CA Vinod Kaushik Introduction: Before I begin this article it is crucial to discuss the reasons behind writing this article with such a scary title and too when the concept of ease of doing business is on its peak. In fact all of us use the e-commerce in daily life to buy goods without moving […]
In The Commissioner of Income Tax vs. Income Tax Settlement Commission, Chirag Construction RMC [WRIT PETITION NO.1266 OF 2013, DECISION PRONOUNCED ON : 30 AUGUST 2013], the Bombay High Court observed the decision of the Apex Court in the matter of Commissioner of Central Excise v/s. Ratan Melting & Wire Industries 231 ELT page 22.
AO made the disallowance by invoking the provisions of section 40A(2) of the Act, however nothing was brought on record on the basis of the comparative analysis to substantiate that the commission paid to the related parties was higher than the commission paid to unrelated parties.
The reopening has basically been done for two reasons – the first one being the alleged difference between Unsecured Loans from Directors in the Balance Sheet and Unsecured Loans from Directors in Audit Report under Form 3CD; and the second one
Every law promulgated by any legislature is based on certain reason, belief and welfare of the society. The laws will provide us social security from exploitations, whether it will be physical or social. For development of a society and economy it is essential that there should be free competition among players. Every player in the market will get adequate space and time to participate and put their products or services before the people.
Sensex is calculated using the Free-float Market Capitalization methodology. As per this methodology, the level of index at any point of time reflects the Free-float market value of 30 component stocks relative to a base period. The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalization is further multiplied by the free-float factor to determine the free-float market Capitalization.
Ministry of Corporate Affairs {MCA} vide its Circular no. 17/2011 dated 21-4-2011 and no. 18/2011 dated 29.4.2011 had given clarifications regarding sending copies of Balance Sheets and Auditors Report etc { documents} to the members of a company under section 219 of the Companies Act 1956 {erstwhile} through electronic mode.
The Reserve Bank of India has notified Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 to prohibit, restrict or regulate, transfer or issue security by a person resident outside India.
This circular RBI/2015-16/122 dated July 9, 2015 has been issued in continuance of DNBS (PD) CC.No.376/03.10.001/2013-14 and Notification No. DNBS (PD) 275/GM(AM)-2014 dated May 26, 2014 wherein ‘Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014’ have been given.
This is to inform that Multipurpose Empanelment Form for the year 2015-16 has been made live at www.meficai.org. Last date for submission of online form is 31st August, 2015 and the last date of submission of hard copy of “DECLARATION FOR MEF 2015-16” is 15th September, 2015.
