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Archive: November, 2014

Posts in November, 2014

Compliances For Listed Company Under Companies Act- 2013

November 28, 2014 58654 Views 9 comments Print

Every listed company shall have an internal auditor, who may be a Chartered Accountant, Cost Accountant or any other Professional (i.e. Company Secretary). The scope, functioning, periodicity and methodology for conducting the internal audit shall be decided by Audit Committee in consultation with the internal auditor.

Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification

November 28, 2014 1970 Views 0 comment Print

Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification issued under Section 5A of CEA’1944 although when there is specific bar under Section 5A for SEZ units?

Check Jurisdiction before filing your income Tax Return

November 28, 2014 6638 Views 0 comment Print

Check your Current Jurisdiction before filing your income Tax Return for the  A. Y. 2014-15 & Subsequent years. Due to the current Restructuring in the Income Tax Department, your Jurisdiction may have changed. It is advisable that you check your current jurisdiction. Those who have not yet filed their Income Tax Return and are yet […]

Pursuing law & practicing law are two different things -SC

November 28, 2014 3403 Views 0 comment Print

Pursuing law and practicing law are two different things : Bar Council not bound to grant licence to practice law: SC. The case of the appellant in brief is that after completion of professional course i.e. Licentiate of the Court of Examiners in Homoeopathy medicines (LCEH), she took admission to LL.B. course conducted by University of Mumbai.

Commencement of SEBI (Research Analysts) Regulations, 2014

November 28, 2014 412 Views 0 comment Print

It may also be noted all the information pertaining to RA Regulations issued from time to time will be made available on the website at under the section “Info For” – Research Analysts. Currently guidelines on how to get registered as research analyst and instruction for filling in Form-A are made available under this section.

Change in Limit for Income Tax Advance Ruling

November 28, 2014 5771 Views 0 comment Print

Notification No. 73/2014-Income Tax In exercise of the powers conferred by sub-clause (iia) of clause (b) of section 245N of the Income-tax Act; 1961 (43 of 1961), the Central Government hereby specifies a resident, in relation to his tax liability arising out of one or more transactions valuing rupees one hundred crore or more in total which has been undertaken or proposed

Notification No. 57/2014 , Daetd : 27.11.2014

November 27, 2014 790 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee

RBI issues Guidelines for Licensing of Small Finance Banks in Private Sector

November 27, 2014 1070 Views 0 comment Print

Procedure for application: In terms of Rule 11 of the Banking Regulation (Companies) Rules, 1949, applications shall be submitted in the prescribed form (Form III) to the Chief General Manager, Department of Banking Regulation, Reserve Bank of India, 13th Floor, Central Office Building, Mumbai – 400 001. In addition, the applicants should furnish the business plan and other requisite information as indicated. Applications will be accepted till the close of business as on January 16, 2015. After experience gained in dealing with small finance banks, applications will be received on a continuous basis. However, these guidelines are subject to periodic review and revision.

Reg. Change in form ANF 2A related to Issue / Modification in Importer Exporter Code (IEC)

November 27, 2014 6143 Views 0 comment Print

The existing form ANF 2A, is being replaced by another format, online filing of which along with all requisite documents will be mandatory w.e.f 01.01.2015, and decision regarding grant or refusal of IEC will be conveyed within two working days by the concerned jurisdictional RA. Facility of filing online application for IEC will also be available on the e-biz portal of DIPP, after its integration with DGFT’s system.

Article Absence Schedule and Leave calculator

November 27, 2014 4998 Views 0 comment Print

The attached file will help to track leaves year wise. To help yourself you can copy this excel sheet and rename it year wise to maintain the leave record for the whole period of articleship. Start with that month sheet when you have joined articleship. Enter the year i.e 2013, 2014 etc in the January […]

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