"18 August 2014" Archive

Amendment in the companies (Meetings and Board of powers)rules, 2014 dated August 14, 2014

Amendment in the companies (Meetings and Board of powers) rules vide Notification dated 14.08.2014 by Companies (Meetings of Board and its Powers) Second Amendment Rules, 2014. ...

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Posted Under: Company Law |

8 Reason to deffer New Tax Audit Report To A.Y. 2015-16 – Letter To CBDT

1 AUDIT ALREADY COMPLETED BUT NOT UPLOADED:-. The financial year preceding to the assessment year 2014-15 was ended on 31/03/2014 and audits for this year were started at any time after that date and completed before 25/07/2014 but the audit report are not uploaded on the IT site. Banks, Insurance Companies, PSUs and other assesses are i...

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Posted Under: Company Law |

India is My Country & Paying Other's Taxes is My Duty

Arjuna, all feels proud to be Indian. Growth of the nation is carried out from the taxes collected from the taxpayers. For financial growth of the nation it is necessary to pay taxes. Taxpayer will have to pay his own taxes simultaneously taxpayer is required to pay taxes of the person with whom transactions were incurred....

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Multipurpose Empanelment- List of CA Firms who have to submit Financial Documents

It has been decided to call for Financial Documents from 10% of the applicants for Multipurpose Empanelment, selected on random basis, for the year 2014-15. Based on the random selection done by the computer, the above MEF has been selected as one of those to submit the Financial Documents in connection with the subject empanelment....

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Posted Under: Company Law |

Service Tax – Finance Act, 2014 makes Advertisements Costly

The Finance Bill, 2014 received assent from Hon’ble President on 6th of August 2014. The main impact of this budget leads to make the advertisements costly. As per Section 66D(g) selling of space for advertisements in print media is only falls under Negative List. The definition of “print media”as per Section 65B(39a) states as foll...

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Posted Under: Company Law |

9 Steps for climbing a startup Ladder

1. Creating a Business Plan: Before starting any business there should be a perfect business plan there. A business plan should have, along with others, the following thing: a. Cover Page Cover page should define objective, Mission and Vision of the Business. b. Table of Contents. There should be a table of content for easy reference of...

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Posted Under: Company Law |

Section 188 Related Party Transaction after Rules Dated 14.08.2014

CS Divesh Goyal Applicability: This is applicable for Private Company and Public Company. Approval:the Transaction of a company with Related Parties which are Not in the Ordinary Course of Business and which is Not on Arm Length Price require following approval for Entering into Such Transactions with Related Party:- 1- Board Approval F...

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Posted Under: Company Law |

Lease Rent Not Liable to Service Tax if Vat Is Charged

A. PERCEPTIVE OF TERMING IT AS SALE Article 366(29A)(c) of Constitution: Such delivery of goods on hire purchase or any system of payment on installment shall be deemed as “Sale of Goods” 2. Power to levy tax on sales is vested to State Governments under Entry 54 of List II and thus VAT has been […]...

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Posted Under: Company Law |