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1. PROCEDURE FOR ALLOTMENT OF RIGHT ISSUE OF SHARES: ♣ Call a Board meeting by issue notice of meeting. (Draft Format Attached) ♣ Approve right issue including “letter of offer”, which shall include right of renunciation also.(At Board Meeting). (Draft Format Attached) ♣ Send offer letter to all existing members as on the date of offer.(Through registered post or speed post or through electronic mode to all the existing share -holders at least three days before the opening of the issue.)
The existing Form No. 3CA, Form No. 3CB and Form No. 3CD have been substituted vide notification no. 33/2014 dated 25.07.2014 with immediate effect. Taxpayers and CAs are advised to await the release of the new schema and utility to submit in the newly notified aforementioned Forms. Taxpayers and CAs are advised that any upload […]
CA Sandeep Kanoi CBDT has vide notification no. 33/2014 dated 25.07.2014 revised the format of Tax Audit Report to be furnished under section 44AB of the Income tax Act with effect from 25.07.2014. We have compiled below the key amendments made to the old Form 3CD:- 1. Particulars of registration under excise duty, service tax, […]
The Revenue officers must realize that just like other powers a executive power conferred in them is in the nature of a Trust. They hold office as trustees of the public at large. They deal with public revenue and public money and that cannot be wasted in such frivolous litigation. We, therefore, dismiss these appeals with costs quantified at Rs.1,00,000/ each.
CBDT has revised in the mid of tax season format of Tax Audit Report to be submitted in Form 3CD vide its Notification No. 33/2014, Dated: July 25, 2014. The revised report has added some new clauses to increase disclosure requirement and as well amended few clauses to further increase/improve disclosure requirements. Revised Tax Audit […]
In my second series in continuation to my previous article ‘Costing Methods/Cost Management in Turkey-Series 1′ I would be discussing about one of the researches on one of the world’s most luxury automobile company where adoption of Cost Management and Costing Methods made a stupendous turn around. The story is all about shifting of accounting […]
On careful consideration of above contention, we are of the view that there may be a substantive assessment without any protective assessment but there can not be any protective assessment/addition without a substantive assessment/addition, meaning thereby there has to be some substantive assessment/addition first which enables the AO to make a protective assessment/addition.
