"19 March 2015" Archive

ICAI Extends Membership Restoration Amnesty to 30-04-2015

ANNOUNCEMENT EXTENSION OF GENERAL AMNESTY SCHEME FOR RETROSPECTIVE RESTORATION OF MEMBERSHIP (ONE TIME DISPENSATION) DATE: 19.03.2015 With a view to mitigate the hardships being faced by members whose names stand removed as on date due to non-payment of membership fee, the Council has decided to give an opportunity by way of General Amnes...

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Posted Under: CA, CS, CMA |

Voting though electronic means -MCA notifies revised Rules

Notification No. G.S.R. (E) (19/03/2015)

20. Voting though electronic means.- (1) The provisions of this rule shall apply in respect of the general meetings for which notices are issued on or after the date of commencement of this rule. (2) Every company other than a company referred to in Chapter XB or Chapter XC of the Securities and Exchange Board of India (Issue of Capital ...

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CBDT soft launches 'National Judicial Reference System' (NJRS)

F.No.DIT (L&R)-II/NJRS/XV/2014 15/439 (19/03/2015)

In its endeavor to improve litigation management related to Direct tax cases in various courts, the Department has taken up a project titled "National Judicial Reference System" (NJRS). The NJRS project is being undertaken by the Directorate General of Income Tax (Legal & Research), Income Tax Department....

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State VAT & CST on E-Commerce Transactions

A significant number of web sites, such as, Amazon.in, Flipkart.com, Snapdeal.com, eBay.in, etc., are engaged in E-Commerce (E-Com., in short) activities in India. The two major forms of E-Commerce are Business-to-Consumer (B2C) and Business-to-Business (B2B). While most of the companies cater mainly to consumers, the other companies migh...

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Posted Under: CA, CS, CMA |

Last Minute Tax Saving Investments

With the end of the financial year looming ahead, it is time to assess your tax liability, and consider tax-saving investment options to reduce your tax liability to the maximum extent possible. While tax planning should not be a last-minute exercise, minimizing tax payable on unexpected incomes or profits can be easily done before the [&...

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Posted Under: CA, CS, CMA |

Why Should You Buy Health Insurance?

Good health and its maintenance has increasingly become a topic of interest for us all. We constantly endeavor to discover new ways to live healthier lives and have begun to naturally adopt optimal work-life balances, customized dietary & exercise regimes and even health-centric recreational initiatives. Our focus towards a positive h...

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Posted Under: CA, CS, CMA |

Extract of Section 185 of Companies Act, 2013

185. Loan to directors, etc (1) Save as otherwise provided in this Act, no company shall, directly or indirectly, advance any loan, including any loan represented by a book debt, to any of its directors or to any other person in whom the director is interested or give any guarantee or provide any security in […]...

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Posted Under: CA, CS, CMA |

An Institution ostensibly for philanthropic purpose and in reality for profit, would not qualify for Section 10(23C) deduction

M/s Yash Society Vs CCIT (Bombay High Court)

A plain reading of Section 10(23C) makes it clear that the legislature has categorised for deduction income of those institutions which 'exist solely' for philanthropic purpose with a further stipulation that they would exist 'not for the purpose of profit'....

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Rate of exchange of conversion of each of foreign currency wef 20.03.2015

Notification No. 32/2000-Customs (N.T.) (19/03/2015)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) ...

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The Easier way to manage Household Finance for AAM Admi

Every year when the India’s Annual Financial Budget is presented by the Central Government, I listened to people whom they called the experts from different fields on News Channels, Seminars, Budget Talks who analyze, criticize and compare the budget reforms. ...

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Posted Under: CA, CS, CMA |