"11 March 2015" Archive

Extract of Section 100 of Companies Act, 2013

Section 100 – Calling of extraordinary general meeting (1) The Board may, whenever it deems fit, call an extraordinary general meeting of the company. (2) The Board shall, at the requisition made by,— (a) in the case of a company having a share capital, such number of members who hold, on the date of the […]...

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Posted Under: Company Law |

Extract of Section 96 of Companies Act, 2013

Section 96. Annual general meeting (1) Every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it, and not more than fifteen months shall elapse between the […]...

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Posted Under: Company Law |

Section 11AC- Extension by way of omission in 'Relevant Date'

The relevant date for the purpose of computing the time limit for issuing show cause notice is specified in the Explanation no. 1 for different situations. The clause (i) of the Explanation states that in case where no excise return has been filed by the assessee, the relevant date would be the last date on which such return has been fil...

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Posted Under: Company Law |

CBI to recruit Superintendent of Police out of CBEC officers

F.No. A.35017/24/2015-Ad.II (11/03/2015)

As you aware that Central Bureau of Investigation is a predominantly deputationist organization, hence we keep requiring services of officers from different organizations for induction. This would be advantageous for both the organizations. The Bureau would gainfully utilize the expertise and experience of the officers for investigation o...

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Indirect Tax (provisional) collections during April-February, 2015

Indirect Tax Revenue (Provisional) Collections Increase from Rs. 441565 crore in April-February 2014 to Rs. 478630 crore during April-February 2015, thus registering an Increase of 8.4% during April-February 2015 over the corresponding period in the Previous Year....

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Posted Under: Company Law |

Punjab VAT-Rate of tax on iron and steel enhanced to 3.5%

S.O. 9/P.A.8/2005/S.8/2015 (11/03/2015)

Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005, (Punjab Act No. 8 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to make the following ...

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Punjab VAT-Rate of Advance tax on iron and steel enhanced to 3.5%

s. o. 10/P.A.8/2005/S.6/2015 (11/03/2015)

(i) Iron and Steel (including its scrap) 3.5 percent and Iron and Steel goods, specified in clause (iv) of section 14 of the Central Sales Tax Act, 1956, except Wheels, Tyres, Axles, Wheel Sets and Non-Cenvat paid Iron and Steel Scrap....

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Steps needed to be taken to improve indirect tax administration

F.No. 275/17/2015-Central Excise .8A (11/03/2015)

The National Litigation Policy (NLP) formulated by the Government of India aims to reduce Government litigation so that Government ceases to be a compulsive litigant. The purpose underlying this Policy is to ensure that valuable time of the Courts is spent in resolving pending cases and in bringing down the average pending time in the Cou...

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Acquisition/transfer of immovable property – Prohibition on citizens of certain countries

RBI/2014-15/495 A.P.(DIR Series) Circular No.83 (11/03/2015)

RBI/2014-15/495 A.P.(DIR Series) Circular No.83 Dated- March 11, 2015 To All Category – I Authorised Dealer Banks Madam / Sir, Acquisition/transfer of immovable property – Prohibition on citizens of certain countries Attention of Authorised Dealers in Foreign Exchange is invited to Regulation 7 of Foreign Exchange Management (Acquisit...

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Guidelines on Sale of Financial Assets to Securitisation/Reconstruction Company

RBI/2014-15/496 DBR.No.BP.BC.75/21.04.048/2014-15 (11/03/2015)

Guidelines on Sale of Financial Assets to Securitisation Company(SC)/Reconstruction Company (RC) and Related Issues. In this connection, attention is invited to paragraph 28 (extract enclosed) of the Sixth Bi-Monthly Monetary Policy Statement, 2014-15 announced on February 03, 2015. As indicated therein, it has now been decided to permit ...

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