The statement recorded by an officer on oath will be used as evidence in any proceeding, whereas statement recorded u/s. 133A has not given any evidentiary value because it was recorded by the authority, which has not been empowered to administer the oath to the assessee and take sworn statement.
The drafting and maintenance of minutes of meetings has traditionally and for long been a core function of the Company Secretary. Justifiably so, for, the Company Secretary doesn’t merely writes minutes, he writes history- the history of the company, the history of the corporate sector and, in a vicarious manner, of the economy and the country.
The ambit of persons who fall within the definition of ` insider’ ( Reg 2(g) ) as per the Regulations has been expanded. It includes both entities and individuals. Patterns of behavior on transactions by an insider and manner of sharing price sensitive information (UPSI) have been laid down explicitly,
Brief Intro: Introduction of Goods and Services Tax (GST) will indeed be an important perfection and the next logical step towards a widespread indirect tax reforms in India. As per, First Discussion Paper released by the Empowered Committee of the State Finance Ministers on 10.11.2009, it has been made clear that there would be a “Dual GST” […]
Introduction After successful launch of Jan Dhan Yojana, Prime Minister Modi had last week launched the ‘Pradhan Mantri Jivan Jyoti Bima Yojana’, ‘Pradhan Mantri Suraksha Bima Yojana’ and the ‘Atal Pension Yojana’ in Kolkata; another step forward to secure more population under their financial inclusion programme.
Employees’ provident fund Provident fund scheme is as a retirement benefit scheme. Under this scheme, a stipulated sum is deducted from the salary of the employee as his contribution towards this fund. The employer also generally contributes simultaneously an equal amount out of its pocket to the fund. The contributions of employee and employer are […]
Dictionary meaning 1. A gain or profit incidentally made from employments in addition to regular salary or wages,especially one of a kind expected or promised 2. Casual emolument or benefit attached to an office or position in addition to salary or wages 3. Anything left over that a servant or other has by custom a […]
Concurrent Audit Limits- It is our endeavour to strengthen policies and procedures that enable members to render quality services. In a separate manner, the Council decided to fix limit on concurrent audit of banks at 4 audits per member per year. Cooperative banks and RRBs were exempted from the limit. The above limit will come into effect from 1.1.2016. These limits are carefully kept to enable members to devote more time thereby improving the quality of work.
We are summarizing hereunder the changes in Service tax that are effective from May 14, 2015 and the changes that will become effective only from the date to be notified later for easy digest:
The Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015. Accordingly, the Finance Bill, 2015 now becomes Finance Act (No.20), 2015. However, it is to be noted here that increase in the rate of Service tax from 12.36% to flat 14% (Subsuming Education cess and Secondary & Higher Secondary Education cess) as was proposed in the Union Budget, 2015 will become effective only after the date to be notified and not effective from May 14, 2015.