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Archive: 22 October 2014

Posts in 22 October 2014

Celebrating Diwali Differently

October 22, 2014 956 Views 0 comment Print

Dr. Sanjiv Agarwal As we all celebrate the festival of Diwali next week, we see hectic business activities and preparations all around – host of business exhibitions; sale of what not; decked up markets, shops, showrooms, hotels etc; investments in durables, metal, stocks, vehicles, appliances and tons of shopping at personal level. Each one has […]

SEBI : Revision of proprietary position limits of non-bank stock brokers for currency derivatives contracts

October 22, 2014 403 Views 0 comment Print

) take necessary steps to put in place systems for implementation of this circular, including necessary amendments to the relevant bye-laws, rules and regulations;

Payment of related Indian income tax by recipient foreign entity and disallowance for payment made without deduction of TDS

October 22, 2014 1520 Views 0 comment Print

In the present case, we are dealing with a situation in which payment has been made to a non-resident taxpayer but the said non-resident taxpayer has taken into account the receipts in question in his business income and has already filed his income tax return under section 139(1)

Constitution of Review Committee of Commissioners of Central Excise – Reg

October 22, 2014 487 Views 0 comment Print

In exercise of the powers conferred by sub-section (1B) of section 35B of the Central Excise Act, 1944(1 of 1944), the Central Board of Excise and Customs constituted under the Central Board of Revenue Act,1963 (54 of 1963) constitutes the following Committees consisting of two Commissioners of Central Excise mentioned in column (2) of the Table below to be the Committee

Delhi VAT -Filing of online return for 2nd quarter of 2014-15 – extension of due date

October 22, 2014 16164 Views 0 comment Print

I, Sanjeev Khirwar, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of second quarter return for the year 2014-15, in Form DVAT-16 ,DVAT-17 and DVAT-48 along with required annexures/enclosures to 10/11/2014.

Export of Dried Silk Worm Pupae to EU

October 22, 2014 676 Views 0 comment Print

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992), as amended, read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Chapter 5 of Schedule 2 (Export Policy) of ITC(HS) Classification of Export & Import Items.

Reporting on Internal Financial Control deferred for one year i.e., up to 01.04.2015

October 22, 2014 3786 Views 0 comment Print

Ministry of Corporate Affairs has amended Rules for Chapter 10 (Audit and Auditors) of the Companies Act, 2013 and Reporting on Internal Financial Control u/s 143 (3) (i) of the Companies Act, 2013 has been deferred for one year i.e., up to 31.03.2015. The auditor shall report on the existence of adequate internal financial control and its operational effectiveness for the financial years on or after 01.04.2015.The auditor may voluntarily report for the year from 01.04.2014 to 31.03.2015.

ICAI invite suggestions on ITRs & other Income Tax forms

October 22, 2014 1933 Views 0 comment Print

ICAI invites suggestions on Income-tax Returns (ITRs) and other forms notified under Income-tax Rules, 1962. – (21-10-2014) The Direct Taxes Committee of the ICAI is in the process of compiling suggestions on Income tax Return forms (ITRs) and other forms to be made applicable for Assessment year 2015-16. With regard to the same, suggestions are […]

CPC enables Online TDS Statement Correction functionality

October 22, 2014 2986 Views 0 comment Print

The Online Correction functionality is now enabled for TDS Statements prior to FY 2012-13 also (Financial Year 2007-08 onwards), provided at least one correction for the relevant statement has been processed by CPC (TDS). Download Tutorial on above from the following link :-

Very few takers for One Person Company (OPC)

October 22, 2014 1252 Views 0 comment Print

Data provided by the Ministry of Corporate Affairs revealed that only few takers for One Person Company(OPC), which is introduced as a new business ownership concept by virtue of the Companies Act, 2013. The statistics on number of entities such as public companies, private companies, OPC and LLPs registered from 1st April, 2014 to 26th […]

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October 2014