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Archive: 11 March 2015

Posts in 11 March 2015

Extract of Section 100 of Companies Act, 2013

March 11, 2015 20637 Views 0 comment Print

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 […]

Extract of Section 96 of Companies Act, 2013

March 11, 2015 26660 Views 0 comment Print

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 […]

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

March 11, 2015 1199 Views 0 comment Print

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 filed.

CBI to recruit Superintendent of Police out of CBEC officers

March 11, 2015 1729 Views 0 comment Print

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 of complex cases and after their repatriation the experience gained by them in CBI would benefit the parent organizations.

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

March 11, 2015 1613 Views 0 comment Print

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.

Godown Rent cannot be treated as business Income as it’s not a continuous activity from year to year

March 11, 2015 19074 Views 2 comments Print

High Court held that Business is a continuous activity which is done year to year. Here, in this case the Assessee let out his godown and shown income as Income from Business instead of Income from property to which the High court do not agree

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

March 11, 2015 19511 Views 0 comment Print

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

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

March 11, 2015 1841 Views 0 comment Print

(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.

Steps needed to be taken to improve indirect tax administration

March 11, 2015 1519 Views 0 comment Print

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 Courts. To achieve this, the Government should become an ‘efficient’ and ‘responsible’ litigant.

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

March 11, 2015 360 Views 0 comment Print

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 (Acquisition and Transfer of immovable property in India) […]

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March 2015