"23 April 2015" Archive

Financial Statements-Schedule-III – Companies Act, 2013

What are provisions relating to financial statements under the New companies act 2013 1. Section 129 of companies act 2013, provides for preparation of financial statements. 2. 2(40) to include balance sheet, profit and loss account/income and expenditure account, cash flow statement, statement of changes in equity and any explanatory not...

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Posted Under: Company Law |

Quick Revision of Schedule II of companies Act, 2013 – Changes in Depreciation

With the introduction of the revamped Company Law, changes have been brought about in quite a few areas of interest. We’re focusing on the changes in depreciation in this article. Schedule XIV of the erstwhile Companies Act prescribed minimum SLM (straight line method) and WDV (written down value) rates for depreciation. The Companies c...

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Posted Under: Company Law |

Action against 112 Companies for issue of Shares without compliance of law

Press Release No. 116/2015 (23/04/2015)

Some unlisted companies are luring retail investors by issuing securities including non convertible debentures/ non convertible preference shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, SEBI (Issue and Listing of Debt Securities), Regulations...

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Single Online Common Return under 8 Central Labour Acts / Rules

Facility for Filing Online Single Return to be Launched Tomorrow The facility for filing Single Online Common Return under 8 Central Labour Acts / Rules on the ShramSuvidha Portal will be launched tomorrow. This service will reduce the transaction costs of business and make it easy and convenient to meet their obligations....

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Posted Under: Company Law |

Requirement of TDS in case of corporations whose income is exempted U/s. 10(26BBB)

Circular No. 07/2015 - Income Tax (23/04/2015)

CIRCULAR No. 07/2015 Date- April, 23, 2015 The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 4/2002 dated 16.07.2002 which laid down that in case of such entities, whose income is unconditionally exempted under Section 10 of the Income-tax Act (the Act) and who are statutorily not required to file return of inc...

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Service Tax Abatement Rate Chart from 01.04.2015

CA Sandeep Kanoi Abatement in Service Tax was First Introduced Vide Principal Notification No. 26/2012-Service Tax, dated 20th June 2012 and subsequently been amended vide Notification No. 2/2013 – Service Tax, dated the 1st March, 2013, Notification No. 9/2013 – Service Tax, Dated: May 8, 2013, Notification No. 08/2014 – Service Ta...

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Posted Under: Company Law |

Establishment of Tribunal under Company Secretaries (Election Tribunal) Rules, 2006

Notification No. G.S.R. 315 (E) (23/04/2015)

Central Government hereby establishes a Tribunal Consisting of the following persons to decide the disputes arising under Section 10 A of the Act in the matter of election to the Council of the institute of Company Secretaries of India held in December,2014, namely...

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Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Amendment Rules, 2015

G.S.R.314(E). (23/04/2015)

entral Government hereby makes the following rules further to amend the Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, namely:—...

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Book your Local Train /Unreserved Ticket from Mobile

‘Operation Five Minutes’ – Now Unreserved Ticketing on your Mobile Phone – Suresh Prabhu Launches Mobile App for Paperless Unreserved Ticketing Fulfilling yet another commitment of the Railway Budget 2015-16, the Minister of Railways Shri Suresh Prabhakar Prabhu launched Mobile Application for Paperless Unreserved Ticketin...

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Posted Under: Company Law |

Mandatory Leave for Employees Posted in Sensitive Positions or Areas of Operation

RBI/2014-15/563 DBR.No.BP.BC.88/21.04.048/2014-15 (23/04/2015)

Banks are hereby advised that, as a prudent operational risk management measure, it is imperative that employees posted in sensitive positions or areas of operations (viz., treasury, currency chests, risk modelling, model validation, etc.) are covered under a ‘Mandatory Leave’ policy wherein such employees are required to compulsorily...

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