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Archive: 30 March 2015

Posts in 30 March 2015

Download MCA Fee Calculator for Change in Authorised Share Capital

March 30, 2015 157329 Views 17 comments Print

Here is the Fee Calculator(EXCEL) required for MCA E-Form SH-7 in case of Declaration of Changes in Authorised Share Capital of the Company to ROC u/s 64(1), Rule 15 of Companies(Share Capital and Debentures Rules,2014. Calculator will be Useful for Practising Chartered Accountants and Company Secretaries and other Corporate Law Professionals. Click here to Download […]

Act before it’s too late: Section 74 scares all!

March 30, 2015 6360 Views 0 comment Print

One of the provisions of Companies Act, 2013 (Act 2013/Act) which has almost got sleepless nights to all as we are approaching 31st March is the provisions of section 74. With the introduction of section 74 which was notified on April 01, 2014, any deposit accepted by a Company had to be repaid in terms of section 74 (1). But are all the companies in a position to do it? What if the companies cannot repay? Below we discuss the shortcomings faced by companies for complying with section 74.

Loan Received by private companies from members, directors or their relatives before 01.04.2014 is not deposit

March 30, 2015 25009 Views 0 comment Print

Stakeholders have sought clarifications as to whether amounts received by private companies from their members, directors or their relatives prior to 1st April, 2014 shall be considered as deposits under the Companies Act, 2013 as such amounts were not treated as ‘deposits’ under section 58A of the Companies Act, 1956 and rules made thereunder.

Income tax Calculator for Financial year 2015-16

March 30, 2015 23409 Views 0 comment Print

Please find attached the Excel file containing Income Tax calculator as modified by Finance Bill 2015 presented on 28th February 2015. The above Income Tax calculator contains the rate of tax for last 19 financial year (i.e Financial year 1997-98 to 2015-16) and income tax calculator for last 9 years (i.e Financial year 2006-07 to 2015-16).

Income Tax officer from Mumbai held in graft case

March 30, 2015 4753 Views 0 comment Print

CBI ARRESTS AN INCOME TAX OFFICER FOR ACCEPTING BRIBE OF RS. 75,000/- The Central Bureau of Investigation has arrested an Income Tax Officer Preeta Babukuttan posted at Range 31(1)(2), Mumbai for demanding & accepting a bribe of Rs. 75,000/- from the Complainant.

Declaration Format for Claiming Deduction from Salary for F.Y. 2014-15

March 30, 2015 96118 Views 11 comments Print

DECLARATION- I, declare that the above statement is true to the best of my knowledge and belief. In the event of any change that may occur during the year pertaining to the information given in the form, I undertake to inform the same to the company. Income Tax liability arising due to failure, if any, for not making / not intimating payment / investment made or proposed to be made by me and / or any wrong declaration would be my responsibility.

Notification No. 13/2015-Customs dated the 30th March, 2015

March 30, 2015 3981 Views 0 comment Print

Notification No. 13/2015 – Customs Seeks to amend Notification No. 69/2011-Customs dated 29th July 2011 so as to notify the next tranche of tariff concessions under the India-Japan Comprehensive Economic Partnership Agreement (CEPA), w.e.f. 01st April 2015

An Attempt to Simplify E-I E-II Sales under Central Sales Tax Law

March 30, 2015 8357 Views 9 comments Print

What is E-I E-II Sales: Before starting this article is it is important to explain the meaning of E-I and E-II sales. As per CST law tax is levied at single point i.e. when the goods are sold from Haryana to Delhi then tax should be levied in Haryana only even if the goods are sold further during their movement from Haryana to Delhi subject to certain conditions.

Service Tax Compliances in Banking Sector-Download free e-book

March 30, 2015 2261 Views 0 comment Print

As you may be aware Service tax on Banking and other financial services was imposed w.e.f.16-07-2001. The taxation of services has also undergone a paradigm shift from positive list to negative list in the year 2012. Post implementation of taxation of services based on negative list, service tax compliance has now become an integral part […]

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