"22 August 2014" Archive

Procedure for Appointment Of Directors – Companies Act, 2013

Directors of a company hold the most crucial position in the Company. With the new Companies Act, 2013 already in force, their position has become even more significant than ever before. They are now formally included within the definition of key managerial personnel or “KMP” under Section 2(51) of the New Act....

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Procedure for Removal of Director Under Companies Act- 2013

Shareholders can remove any director before the expiry of his tenure, except any director appointed by Tribunal for prevention of oppression and mismanagement u/s 242 and a director appointed under principle of proportional representation u/s 163....

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Posted Under: Company Law |

Procedure for Resignation of Director of Company & Compliance

DIRECTORS RESIGNATION UNDER COMPANIES ACT, 2013:-. 1. The Director intending to resign shall send notice in writing to the Company. The resignation of a director shall take effect from: The date on which the Notice Is Received by the company or The Date, If Any, Specified by The Director in the notice, whichever is later. ...

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CBDT directs officials to Respect Taxpayer’s Time And not to Make Them Wait

Office Memorandum- F.No.Dir(Hqrs.) / Ch. (DT) /29/2013 22/08/2014

It has been brought to the notice of the Board that some of the officers are issuing notices to the taxpayers/witnesses/representatives etc. indicating a standard time of appointment. Thus, many persons called for hearing etc. on a day by an officer are given the same time for appearance. Naturally the persons are made to wait for their t...

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Tax Audit Report – New Formats Should Be Deferred, Extension Is Not A Solution

CA Sudhir Halakhandi The date of obtaining and furnishing of tax audit report u/s 44AB has been extended from 30th Sept. 2014 to 30th Nov. 2014 and while issuing the orders under section 119 the Central Board of Direct Taxes has created one more confusion which is related to the extension of date of ITR....

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Posted Under: Company Law |

Govt instruct its staff to use paper judiciously – Is it Austerity Measures or Eco-friendly measures?

No 25(6)/E.Coord-2014 22/08/2014

Policy instructions/guidelines issued through Orders, OMs, etc. may be uploaded on the official website of the Ministry/Department/Organization. Number of hard copies of such communications may be limited to the required minimum....

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SC judge, ex-Sebi chief criticised Companies Act, 2013

Sitting SC judge Justice Arjan Kumar Sikri slams parliament over poor drafting of Companies Act, 2013 and warned that it may lead to Tsunami of Litigations. He Says that : Companies Act, 2013 been drafted in haste. There appears to be no thinking behind drafting of Cos Act Legislative authority of parliament has been delegated […]...

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Posted Under: Company Law |

E-Flash on Amendment made by Finance Act (No. 2), 2014

Direct Taxes have remained unfazed with a recalibration of tax slabs and increase in deduction and allowing higher amounts of investments. Indirect Taxes side also has seen some important changes. Advance rulings have been made available for resident private limited companies. Basic rate of excise remains same with minor changes in rates ...

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Posted Under: Company Law |

Toppers & Pass Percentage of CA IPC May / June 2014

The Institute of Chartered Accountants of India (ICAI) today announced the result of Chartered Accountants Intermediate (IPC) Examination held in May / June 2014. Announcing the result, CA.K.Raghu, President ICAI said, “I convey my heartiest congratulations to the top 3 rank holders and all other students who have  been able to cl...

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Posted Under: Company Law |

Auto Income Tax calculator for F.Y. 2014-15 / A.Y. 2015-16

Download Auto Income Tax calculator for Financial Year 2014-15 / Assessment Year 2015-16 to automatically calculate your taxable income and tax on it. It all provides provide brief detail of all the information and rules for the Taxation,exemption,deduction, Section and Rules and Calculate your Tax in less than 5 Minutes. ...

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