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Archive: 18 December 2017

Posts in 18 December 2017

Payment for annual maintenance contracts could not be classified as fee for technical services

December 18, 2017 14118 Views 0 comment Print

It was held that the payment made for annual maintenance contracts would not fall under the category of fee for technical services within the meaning of provisions of section 194J of the Act.

Section 186 of Company Act 2013- Loan and investment by company

December 18, 2017 40338 Views 4 comments Print

Without prejudice to the provisions contained in this Act, a company shall unless otherwise prescribed, make investment through not more than two layers of investment companies

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017- An introspection

December 18, 2017 1752 Views 0 comment Print

An ordinance on Insolvency and Bankruptcy code, 2016 was issued on November 23, 2017. The ordinance was brought in to rectify certain deficiencies in the code. Major deficiency of Insolvency and Bankruptcy code 2016 was the backdoor entry of crony capitalist promoters.

The surprising Truth about Alternative Investments

December 18, 2017 1662 Views 0 comment Print

Other than the conventional forms of investments like bonds and shares, investors may often explore non-conventional areas for investment, like structured investment product, venture capital, equity crowd funding, rare coins, stamps, forestry and art.

Welcome of the New year in GST by E-way Bill!

December 18, 2017 16725 Views 3 comments Print

Arjuna, in the meeting held on 16th December, decisions relating to E-way bill were taken. By overcoming all the conceptual and technical difficulties, Government has decided to levy the provisions of E-way bill.

Hotels / restaurants can Sale mineral water above MRP: SC

December 18, 2017 4491 Views 0 comment Print

Federation of Hotel and Restaurant Association of India (Supreme Court of India); Hon’ble SC held that that neither the Standards of Weights and Measures Act, 1976 read with the enactment of 1985, or the Legal Metrology Act, 2009, would apply so as to interdict the sale of mineral water in hotels and restaurants at prices […]

How to Automate Year End Investment Submission and Verification System

December 18, 2017 17985 Views 1 comment Print

Employers need to deduct taxes from the salaries of their employees every month. To save these taxes, employees submit investment declarations through which they claim allowances and deductions. So, before deducting taxes, an employer computes the taxable income of his employees based on these declarations.

Procedure for forwarding samples for testing to Outside Laboratories

December 18, 2017 2166 Views 0 comment Print

The procedure for forwarding the samples to the laboratories shall be as follows: a. JNCH follows the respective standard sampling technique as prescribed by the concerned laboratory for the items under question. For any new items / goods, officers have been directed to ascertain sampling requirement with the laboratory concerned before drawing samples from the consignment. The sampling requirements has been specified in column no 5 of enclosed Annexure.

ICAI: Digital Competency Maturity Model for Professional Accounting Firms

December 18, 2017 2736 Views 0 comment Print

The Institute of Chartered Accountants of India (ICAI), has released Digital Competency Maturity Model (DCMM) for Professional Accounting Firms to enable the members/ firms to assess the current digital competence of their firms and building their firms competencies for their own growth and the profession at large.

13 FAQs on GST replied by GOI on its twitter handle on 17.12.2017

December 18, 2017 7380 Views 1 comment Print

Question 1: Mai mere buyer Jo ki intra state hai, aur SEZ mai business karta hai usko IGST charge karke regular rate se invoice raise karta hoo, but Jab wo mujhe bill ke against payment karta hai tab GST ki amount less karke payment karta, Is it right or wrong? Answer: You can claim refund […]

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December 2017