"29 December 2014" Archive

Anomaly in Definition of Free Reserves under Companies Act, 2013

Aditya Shah Anomaly in Definition of Free Reserves under Companies Act, 2013 makes Companies Re-think about leaving credit in Profit & Loss A/c Companies which have excess of Profit after appropriation for statutory reserves and dividend do have tendency to retain it as Surplus of the company, rather than transferring it to any Reserv...

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Posted Under: Company Law |

List of forms under Companies Act, 2013

The provisions of Companies Act, 2013 (Act) require a large number of filings by the 1. Companies with the Registrar of Companies /Central Government 2. Directors / Auditors / Key Managerial Personnel with the concerned company(ies) / Registrar of Companies....

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Posted Under: Company Law |

Disallowance of Advertisement expense merely because same were exorbitant

CIT Vs Discovery Communication India (Delhi High Court)

Advertisement expenditure was incurred in terms of the license agreement granting the distribution rights to the assessee by the associated enterprise, Discovery Asia Inc. Under this agreement, the respondent­ assessee had procured right to distribute the signals of Discovery ...

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Revision in rates of Basic Customs Duty on goods imported from ASEAN countries

Notification No. 38/2014-Customs 29/12/2014

The Central Government vide Notification No. 38/2014–Customs (Tariff) dated December 29, 2014 has amended Notification No. 46/2011-Customs (Tariff) dated June 1, 2011 and has revised the rate of Basic Customs Duty on the specified goods imported from Association of South East Asian Nations (ASEAN) in terms of the Free Trade Agreement be...

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Revision in rates of Basic Customs Duty on goods imported from Malaysia

Notification No. 37/2014-Customs 29/12/2014

The Central Government vide Notification No. 37/2014–Customs (Tariff) dated December 29, 2014 has amended Notification No. 53/2011-Customs (Tariff) dated July 1, 2011 and has revised the rates of Basic Customs Duty on Malaysia origin specified goods imported from Malaysia in terms of the India-Malaysia Comprehensive Economic Cooperation...

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Revision in rates of Basic Customs duty on goods imported from Japan

Notification No. 36/2014-Customs 29/12/2014

The Central Government vide Notification No. 36/2014–Customs (Tariff) dated December 29, 2014 has amended Notification No. 69/2011-Customs (Tariff) dated July 29, 2011 which had been issued in respect of specified goods imported from Japan and has revised the rate of Basic Customs duty on the following two tariff items of the First Sche...

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Tariff concessions in respect of specified goods imported from Korea RP

Notification No. 35/2014-Customs 29/12/2014

Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to provide deeper tariff concessions in respect of specified goods imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement w.e.f. 01.01.2015. Notification No. 35/2014 - Customs New Delhi, dated the 29th December, 2014...

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PK’s view on Indian Tax system. Enjoy it!

Krishna, Aamir Khan’s recently released movie, PK, is in Limelight. Tell me, if this character 'PK' participates in a T.V. talk show on the topic of Taxation, what fun it will create? In this way we can spread awareness of taxation among people for following tax laws....

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8 benefits FM must consider for differently abled persons

The constitution of India has granted equal rights to every citizen of India. To provide a level playing field and to compensate for additional expenditure incurred by differently abled person and their family members certain benefits in form of additional deduction/tax concessions are granted. ...

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Major Initiatives and Achievements of Ministry of Finance

Major Policy Initiatives, Programmes/Schemes Announced and Achievements Made with Regard to the Ministry of Finance in Last Seven Months Actions to curb Black Money First major decision taken by the present Government after taking over reins of power in May, 2014 was to constitute a Special Investigating Team (SIT) to implement the decisi...

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Posted Under: Company Law |

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