"April, 2015" Archive - Page 30

Companies (Auditor’s Report) Order, 2015 i.e. CARO 2015

Order No. S.O. 990(E) 10/04/2015

(1) This order may be called the Companies (Auditor's Report) Order, 2015. (2) It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter referred to as the Companies Act], except -...

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Remuneration to managerial person appointed under Companies Act, 1956 after 01.04.2014

General Circular No. 07/2015 10/04/2015

General Circular No. 07/2015 Dated: 10th April, 2015 It is clarified that a managerial person referred to in para 1 above may continue to receive remuneration for his remaining term in accordance with terms and conditions approved by company as per relevant provisions of Schedule XIII of earlier Act even if the part of his/her tenure fall...

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Best of Judgement and Principles of Natural Justice under TNVAT Act, 2006

In the recent times, many writ petitions have been filed before the Hon’ble Madras High Court seeking intervention of the High Court and to direct the Assessing Authorities to set aside the best of judgement Orders passed under Section 22 (4) and Section 27 of the TNVAT Act, 2006 on the ground that reasonable opportunity of hearing was ...

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Posted Under: Company Law |

Limit of Gift for Govt. Employees increased to Rs. 25000/-

F.No.11017/31/1999-AIS-III 10/04/2015

a member of the service may accept gifts from his near relatives or from his personal friends having no official dealings with them, on occasions such as wedding, anniversaries, funerals and religious functions when the making of gifts is in ...

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Instruction to Migrate PAN to the new Ward/ circle as per new jurisdiction

F. No. DGIT(S)/DIT(S)-4/PAN Mlgration/2014-15/ 10/04/2015

After the new jurisdiction orders have been passed by you/ your officers' subsequent to restructuring, the PAN requires to be migrated to the new Ward/ circle as per the new jurisdiction. It appears that this activity has not been completed by some of the field officers. This is causing inconvenience to a large number of taxpayers. ...

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How to make investments which actually converts into a big portfolio

We all want to make a great portfolio of our savings to protect our future. Sometimes some mistakes are also there we put an investment without using our mind or we are trapped by someone selling a high commission product. Here we are not going to tell you where t0 invest but the main factors we should consider while investing including o...

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Posted Under: Company Law |

Impact of IT on CA Profession

CA profession includes a plenty of work to be done required by the enterprises. For eg: Audits, filing of returns , providing consultancies etc. To done these jobs successfully, CA’S requires RESOURCE MANAGEMENT and this facility is provided by the IT sector...

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Posted Under: Company Law |

India’s First International financial Service Centre in GIFT City: A New Chapter in Indian Financial Sector

International Financial Service Centre (IFSC) is a hub of financial services within a country, which has laws and regulations different from the rest of the country. Usually these centres have low tax rates and flexible regulations for securities and currency trading, banking and insurance, which makes them attractive for foreign investme...

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Posted Under: Company Law |

No capital Gain on Rollover/Extension of Fixed Maturity Plans (FMPs) in same scheme

Circular No. 6/2015-Income Tax 09/04/2015

CIRCULAR NO. 6/2015, Dated: April 9, 2015 no capital gains will arise at the time of exercise of the option in the case of Fixed Maturity Plans (FMPs) by the investor to continue in the same scheme. The capital gains will, however, arise at the time of redemption of the units or opting of the scheme, as the case may be....

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Re-insurance service is an input service for providing output service of life insurance

Commissioner of Central Excise Vs PNB Metlife India Insurance Co. Ltd. (Karnataka High Court)

The Hon'ble Karnataka HC in the case of CCE Vs. PNB Metlife India Insurance Co. Ltd held that reinsurance service is an input service for rendering insurance service because the reinsurance is an integral part of insurance service rendered by the insurance co. and cannot be termed as an activity post completion of insurance services....

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