Archive: 30 January 2018

Posts in 30 January 2018

Allow Set Off of MAT Credit U/s. 115JAA from Tax on Total Income before charging surcharge and education cesses

January 30, 2018 1920 Views 0 comment Print

There is no ambiguity with regard to the method of computation of tax liability in view of the fact that income tax e-filing return Form ITR 6 allows deduction for credit under Section 115JAA

Quick Requirements to get a Private Limited Company incorporated in 2 days

January 30, 2018 3957 Views 0 comment Print

RUN service should be used pursuant to Section 4(4) of the Companies Act, 2013 and Rule 8 & 9 of Companies (Incorporation) Rules, 2014 which are reproduced for your reference:

Economic Survey Predicts 7-7.5 Percent Growth in 2018-19

January 30, 2018 1578 Views 0 comment Print

A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and will rise to 7.0 to 7.5 percent in 2018-19, thereby re-instating India as the world’s fastest growing major economy.

27 Changes vide Companies Amendment Act, 2017 in Company Law

January 30, 2018 5763 Views 0 comment Print

Article discusses briefly on Impact of Companies Amendment Act, 2017 on Companies Act, 2013 Provisions related to Associate Company, Joint Venture, Small Company, Name Reservation, Name Change of an Existing Company, Registered Office, Private Placement, Repayment of deposit accepted before commencement of this act, Penalty of wrongful acceptance of Deposit, Place of keeping Register, Charges, […]

Amend Rule 3(9) to Enable CAs to do Valuation of Sweat Equity: ICAI

January 30, 2018 807 Views 0 comment Print

In respect of sweat equity/ ESOP the company law guidelines specify that the valuation is to be done by the statutory auditors/ merchant bankers. Further, Rule 11UA(c)(c) also provides for the purposes of section 56

Economic Survey calls for Fiscal Federalism and accountability to avoid low equilibrium trap

January 30, 2018 435 Views 0 comment Print

Is there a low equilibrium trap if fiscal federalism is not achieved? This was the question posed by the Economic Survey 2017-18 tabled by the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley in Parliament today.

IBC Mechanism Being Used Actively to Resolve NPA Problem, Asserts Economic Survey

January 30, 2018 579 Views 0 comment Print

The IBC mechanism is being used actively to resolve the NPA problem of the banking sector. A major factor behind the effectiveness of the new Code has been the adjudication by the Judiciary. The Code prescribes strict time limits for various procedures under it. In this process, a rich case-law has evolved, reducing future legal uncertainty.

Gross Tax Collections on Track for First Eight Months of GST Era; 50% Increase in Indirect Tax Payers

January 30, 2018 561 Views 0 comment Print

The GST was unveiled after comprehensive preparations, calculations and multi-stage consultations, yet the sheer magnitude of change meant that it needed to be carefully managed. The Government is navigating the change and challenges, including the possibili

IBBI has No Association with ‘IBBI Insolvency Practitioners LLP’

January 30, 2018 570 Views 0 comment Print

It has come to the notice of the Insolvency and Bankruptcy Board of India (IBBI) that there is a Limited Liability Partnership (LLP) by the name IBBI Insolvency Practitioners LLP

Some FAQ On Composition Scheme Under GST

January 30, 2018 19251 Views 13 comments Print

Composition scheme under the law is for small businesses. This is to bring relief to small businesses so that they need not be burdened with the compliance provisions under the law.