"17 February 2018" Archive

Persons from whom a Private Limited Company may borrow funds

The table below outlines the entities or persons from whom a Private Limited Company may borrow funds. Director is Allowed, provided a declaration is furnished by the director that the amount has not been given out of funds acquired by him by borrowing or accepting loans or deposits from others...

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Posted Under: Company Law |

Download GSTR 3B Late Fee Calculator in Excel

Download simple GSTR 3B Late Fee Calculator in Excel. Calculator calculates Late fees payable for both Nil and other than Nil Returns. Reader has to input the month of Return, Date of filing and have to specify that its Nil Return or Non Nil Return....

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Posted Under: Company Law |

FATCA Registeration and Applicability in India

In 2010, USA enacted a law known as Foreign Account Tax Compliance Act (FATCA) with the objective of tackling tax evasion through obtaining information in respect of offshore financial accounts maintained by USA residents and citizens....

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Posted Under: Company Law |

Analysis of 34 Exemptions provided to Government Companies

The below mentioned exemptions can only be availed by a Government Company which has not defaulted in filing its Financial Statements or Annual Return with the Registrar...

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Posted Under: Company Law |

PNB clarifies on alleged Scam by Nirav Modi and Gitanjali group

On 16.01.2018, the partnership firm of Nirav Modi group approached our branch at Brady House, Mumbai and presented a set of import documents with a request to allow buyers' credit for making payment to the overseas suppliers. ...

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Interest Payable U/s. 234A, 234B & 234C Calculator for FY 2017-18 (AY 2018-19

Excel Calculator for Interest Payable Under Section 234A, 234B and 234 C Calculator for FY 2017-18 (AY 2018-19)...

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Posted Under: Company Law |

Why should you file Income Tax Return year after year

Is Income Tax Filing nothing more than just paying taxes? Think twice. Several benefits are available on filing ITRs, which are not available otherwise....

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Posted Under: Company Law |

Setting up & operation of solar power plant is in nature of Works contract’ & taxable at 18% GST: AAR

In re Giriraj Renewables PVT. LTD ( AAR Maharashtra)

The applicant poses for us to decide if the Engineering, Procurement and Construction (EPC) Contract falls within the definition of composite supply as found in the GST Act. Since we have elaborately discussed and observed above that the impugned transaction is a works contract u/ s 2(119) the GST Act, we need not even enter into the disc...

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Procedure for Online Registration of Society in Maharashtra

Now we will understand the procedure for online registration of Society under the Society Registration Act, 1860 on charity organization website charity.maharashtra.gov.in....

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Posted Under: Company Law |

Composition Scheme under GST: Key Features, Eligibility & Benefits

The Objective of Composition scheme under the GST Act, is to simplify the procedural compliance’s, particularly for the Small Tax Payers and pay GST at a Fixed rate of Turnover. The finance ministry has notified the changes decided by the GST Council, chaired by Union finance minister Arun Jaitley, held on 10th November 2017. The [&...

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Posted Under: Company Law |

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