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Archive: June, 2015

Posts in June, 2015

In transfer pricing, no risk adjustment desired for unquantified risk being no effect on ALP adjustment

June 12, 2015 3629 Views 0 comment Print

ITAT Jaipur held In the case of Integrated Decisions and Systems (India) Private Limited vs. ITO that these risk adjustments are only theoretically which cannot be quantified in terms of any calculation to conclude the exact adjustment in ALP.

Recent Changes In Voting Methodology under Companies Act, 2013 and Listing Agreement

June 12, 2015 11630 Views 0 comment Print

CS S. Dhanapal Rise Of The Era Of Shareholder Primacy (Covering Evoting – Poll – Postal Ballot under the Companies Act, 2013 and Listing Agreement) E-VOTING Companies Act, 2013 for the first time had mandated electronic voting for all listed companies and other unlisted public companies having not less than 1000 shareholders and the AGMs […]

FM ask banks to reduce interest rate on Bank Loans

June 12, 2015 621 Views 0 comment Print

Finance Minister Shri Arun Jaitley Reviews the Annual Financial Performance of Public Sector Banks and Financial Institutions for Fy 2014-15; asks the Chief Executive Officers (CEOs) of both the Public Sector Banks (PSBs) and Private Sector Banks to Effect a Corresponding Rate cut of 75 Basis Points in Response to RBI’s rate cut of same […]

Automobile cesses are a type of excise duty for which also rebate available under Rule 18

June 12, 2015 9555 Views 0 comment Print

Karnataka High Court in the case of M/s TVS Motors Co. Ltd. held that the automobile cess leviable under the automobile cesses rules are governed by the provisions of central excise act and rules made under the act and are in the nature of excise duty and thus, allowable as rebate under Rule 18 of Central Excise Rules,2002.

Extension of time for filing of Notice of appointment of Cost Auditor

June 12, 2015 2877 Views 0 comment Print

Extension of time for filing of Notice of appointment of the Cost Auditor for the F.Y. 2015-16 in Form CRA-2 and filing of cost audit report to the Central Government for the F.Y. 2014-15 in form CRA-4. General Circular No. 08/2015 Dated: 12th June, 2015

Interest Rate Futures (Reserve Bank) (Amendment) Directions, 2015

June 12, 2015 985 Views 0 comment Print

The Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred by section 45W of the Reserve Bank of India Act, 1934 and of all the powers enabling it in this behalf, hereby amends the Interest Rate Futures (Reserve Bank) Directions, 2013 dated December 5, 2013 (the Directions).

Clarification regarding clearance of goods after expiry of Nominated Agency Certificate

June 12, 2015 688 Views 0 comment Print

References have been received in this Directorate enquiring whether or not import consignments which started by ship during validity of the Nominated Agency Certificate (NAC) in March, 2015 can be allowed clearance, irrespective of the fact that the consignments arrived in India after 1.04.2015, when the NAC was no longer valid.

ICAI invites suggestions on CSR activities that can be undertaken by CAs/CA Firms

June 12, 2015 1896 Views 0 comment Print

Corporate Social Responsibility (CSR) is very vital in the present context of businesses. It is viewed as one of the most essential drivers while laying down the business plans and most of the corporates are aligning their CSR activities with their mainstream agenda.

Exchange Traded Cash Settled Interest Rate Futures) on 6, 10 and 13 year Government of India Security

June 12, 2015 733 Views 0 comment Print

In consultation with RBI, after taking into account feedback from market participants and Stock Exchanges, it has been decided to permit stock exchanges to introduce cash settled Interest Rate Futures on 6-Year and 13 year GoI Security.

Companies (Cost Records and Audit) Amendment Rules, 2015

June 12, 2015 6615 Views 0 comment Print

G.S.R. 486(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules, 2014

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