The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 were enacted by the Government to be exclusively used for the recovery of debts of Banks and Financial Institutions.
Whether the deposit by the assessee of the employee’s contribution to the Employees Provident Fund (EPF) or to the Employees State Insurance Corporation (ESIC), i.e., as an employer, after the respective due dates, i.e., under the respective Acts, where-under both the employee and the employer are obliged to contribute a sum, reckoned as a percentage of an employee’s salary,
Procedure for Issue of Preference share is given under Section-62 of Companies Act, 2013. Issue of share can be in three modes: 1. Right Issue of Shares [Section- 62(1) (a)] 2. Preferential Allotment of Shares. [Section- 62(3) (c) and Section-42] 3. Private Placement of Shares. [Section-42)
The assessee was given a sum of Rs.25 lakh by Ustad Zakir Hussain (an eminent Tabla Artist) in pursuance of a general Power of Attorney dated 01st March, 2002, for the purpose of making investment with HSBC Bank, portfolio management scheme on his behalf.
FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainable Growth of the Electronics, IT and ITeS Industries and Enhancing India’s Role in Internet Governance
A certificate from the Statutory Auditor of the customer that all guidelines have been adhered to while utilizing this facility; and A certificate of import/export turnover of the customer during the past three years duly certified by their Statutory Auditor in the format given in Appendix K.
The issue is no longer res integra as it has been decided by Hon’ble ITAT Banglore in case of M/s Yahoo Software Development India Pvt Ltd vs DCIT (ITA No. 1129/Bang/2010) pronounced on 31st December 2014. In the instant case, the Assessee filed an appeal against the order of the Learned AO and pleaded that
As per FDI Regulations read with FEMA, share must be allotted against share application money received from non-resident within 180 days of its receipt. Whereas, as per section 42(6) of Companies Act, 2013, if Company has received any amount received for the purpose of allotment of shares on Private placement basis then shares must be allotted within 60 days of receiving share application money for the same otherwise Company shall refund the whole money within 15 days.
Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012, section 143(1D) was introduced in income tax act which prohibited processing of income tax returns in case notice u/s 143(2) has been issued (i.e. scrutiny cases). Ambiguity arose as to whether the said sub-section applies to those cases as well wherein refunds have been applied in the returns, however the same has been issued notice for scrutiny assessment.
Epson India Pvt. Ltd.(the Assessee) imported Inkjet printer with printer software and ink cartridges (impugned goods) under a single Bill of Entry No. 618553 dated April 21, 2004 by classifying them under separate chapter headings and claimed concessional rate of duty
