"16 November 2015" Archive

SEBI guideline on Annual System Audit, Business Continuity Plan and Disaster Recovery

Circular No. CIR/CDMRD/DEICE/01/2015 (16/11/2015)

CIRCULAR No. CIR/CDMRD/DEICE/01/2015, Pursuant to Section 131 of the Finance Act, 2015 and Central Government notification F.No. 1/9/SM/2015 dated August 28, 2015, all recognized associations under the Forward Contracts (Regulation) Act, 1952 are deemed to be recognized stock exchanges under the Securities Contracts (Regulation) Act, 1956...

Read More

Companies (Management and Administration) Third Amendment Rules, 2015

Notification No. G.S.R. 862(E) (16/11/2015)

G.S.R. (E).-In exercise of the powers conferred under sub-sections (2) and (3) of section 92 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Management and Administration) Rules, 2014, namely:-...

Read More

11 Tips to build your wealth which no advisor will tell you

India is amongst the country where people know the value of savings. We save a lot in comparison of other countries. Still when it comes to possess wealth we stand far behind. Earning, saving and wealth creation these are three different aspects of meeting our financial goals. Now question is what should be our financial goal. How we shou...

Read More
Posted Under: SEBI | ,

Carry forward of loss only when return is filed in time u/s 139(3)

Section 139(3) If a person has sustained a loss under the head Profits and gains of business or profession or under the head Capital Gains and claims that such loss should be carried forward under section 72 or section 73 or section 74 or section 74A, then he may furnish a return of loss within the time prescribed under section 139(1) and...

Read More
Posted Under: SEBI |

FEM (Transfer or Issue of Security by a Person Resident outside India) (Eleventh Amendment) Regulations, 2015

Notification No. FEMA. 355/2015-RB (16/11/2015)

‘Investment Vehicle’ shall mean an entity registered and regulated under relevant regulations framed by SEBI or any other authority designated for the purpose and shall include Real Estate Investment Trusts (REITs) governed by the SEBI (REITs) Regulations, 2014, Infrastructure Investment Trusts (InvIts) governed by the SEBI (InvIts) R...

Read More

Delhi VAT- Filing of online return for second quarter of 2015-16 – extension of period thereof

CIRCULAR NO.29 of 2015-16 (16/11/2015)

CIRCULAR NO.29 of 2015-16 In partial modification to this department's Circular No. 27 of 2015-16 on the -subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of second ...

Read More

Bad debt cannot be disallowed merely because its of Group Company

DCIT Vs Kinetic Communications Limited (ITAT Pune)

In this case During scrutiny assessment proceedings, the Assessing Officer inter alia disallowed writing off of bad debts of M/s. Kinetic Motor Co. Ltd. amounting to Rs.1,27,58,427/- as the same was Group Concern and AO further claimed that The debts have been written off as bad debts only to suppress the income....

Read More
Posted Under: SEBI | | ,

Deduction u/s. 80IB(10) cannot be denied even if area of housing project is less than 1 acre or for non ownership of land

Bhujbal Brothers Construction Company Vs DCIT (ITAT Pune)

Bhujbal Brothers Construction Company V/s. DCIT (ITAT Pune) Deduction u/s. 80I1B(10) on housing project at Damodar Residency has been denied primarily on two counts­(i) the area of the housing project is less than 1 acre, and (ii) the land on which the housing project has been developed does not belong to the assessee....

Read More
Posted Under: SEBI | | ,

Penalties Section 76 & 78 of the Finance Act under Service Tax

he main provision of penalty is covered under Section 76 & 78 of the Finance Act, 1994. These sections have been amended by Finance Bill, 2015 to rationalize the penalty. The amended provisions are compiled by me in following paragraph....

Read More
Posted Under: SEBI | ,

भारत का समग्र (औद्योगिक) विकास

नरेन्द्र दामोदर दास मोदी ने देश के प्रधानमंत्री पद का भार संभालने के साथ ही देश की समग्र विकास के लिए विदेशी निवेश के लिए सफल प्रय...

Read More
Posted Under: SEBI |