"09 August 2014" Archive

Securities Law (Amendment) Bill, 2014 – Comparison of Key changes made in SEBI Act, 1992

The Amendment Bill 2014 was different in color vis-a-vis the ordinance that was promulgated vide Securities Laws (Amendment) Ordinance, 2014 (hereinafter referred as Ordinance 2014). The changes that bill has bought about can be majorly classified as follows:- i. validating the ordinance issued with effect from the date of the ordinance,...

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Posted Under: SEBI |

Tour Operators: Cry Is Still On, Budget 2014 Partly Wiped Their Tears

The budget 2014 has arrived and the Hon’ble Finance minister has bought in several, if not many, changes in the service tax regime. In his endeavour to put the indirect tax laws in road to GST, he has avoided major changes but for small. However, these small changes have somewhat failed to meet the expectations of few sectors. ...

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Posted Under: SEBI |

Decoding of Deposits under Companies Act, 2013 read with Rules

Deposits and/ or unsecured loans have been proved an essential and major source of financing in the corporate sector since the time of its recognitions. This is an essential tools of the growth of the private sector as well by reasons of least cost as well as controlling, ...

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Posted Under: SEBI | ,

HC prohibits Non advocates from appearing before VAT Authorities

Tax Lawyers Association Lko. Throu General Secy. & Anr. Vs State Of U.P. Thru. Prin. Secy. Tax & Registration U.P. Lko. & Ors (Allahabad High Court)

Allahabad High Court in the case of Tax Lawyers Association Lko. Vs. State Of U.P. as a Interim Measure held that no person whosoever, may be permitted to advertise in the Newspaper or any leaflet, inviting assesses for the purpose of filing of return or arguing before the authority under the VAT Act. Any person, who is not a registered a...

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MCA displays list of companies not filed Form 5INV

MCA has started to display list of Companies who have not filed Form 5INV. Form 5 INV is required to be filed by the company/Corresponding New Bank which shall contain investor wise details of unclaimed and unpaid amounts in respect of dividends, debentures, deposits, etc. The details of unclaimed and unpaid amounts shall need to [&hellip...

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Posted Under: SEBI |

Could Not File Income Tax Return? Don't Worry

Individual assessees were required to file their income tax returns on or before 31st July, 2014. While most of the assessees would have filed the return, yet there may be many who could not file their returns by the due date for any reason – being on vacation, on official tour, for want of preparedness or even as a habit. ...

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Posted Under: SEBI | ,

Schedule-II of Companies Act 2013 Vs AS-6 'Depreciation Accounting'

CA Debasis Sahoo The Depreciation on fixed asset as per Schedule-II of Companies Act, 2013 became operational from 01/04/2014 vide MCA notification no S.O.902(E) dated 26/03/2014. In new era of depreciation, useful life of the asset plays a crucial role for calculation of depreciation. The change in the method of providing depreciation fr...

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Posted Under: SEBI | ,

Accounts related provisions under Companies Act 2013

Books of accounts to be kept by Company ( Section 128 ) -The books of accounts showing true and fair financial statements and relevant papers shall be kept at the registered address of the company. The books shall be kept on accrual basis and according double entry system of accounting. The books of accounts and relevant papers may be kep...

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Posted Under: SEBI |

Pass Percentage & Toppers of CA Final May/June 2014

Pass Percentage of CA Final May/June 2014 Chartered Accountants Final Examination held in May/ June 2014 The result of Chartered Accountants Final Examination held in May/ June 2014 was declared  today. The details of percentage of the candidates passed in the above examinations are given below: Group Candidates Appeared Candidates Pass...

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Posted Under: SEBI |

Provisions for Related Party Transactions

The Circular, inter-alia, clarifies that the term ‘related party’ appearing in the second proviso to section 188(1) of the Companies Act, 2013 refers only to such related parties as may be related party in the context of the contract or arrangement for which the relevant special resolution is being passed....

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Posted Under: SEBI |

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