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Archive: July, 2014

Posts in July, 2014

Modi Looking to use Facebook to bring more tourists to India

July 3, 2014 1725 Views 0 comment Print

Facebook COO Sheryl Sandberg calls on PM The Chief Operating Officer of Facebook, Ms. Sheryl Sandberg, called on the Prime Minister, Shri Narendra Modi, today. She said India is a very important country for Facebook, considering the high number of active Facebook users in India. The Prime Minister discussed with Ms. Sandberg, ways through which […]

Rate of exchange of conversion of each of foreign currency WEF 04.07.2014

July 3, 2014 3337 Views 0 comment Print

the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column

NSDL releases new Form 24G Return Preparation Utility and FVU Version 1.3

July 3, 2014 3025 Views 0 comment Print

Form 24G Return Preparation Utility (RPU) and File Validation Utility (FVU) Version 1.3 for the Form 24G Statements from FY 2005-06 onwards released (27/06/2014) Link to Download New RPU and FUV https://www.tin-nsdl.com/etds-etcs/eTDS-download-regular.php

DGFT Prohibits import of ‘foie gras’

July 3, 2014 6259 Views 0 comment Print

In exercise of powers conferred by Section 3(2) and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), read with paragraphs 2.1 and Para 2.6 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby makes the following amendments in the ITC (HS) 2012, Schedule 1 (Import Policy).

Companies Act 2013- Meetings Of The Board & Committees

July 2, 2014 484907 Views 32 comments Print

ACS Divesh Goyal MEETINGS OF THE BOARD 1.   Frequency of Meeting: –         First Meeting:First Meeting of Board of Directors within 30 (Thirty) days from the date of Incorporation of company. – –  Subsequent Meetings: One person Company, Small company and Dormant company: At least one meeting of Board of directors in each half of calendar […]

Deductor to be deemed as assesee in deafult only in respect of actual tax liability of Non-Resident

July 2, 2014 3034 Views 0 comment Print

CBDT in its Instruction No. 2/2014 [F No. 500/33/2013-FTD-l], Dated 26-02-2014 issued in view of the judicial develpments in the cases of GE India Technology P Ltd. vs CIT [2010] 7 taxmann.com and Transmission corporation of AP Ltd v. CIT [1999] 105 Taxmann 742 decided by Supreme Court, has stated that a person who fails […]

CMA President's Communique for July 2014

July 2, 2014 2229 Views 0 comment Print

Do not spoil what you have by desiring what you have not; remember that what you now have was once among the things you only hoped for. –Epicurus A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing.  –George Bernard Shaw My Dear Professional Colleagues, It is […]

Frequently Asked Questions On Companies Act, 2013

July 2, 2014 148699 Views 16 comments Print

1. Section 2(49) defines the term ‘interested directors’ whereas at various sections reference to section 184 is drawn to mean/define interested director. Section 2(49) is wider than Section 184 leading to confusion – which definition should be applied? Ans. Section 2(49) of the Companies Act, 2013 defines interested director as a director who is in […]

New Government, new hopes: Excise & Service tax law needs to be MODIfied

July 2, 2014 3168 Views 0 comment Print

Whole country witnessed historic win of BJP lead NDA in recently concluded general elections. New government in the leadership of Mr. Narendra Modi is all set to prove its mettle of governance. With oath taking ceremony on 26.05.2014 and announcement of cabinet ministries, now Citizens of India have huge expectation on this newly formed Government to fulfill its promises which they made in various election campaigns.

UP VAT- CS, CMA included in definition of Accountant

July 2, 2014 5389 Views 0 comment Print

The Uttar Pradesh (UP) Government vide Section 21 of The Uttar Pradesh Value Added Tax Act 2008 and Rule 42 thereof has already recognized Cost Accountants  for the purpose of Auditing of Books of every taxable dealers under the Act. Now The UP  Government has issued an amendment to Rules vide Government Notification no. Ka.Ni.-2-684/XI-9(295)/07-U.P.VATRULES-08-order-(114)-2014, […]

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