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Archive: August, 2014

Posts in August, 2014

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7203 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Resolutions to be passed to reduce filing fees of MGT14

August 31, 2014 6407 Views 0 comment Print

RESOLUTIONS TO BE PASSED TO REDUCE FILLING FEES OF MGT14 of small & medium size companies, if draft exemption is not passed in parliament 1) First board meetings of small & medium size companies should pass resolutions in respect of following (at least), to reduce  cost of filling Form MGT14: i) Pass resolution for disclosure of interest, ii) Approval of financial […]

Interest paid on late payment of services tax dues and TDS is allowable

August 30, 2014 46935 Views 1 comment Print

DCIT Vs Narayani Ispat (P) Ltd. (ITAT Kolkata) Interest was paid for delayed payment of service tax & TDS. The interest for the delay in making the payment of service tax & TDS is compensatory in nature. As such the interest on delayed payment is not in the nature of penalty in the instant case […]

Start-Up’s Beware of Vodafone!

August 30, 2014 3304 Views 0 comment Print

CA Paras Mehra Mr Ashish Ranjan, developer, started his business in Hong Kong. Since he was good at marketing, his business soon started generating profits. Ashish, through his Hong Kong Company expands his business in India and incorporates a company which is fully controlled by Hong Kong Company. Ashish, because his business was doing well, […]

Deduction U/s 80IC can be claimed, despite no chemical change in composition of the raw material during manufacturing process

August 30, 2014 7184 Views 0 comment Print

assessee had set up a unit at Baddi in Himachal Pradesh for packaging of Horlics, Boost for Glaxo Smithkline Consumer Healthcare Ltd. The assessee filed its return of income claiming deduction u/s 80IC of Rs. 6,59,69,287/- @ 100% on the profits of the eligible business alleging

ICAI extends time period to complete ITT and Orientation Course

August 30, 2014 765 Views 1 comment Print

It has been brought to the notice of the Council that some students registered under Direct Entry Scheme between 01.08.2012 and 31.01.2013 for the Intermediate (Integrated Professional Competence) Course could not comply with regulatory requirements relating to Information Technology Training (ITT) and Orientation Course(OP).

Tax Audit Report due date – Things to keep in mind

August 29, 2014 4124 Views 0 comment Print

टैक्स ऑडिट की अंतिम तिथी 30/11/2014 कर दी गई है लेकिन आयकर रिटर्न की अंतिम तिथी अभी भी 30/09/2014 ही है एवं यह एक दुर्भाग्यपूर्ण स्तिथी है . दिनांक 25/07/2014 से 20/08/2014 के मध्य लगातार 25 दिन आयकर साईट पर सुविधा उपलब्ध नहीं होने के कारण एक भी रिटर्न पेश नहीं किया जा सका , […]

Extension by CBDT of TAR – Are you satisfied with it?

August 29, 2014 2679 Views 0 comment Print

C.P. Chugh Dear All True but of no use. What we got is a big BABA JI KA TULLU (in the words of Kapil Sharma, standup comedian) CBDT circulars/notifications are often over riding the basic of law.  Law makers have thoughtfully provided sufficient time to furnish return, obtain and furnish TAR and keeping in mind […]

Intimation to ROC for Auditor appointment in Form ADT

August 29, 2014 74779 Views 20 comments Print

As we all are aware that there is a provision in Company Law for intimation to Registrar of Companies regarding appointment of statutory auditor in the Annual General Meeting by shareholders. This intimation is an annual intimation and it was also there in erstwhile Companies Act, 1956 and continued in Companies Act, 2013.

Procedure for Increase in Authorise Capital under Companies Act, 2013

August 29, 2014 354861 Views 27 comments Print

As per my understanding procedure for Increase in Authorize share Capital is one of the most frequently searched topics by professionals. An attempt has been made from my side to unlock the provisions of Companies Act, 2013 related to Increase in Authorize share Capital along with requisite secretarial practice w.r.t. to sample Board and Shareholders’ resolutions.

Notification No. 73/14-Customs (N.T.) Dated: 29/08/2014

August 29, 2014 442 Views 0 comment Print

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the

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