For example Section 197(12) there we have to give difference between remuneration of Directors and employees and as per decided cases Executive Directors are also employees of the Company. For finding out meaning of any word used in Act, the General rule is: First refer to the definition of the word given in that Act. If it is not defined there, refer to the definition given in General Clauses Act 1897. If it is not defined there also, then refer to the dictionary meaning.
The Hon’ble Apex Court held that it is clear that by letter dated April 15, 2002, the original purchase order dated October 31, 2001 was novated insofar as price was concerned, which is before the date of removal of goods from the factory premises in May, 2002. Since duty has been paid on the basis of the original price in the purchase order, the difference between the said rate and the reduced rate has to be refunded.
For those who are designated partners or partners in an LLP, this is the time to pull up your socks. Annual filing is here! Two forms are to be filed annually, which are: Form 8: Statement of Accounts and Solvency Form 11: Annual Return
A manager is defined under 2(53) of the Companies Act, 2013 (‘Act’), as an individual subject to the superintendence, control and direction of the Board of Directors, has the management of the whole, or substantially the whole, of the affairs of a company, and includes a director or any other person occupying the position of a manager, by whatever name called, whether under a contract of service or not.
Notification No. 34/2015-Customs (8) Subject to the satisfaction of the said officer, duty shall not be leviable in respect of capital goods, raw material, consumables, spares, goods manufactured, processed or packaged, and scrap or waste or remnants or rejects are destroyed within the unit after intimation to Customs authorities or destroyed outside the unit with permission of Customs authorities:
Notification No. 30/2015-Central Excise i) in the case of capital goods, such goods are not proved to the satisfaction of the said officer to have been installed or otherwise used within the user industry, within the period of validity of the Letter of Permission (LoP);
ANF3B-2 for claiming benefit of Served From India Scheme (SFIS) for foreign exchange earned in the year 2014-15 is being notified.
G.S.R.………….(E).- In exercise of the powers conferred by sub-rule (1) of rule 3 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997 and in supersession of notification of the Government of India in the Ministry of Finance, Department
The Council of the Institute of Chartered Accountants of India (ICAI) at its 342nd meeting held on 5th and 6th May, 2015 noted the judgment dated 24th March, 2015 delivered by the Hon’ble Supreme Court of India in case of Shreya Singhal vs Union of India, whereby Section 66 A of the Information Technology Act, 2000 has been struck down.
It has been brought to our notice that OPJS University, Churu (Rajasthan), is offering/conducting certain programmes/courses under the nomenclature ‘Master in C.A.’ and ‘Bachelor in C.A.’ (under the School of Chartered Accountant). Conduct of such courses under the said nomenclature are in contravention of various provisions of the Chartered Accountants Act, 1949 (CA Act) and various other laws. It is stated that the ICAI is seized of the said matter and appropriate action against the OPJS University, in accordance with the law, has been initiated.
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