"21 November 2015" Archive

Attachment of Bank Account pending stay petition – Need for instructions to VAT Authorities

Many a time, bank accounts are attached while stay petition filed by the dealer is pending before the appellate authority. Attachment notice is sent to the bank along with notice to the dealer to deposit pending disputed dues, without giving any opportunity to the dealer to represent his case. In some of the cases, attachment notices are ...

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Policy for Determination of Materiality of Events/Information

The new SEBI Regulation has made provisions for disclosure of all material events / information to Stock Exchanges{ where the securities of a company are listed } relating to the company and its material subsidiaries, if any, and complying with requirements in this regard in order attain transparency and good corporate governance....

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Companies Act, 2013- A Tour on Board Meeting

Board Meetings are considered to be important part of every organisation in building Strong Financial Position, Qualitative Management Decisions, Customer Relationship Management (CRM), Employee Relationship, Future Prospects of the Company and many more in the bucket....

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Swachh Bharat Cess-Cleaning India or Cleaning Pockets!!

This new levy of ‘Swachh Bharat Cess’ (SBC) has been revealed by the government by way of issuance of various service tax notifications, circular and FAQs and this new levy is to have effect from 15.11.2015. This article is an attempt to analyse the statutory provisions of this new levy, ‘SBC’....

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Incorporation of private limited company through INC-29

Before introduction of INC29, to incorporate a company requires 5 forms (DIR-3, INC-1, INC-7, DIR-12, INC-22) to be filled. INC-29 (Integrated incorporation process) reduces burden of filling all the forms. Compared to the old process, it has the potential to save you a lot of time, if properly implemented....

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Swachh Bharat Cess –Tax Provisions and Salient Features

When Finance Act, 2015 was enacted, rate of Service Tax was enhanced from 12% to 14% and both education cesses subsumed in the enhanced rate of Service Tax. Alongwith, a new cess called Swachh Bharat Cess (SBC) was legislated but its levy was deferred due to political reasons....

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Tax Considerations While Buying Overseas Property

Under the Indian Foreign Exchange Regulations, the limit for permissible remittance outside India (including for investing in property outside India) by resident individuals is cumulatively USD 250000 per financial year (April – March) per person as per the Liberalized Remittance Scheme. Since the aforesaid limit is per person, each mem...

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Life Balance Sheet – Relax & Move With The World River Flows

Take the financial statements, As essential documents of life. Dive as much as you can, So as to enjoy every point and each moment of time.What we get in legacy, Can be named as the opening Stock. What we leave behind as legacy,Can be termed as the closing stock....

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