These rules may be called the Companies (Declaration and Payment of Dividend) (Amendment) Rules, 2015. (2) They shall come into force on the date of their publication in the Official Gazette.
Any further information or documents called for, in respect of application or e-form or document, filed electronically with the Ministry of Corporate Affairs shall be furnished in Form No. GNL-4 as an addendum
Briefly stated facts of the case are that the assessee, an individual derives income from manufacture of wire & wire ropes. The return was filed declaring total income at ` 4,07,734/-. However, the assessment was completed at an income of ` 5,08,730/- vide order dated 25.06.2007 passed u/s 143(3) of the Act.
It is settled principle of law apparent is real onus is on the person who alleges that apparent is not real. Once the assessee has submitted the evidence by way of bank account of JPC supporting his contention that the assessee has taken loan for the payment of labour payment incurred by it.
In this case merely on the basis of statement recorded during the search where Smt. Meena Garg i.e the assessee has said that she was not running any business concern in the name of M/s Punjab Timber Trading Co (Proprietorship Concern of the Assessee) Assessing officer has added the Income of the Assessee to Income of Punjab Plywood Industries in which male members of the family were partners.
The Ministry of Corporate Affairs vide Notification dated February 16, 2015 has issued the Companies (Indian Accounting Standards) Rules, 2015, thereby notifying Roadmap for applicability of Indian Accounting Standards (Ind AS) for compliance by the class of companies specified in the said Rules. Following companies shall comply with the Ind AS for the accounting periods […]
The only issue before Hon’ble Court is that whether assessee can claim deduction on account to remuneration paid to partners when certified copy of instrument of change of partnership deed is not filed along with the return.
14th Finance Commission (FFC) Report Tabled in Parliament; FFC Recommends by Majority Decision that the States’ Share in the Net Proceeds of the Union Tax Revenues be Raised to 42% Which is a Huge Jump from the 32% Recommended by the 13th Finance Commission Article 280 of the Constitution of India requires the Constitution of […]
The details of companies investigated by the Ministry during the last three years and current year (till date) are enclosed as Annexure-I. Chit Funds are registered by State Governments under the Chit Funds Act, 1982 – an Act administered by the Ministry of Finance but with responsibilities of implementation resting with the States. Cheating by […]
In order to smoothen the functioning of SC/RC companies, it has been decided that, henceforth only the following changes in the share holding pattern of the SC/RC will require Reserve Bank’s prior approval: any transfer of shares by which the transferee becomes a sponsor. any transfer of shares by which the transferor ceases to be a sponsor.
