Section 269 of Companies Act, 2013- Rehabilitation and Insolvency Fund (1) There shall be formed a Fund to be called the Rehabilitation and Insolvency Fund for the purposes of rehabilitation, revival and liquidation of the sick companies. (2) There shall be credited to the Fund— (a) the grants made by the Central Government for the […]
Section 8- Formation of companies with charitable objects, etc (1) Where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be registered under this Act as a limited company— (a) has in its objects the promotion of commerce, art, science, sports, education, research, social […]
The option of entering the manual return(s) prior to Financial Year 2012-13 & downloading the Central Forms has been removed for administrative reasons to check it’s misuse. The facility for downloading such forms after obtaining the approval concern ward incharge as being done in the past shall be provided by 15-Feb-2015.
In case the dealer has wrongly deposited the Tax in wrong TIN/TAN, a front end module has been developed to redress such issues. In this module, the dealer (in whose accounts the payment has been deposited) shall apply online for transfer of such payment to correct TIN
The dealers/persons/employers, hereinafter referred to as the applicants, desirous of seeking registrations under the Maharashtra Value Added Tax Act (MVAT), Central Sales Tax Act (CST) and the Profession Tax Act (PT) need to make online applications under the relevant Act. These applications are required to be made separately. After successful uploading of the application the applicant is required to visit the registering authority for the purpose of certain verification and submission.
Mumbai High Court on 3rd March, 2015 has ordered to assess and grant MVAT refund on the basis of Returns, what is it? In Maharashtra the Taxpayer has to pay Tax on the difference between Sales and Purchases value. In this if there is less VAT payable on sales and more VAT setoff on Purchases then the refund arises.
Everyone including me is very optimistic about passage of GST Bill in both the houses of Parliament in this undergoing budget session of parliament which has started from 23 February 2015 with the President speech and will conclude on 08th May 2015.It is worth to mention the extracts of President speech
In the recent times, the Commercial Taxes Department has started issuing Notices and passing orders to disallow the Input Tax Credit based on mismatch of purchase entries found on comparison of Annexure I of buying dealers with Annexure II of selling dealers and without following the High Court directions
Bipluv Jhingan and Amitav Singh INTRODUCTION Despite the upbeat promises made by the Hon’ble Finance Minister with regards to taxation of foreign investors, Foreign Institutional Investors (now rechristened as Foreign Portfolio Investors) still seem to be stuck in the Minimum Alternate Tax (MAT) conundrum. The new budget seeks to levy MAT on short term capital […]
CA Manish Garg The Hon’ble Finance Minister has announced some drastic changes in the service tax which include the change regarding the procedure of registration under service tax for the single premise. As per the new procedure applicants are required to submit their PAN for the registration and person also registered is required to submit […]
