Be just like a child who looks the world as it as. He has no filters in his mind. He has a keen desire to learn new things. As he grows up and wants to take some initiatives, society comes in front of him and gives the examples of many people who failed in their […]
What’s in the name is not a very popular saying these days. When talking about a business concern particularly a Company, name is its identity and selecting a right name for your business is really important. The name may be such which reflects the business activity or it might be something simple and easy.
It is not feasible to call Board Meeting when approval of Directors is required on urgent basis. In such cases, resolution is approved by circulation as envisaged under section 175 of the Companies Act, 2013.
Decisions of a Company are taken by its Board of Directors at their meetings. The Companies Act, 2013 (hereinafter referred to as Act) has put in place provisions to call, convene, conduct and regulate these meetings but the law had also mandated that every Company should observe Secretarial Standards.
Finance Minister Arun Jaitley on 30 April 2015 said that capital gains made by foreign investors will be exempt from Minimum Alternate Tax (MAT), but did not provide relief for past liabilities.
The MAT provisions were introduced in statute by the Finance Bill, 1996 and the Finance Minister while introducing this provision observed that the company engaged in the power and infrastructure sector will remain exempt from the levy of MAT.
Please refer to para 5 (A) of our circular UBD.BPD.(PCB).Cir. No.53/13.05.000/2013-14 dated March 28, 2014 wherein it was stipulated that if the sale is for a value higher than the Net Book Value (NBV), the excess provision will not be reversed, but will be utilised to meet the shortfall/loss on account of sale of other financial assets.
NSDL has issued new file validation utility (FVU) version 4.6 for filling and correction of TDS quarterly return from FY 2010-11 and onwards. It has some additional controls put in which check various calculations and tried to get maximum information with less error. However due to more control authority has not kept in mind few concepts of TDS on salary. It is very difficult to prepare TDS on salary form 24Q return.
Existing provision: Schedule I, appended to the PT Act provides for rates of tax for different classes of persons. Entry 1 in this Schedule contains slab-wise rates of tax, applicable to salary and wage earners. Entry 1 in Schedule I was amended last year w.e.f. 1St July 2014 to increase the exemption limit for salary/wage earners to rupees 7,500 per month.
All applications for adjournment shall be filed atleast three weeks in advance, except in exceptional cases for which reasons for filing them beyond that period shall be clearly stated in the application. The application will be filed in duplicate and the copy served in advance on the opposite party. In case the opposite party writes ‘not opposed’ on the application,
