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Archive: 06 July 2015

Posts in 06 July 2015

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6447 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Terminologies Frequently Used In Legal Jargon

July 6, 2015 1982 Views 0 comment Print

Many of our readers are students, pursing Professional courses, like CA, CS, CMA, etc., aiming to be a great professional in their life. While going through the studies most of us find hard to understand the meaning of some terms, words and/ or expressions, due to their origin in different languages. This piece of writing is my deliberate attempt to make you aware of such terms, words, and/or expressions, with an aim to help you, during your studies.

Hiring a tax consultant: An expense or an investment?

July 6, 2015 2753 Views 0 comment Print

Most of us face this dilemma at some point of time in life – Should I spend 4 hours repairing a certain item (be it an air conditioner, some furniture or something else) or spend some money to hire an expert to do it efficiently. It was into the sixth hour of trying to repair my virus-infected laptop when the miser in me gave up and my mind cried out Is 6 hours of your day really worth Rs. 2,000 which you are trying to save by not calling for the services of a Software Engineer?

Gist of Representations submitted by the Direct Taxes Committee of ICAI

July 6, 2015 1319 Views 0 comment Print

Submission of suggestions on forms other than ITR – ICAI was requested to submit the suggestions on forms other than ITRs. In this regard, the Committee has submitted the suggestions in two parts: a) Suggestions on Formats of Form Nos. 3CA/3CB/3CD b) Suggestions on Format of other forms like Form No. 3CEB, 10CCB, 15CA etc.

CBDT notifies list of entities who can issue Tax free, secured, redeemable, non-convertible bonds during financial year 2015-16

July 6, 2015 2438 Views 0 comment Print

In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorises the entities mentioned in column (2) of the Table given below, to issue, tax- free, secured, redeemable, non-convertible bonds during the financial year 2015-16, aggregating to amounts mentioned in column (3) of the said table, subject to the conditions, namely :-

Public Notice No. 25 (2015-2020), Dated: 06.07.2015

July 6, 2015 556 Views 0 comment Print

In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy, 2015-2020, the Director General of Foreign Trade hereby authorizes the following agencies to issue Certificate of Origin.

Companies Act, 2013 – Exemption to Private Companies

July 6, 2015 21940 Views 0 comment Print

MCA has issued exemption vide Notification dated 05/06/2015 under section 462 of the Companies Act 2013 providing necessary exemptions to private company other than subsidiary of public companies from the provisions of Companies Act, 2013. Summary of such exemptions to private company other than subsidiary of the Public Companies from the provision of the Companies Act, 2013 is as follows :-

Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporation and Depositories

July 6, 2015 2139 Views 0 comment Print

Cyber attacks and threats attempt to compromise the Confidentiality, Integrity and Availability (CIA) of the computer systems, networks and data bases.1 Cyber security framework include measures, tools and processes that are intended to prevent cyber attacks and improve cyber resilience. Cyber Resilience is an organisation’s ability to prepare and respond to a cyber attack and to continue operation during, and recover from, a cyber attack.

Exemption u/s 54B can be claimed for long term & short term assets; land purchased has to be in the name of assesse

July 6, 2015 2436 Views 0 comment Print

Punjab & Haryana High court held in CIT vs Shri Dinesh Verma that exemption u/s 54B could be claimed for short term & Long term assets because there was no such provision u/s 54B which denies exemption for short term assets.

Regarding Digitally signed invoices in Central Excise and Service Tax-Conditions, safeguards and procedures

July 6, 2015 4118 Views 0 comment Print

Central Board of Excise and Customs hereby specifies the following conditions, safeguards and procedures for issue of invoices, preserving records in electronic form and authentication of records and invoices by digital signatures, namely:- 1. Every assessee proposing to use digital signature shall use Class 2 or Class 3 Digital Signature Certificate duly issued by the

FAQs on Tax Compliance for Undisclosed Foreign Income and Assets

July 6, 2015 4872 Views 0 comment Print

Circular No. 13 of 2015 If firm has undisclosed foreign assets, can the partner file declaration in respect of such asset? Answer: The declaration can be made by the firm which shall be signed by the person specified in sub-section (2) of section 62 of the Act. The partner cannot make a declaration in his name. However, the partner may file a declaration in respect of an undisclosed asset held by him.

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