"January, 2015" Archive - Page 4

Govt. accepts Order of Bombay HC in Vodafone case

Instruction No. 2/2015 (29/01/2015)

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, in a major decision, has decided to accept the order of the High Court of Bombay in the case of Vodafone India Services Private Limited (VISPL) dated 10.10.2014. This is a major correction of a tax matter which has adversely affected investor sentiment....

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Section 186 (Applicable to both Public & Private Company)

INVESTMENT IN SUBSIDIARY [Section 186(1)] A Company can make investment through not more than two layers of investment companies, Without prejudice to the provisions contained in the Act, unless otherwise prescribed, below mention two exceptions of this: ...

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Posted Under: Income Tax |

Commonly used Tax Glossary

To understand the subject of taxation very first of all we all have to understood the basic concepts relating to taxation just like we have to go through for driving rules before we learn to drive a Car or many times it happens we know the each and every concepts but still we lack somewhere […]...

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Posted Under: Income Tax |

World Bank Effect- (Minimum capital requirement to be vanished)??

As the new government in India launches ‘Make in India’ campaign in September 2014, to promote new businesses in India, on the other side World Bank issues its Doing Business 2015 in October 2014, in which it placed India at 142th place downgraded by 2 ranks as compared to previous year rankings. And may be […]...

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Posted Under: Income Tax |

Indian subsidiaries of foreign companies can claim SFIS benefit

Yum Restaurants (I) Pvt. Ltd Vs Union of India (Delhi High Court)

Recently, in case of YUM RESTAURANTS (I) PVT.LTD AND Anr. v. Union of India & Ors, Hon'ble Delhi High Court pronounced that there is no provision in the Foreign Trade Policy which debars an Indian subsidiary of a foreign holding company from availing the benefit of Serve From India Scheme(SFIS)....

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Problems in online IEC application & Solution

While applying online for importer exporter code (IEC) some user may encounter a Java Error like the one given below – ERROR WHILE SENDING OUTPUT access denied (“java.net.SocketPermission” “164.100.128.143:8100″ “connect,resolve”) In this article we have discussed the solution and steps to remove above error. 1. Download...

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Posted Under: Income Tax |

Simple Yet Significant Exams Tips- Part 1

I qualified my company secretary examination last year, and luckily was the first one to clear among my peers with whom I started the course. By God’s grace I succeeded in clearing all of my levels at the first attempt and so am called a company secretary comparatively soon. I completed my CS with Graduation i.e. b.com which proved to b...

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Posted Under: Income Tax |

Notification No. 14/2015-Customs (N.T.) Dated: 28/01/2015

Notification No. 14/2015-Customs (N.T.) (28/01/2015)

In exercise of the powers conferred by clause (a) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the following further amendments in the Notification of the Govt...

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Regarding extension of time to repay deposits by Companies

Order No. F.No. 10/36/2001-CLB (28/01/2015)

F. No. 10/36/2001-CLB Dated 28th January, 2015 Before submitting an application under sub- section (2) of section 74 of the Companies Act. 2013, the company shall publish a general notice in two leading English daily newspapers and in a newspaper published in the language of the region having wide circulation in the region in which the Re...

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