"02 January 2015" Archive

Dual Use of Non-Processing Area of Sezs by SEZ Entities as Well as DTA Entities Allowed

G.S.R. 5(E) 02/01/2015

In exercise of the powers conferred by Section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely:-...

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Relieve transferred officers – CBDT to Pr. CCITs & DGITs

203 of 2014 13/11/2014

Vide Order No. 203 of 2014 dated 13th November, 2014, it was communicated that all the officers under orders of transfer be relieved with immediate effect, failing which the officers were to be deemed as relieved w.e.f 14.11.2014....

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Most TP Audit Report by CAs unreliable with pathetic professional work

Wrigley India Pvt Ltd Vs ACIT (ITAT Delhi)

It seems CAs are under attack from all parts of the world for good or not so good reasons. Recently CAG in its report Criticised CAs for alleged Mistakes in Tax Audit Report and signing of Tax Audit Reports more than the prescribed limit....

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Loan to Directors U/s 185 of Companies Act 2013

Section 185 is applicable to a public company as well as private company. This section applies to loan etc. given by a company directly or indirectly. Indirectly means company can not give loan through the agency of one or more intermediaries. ...

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CPC (TDS) follow up for closing Short Payment Default due to Insufficient Challans

The Short Payment Defaults are generally due to ‘Insufficient Challans’, which could be due to the following reasons: You have adequate balance available in OLTAS challans, however, some other challans may have been incorrectly used, which are already consumed. You have tried to consume more than the available challan amount f...

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CMA President's message on Amended Cost Rules issued by MCA

I am glad to inform you that the Companies (Cost Records and Audit) Amendment Rules, 2014 has been notified by the Central Government. The original Companies (Cost Records and Audit) Rules, 2014 issued on 30th June 2014 have been modified extensively on the basis of representations made by the Institute,...

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