of India)

Notice via email also- MM/JM should adopt a pragmatic and realistic approach while issuing summons. Summons must be properly addressed and sent by post as well as by e-mail address got from the complainant....

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'Aggregated TDS Compliance' at PAN level for all TANs associated with referenced PAN

To facilitate improved TDS administration, CPC(TDS) starts the feature of “Aggregated TDS Compliance” at PAN level for all TANs associated with the referenced PAN. Following are additional details related to the new feature....

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e-forms for Formation/Incorporation of Private Limited Company

CS M. Kurthalanathan Filing of e-forms with ROC for formation/Incorporation of Private Company SN e-form Description Details required Attachment(s) to e-form     1 Form DIR-3 Application for allotment of Director Identification Number  Photograph (latest Passport Size in JPG format) Identity Proof Indian Nationals Foreign Nationals PA...

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Posted Under: Company Law |

FAQs on Section 186 of Companies Act 2013

What types of specified transactions are covered under the Section? Ans. Section 186 covers 3 types of specified transactions entered into by a company directly or indirectly: a) Loans to any person or other body corporate; b) Guarantee or security given in connection with a loan to any other body corporate or person; and c) ...

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Posted Under: Company Law |

Here's Why You Should Demat Your Insurance

Wouldn’t life be much simpler if you could store all your insurance policies in one place electronically and manage it online? Working professionals know how cumbersome it gets at the time of filing income tax returns when one has to search and sift through numerous pages of various insurance policies tucked away “safely” in some [&...

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Posted Under: Company Law |

VAT not leviable on Service Tax portion of Restaurant bill

VAT not leviable on portion which attracts service tax; NO VAT on ST portion of Restaurant bill When Service tax leviable on 40% of the Restaurant bill , VAT not leviable on the portion which attracts service tax: An Analysis of Land mark Judgment of Uttarakhand High Court which addressed crucial issue of double taxation […]...

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Posted Under: Company Law |

Loans, Guarantee & Investment U/s. 185 & 186 of Companies Act, 2013

Manoj Sethia, FCA, ACS, ACMA There has been much confusion about applicability of section 185 and regarding Lending, giving of guarantee, making investment by companies in the light of section 185 and 186 of the Companies Act, 2013. Sub-section (1) of section 185 starts with “Save as otherwise provided in this Act”...

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Posted Under: Company Law |

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