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Archive: 25 April 2015

Posts in 25 April 2015

Explanation to Sec. 80-IB(9) inserted by FA 2009 w.e.f. 1.4.2000 is ultra vires to Article 14 of Constitution of India

April 25, 2015 4928 Views 0 comment Print

Issue- Whether the insertion of sub clause (iv) in Section 80-IB(9) of the Income Tax Act, 1961, by Finance (No.2) Act, 2009 conferring the benefit of the deduction under this Section to undertakings engaged in commercial production of natural gas in blocks licensed under VIIIth round of bidding provided

Empanelment with Dena Bank of CA Firms for Concurrent Audit for July 2015 to June 2016

April 25, 2015 28764 Views 0 comment Print

Applications for selection of CA Firms as Concurrent Auditors for the period July 2015 to June 2016 in Dena Bank Request For Registration For Selection Of Concurrent Auditors In Dena Bank–Download RFR Download List of Likely Vacant Centre Please click on below link for online registration:- http://webserver1.denabank.co.in:2017/ For any kind of query, Please contact at:- […]

Notes on Secretarial Standard-1 Meetings of Board of Directors

April 25, 2015 6749 Views 0 comment Print

The Secretarial Standard 1 seeks to prescribe a set of principles for convening and conduct of Board Meetings. The principles enunciated in this Standard are equally applicable to the meetings of Committees, unless otherwise stated herein or in the Act. The Directors owe a duty to the shareholders and should exercise care, skill and diligence […]

Last Date Extended for Declaration of Assets and Liabilities by public servants

April 25, 2015 1096 Views 0 comment Print

Declaration of Assets and Liabilities by public servants under section 44 of the Lokpal and Lokayuktas Act, 2013 – extension of last date for filing of revised returns by public servants who have filed property returns under the existing service rules – reg.

Key Changes / Clarification / new requirements under Secretarial Standard 1 & 2

April 25, 2015 8567 Views 0 comment Print

Sending Notice, Agenda, Resolution by Circulation and Minutes of Board Meeting under SS-1-Secretarial Standard on Meetings of Board of Directors ♣ NOTICE – The Notice shall specify the serial number, day, date, time and full address of the venue of the Meeting. ♣  AGENDA- To send Agenda to the Directors at least seven days before […]

Steps to Form a Company Under New Companies Act, 2013

April 25, 2015 8621 Views 0 comment Print

Incorporation of Company- Under Section 7 Of Companies Act 2013 read with the Companies (Incorporation ) Rules 2014. For incorporation of a company following steps is required to be followed:-

Notified Secretarial Standards introduce new rules of Board room governance

April 25, 2015 3892 Views 0 comment Print

The Secretarial Standards have been notified by the Institute of Company Secretaries of India in the Official Gazette and will take effect from July 1, 2015. Prior to the promulgation of the Companies Act, 2013, the secretarial standards were recommendatory in nature.

Cenvat Credit Can Now Be Claimed Within One Year

April 25, 2015 107160 Views 10 comments Print

The provisions of Cenvat Credit Rules, 2004 were amended whereby a manufacturer or a service provider shall not take Cenvat credit of inputs, input services after a period of six months from the date of issue of invoice, bill or challan as the case may be. It may be noted that Cenvat credit with respect to invoices / challans / bills which were dated prior to 01.09.2014 shall also be subject to such time restriction.

Analysis of Secretarial Standard on General Meetings – SS2

April 25, 2015 5623 Views 0 comment Print

Secretarial Standard on General Meeting issued by the Council of the ICSI and approved by Central Government is to be mandatorily adhered by all Companies as per the Provision of Section 118 (10) of Companies Act, 2013.

Consultative Paper On Guidelines On Overseas Investments and Other Issues/Clarifications For AIFs/VCFs

April 25, 2015 441 Views 0 comment Print

A. Overseas Investment by Venture Capital Funds (VCFs) registered under SEBI (Venture Capital Funds) Regulations, 1996) VCFs registered under erstwhile SEBI (Venture Capital Funds) Regulations, 1996 are permitted to invest in Offshore Venture Capital Undertakings, which have an Indian connection, upto 10% of the investible funds of a VCF in terms of the SEBI circular no. SEBI/VCF/Cir no.1/98645/2007 dated August 09, 2007.

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