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Archive: October, 2017

Posts in October, 2017

An analysis on Section 185 of the Companies Act, 2013

October 13, 2017 52713 Views 1 comment Print

The section 185 of Companies Act, 2013 was notified on 12 September, 2013 and was applicable from that day itself.  If there is any deviation from the conditions laid under this section then the Auditor is required to report the same in his Audit Report.

Resolution of Common Issues of GSTR 3B, GSTR 1 & TRAN 1

October 13, 2017 10038 Views 0 comment Print

GSTR 3B:- i. Key Steps in filing GSTR 3B ii. Key Issues in filing of GSTR 3B, GSTR 1:- i. Key Steps in online filing GSTR 1, ii. Key Issues in online filing of GSTR 3B, iii. Key Steps in filing though offline tool, iv. Key Issues in filing through offline tool, TRAN 1:- Key Steps in filing TRAN 1, ii. Key Issues in filing of TRAN 1

IGST Refund to Exporters – Still a Myth

October 13, 2017 8271 Views 4 comments Print

There was great Euphoria, Enthusiasm & Excitement in Export Community when a flash news thrashed in the media after the 22nd meeting of GST Council on 6th October 2017 that recommended release of Refunds and other beneficial proposals for exporters as a boon for them and to normalize the working of exporters and to ensure the inflow of foreign exchange for the exchequer.

4 primary factors to consider when investing in property

October 13, 2017 1971 Views 1 comment Print

There are some important factors to consider when investing in property. If these factors are considered when investing in property, it will help increase the capital appreciation and rental income from the property. So pay proper attention to these primary factors to consider when investing in property.

Customs is the King: Maharera, Mumbai’s Landmark Judgement (on Refund of Amount with in Interest for Delayed Possession)

October 13, 2017 12237 Views 1 comment Print

In, Avinash Saraf versus Runwal Homes Private Limited case, the landmark judgement given by MAHARERA, Mumbai, having complaint number 32, Dated 13th October 2017. Final judgement is given by Honorable Shri B. D.KAPADNIS.

UAE VAT: Federal Tax Authority Service Fee & Administrative Fines Chart

October 13, 2017 1173 Views 0 comment Print

The UAE Council of Ministers has adopted Cabinet Decision No. (39) of 2017 on Fees for Services Provided by the Federal Tax Authority and Cabinet Resolution No. (40) of 2017 on Administrative Penalties for Violations of Tax Laws in the UAE. These Fee and Fines are applicable for VAT and other Tax Laws of the […]

More powers for Independent directors – Uday Kotak Committee recommendations: A heated discussion

October 13, 2017 1614 Views 0 comment Print

SEBI formed a committee on corporate governance in June 2017 under the Chairmanship of Mr. Uday Kotak with a view to enhancing the standards of corporate governance of listed entities in India. The committee consisted of officials from the government, industry, professional bodies, stock exchanges, academicians, lawyers, proxy advisors, etc.

FAQs on Non Banking Financial Company – Micro Finance Institutions

October 12, 2017 4170 Views 0 comment Print

An NBFC-MFI is defined as a non-deposit taking NBFC (other than a company licensed under Section 25 of the Indian Companies Act, 1956) with Minimum Net Owned Funds of Rs.5 crore (for NBFC-MFIs registered in the North Eastern Region of the country, it will be Rs. 2 crore) and having not less than 85% of its net assets as qualifying assets.

GST on Leasing of vehicles purchased and leased prior to 1st July, 2017

October 12, 2017 2178 Views 1 comment Print

Leasing of vehicles purchased and leased prior to 1st July, 2017 would attract GST at a rate equal to 65% of the applicable GST rate (including Compensation Cess). In order to provide relief to old/existing leases of motor vehicles, GST Council in its 22nd Meeting held on the 6th October, 2017 in the national capital […]

Hoardings rent income of Housing Society is taxable as House Property Income

October 12, 2017 4998 Views 0 comment Print

Bimanagar Co. Op. Housing Society Ltd. Vs ITO (ITAT Ahmedabad)- ITAT held that income earned by the assessee, in consideration of having given rights to have play hoardings etc. are taxable as income from house property. Accordingly, deduction under section 24(a) was indeed admissible in the present case. Full Text of the ITAT Order is […]

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