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Archive: 17 February 2018

Posts in 17 February 2018

Persons from whom a Private Limited Company may borrow funds

February 17, 2018 257367 Views 35 comments Print

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

Download GSTR 3B Late Fee Calculator in Excel

February 17, 2018 45663 Views 1 comment Print

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.

FATCA Registeration and Applicability in India

February 17, 2018 39063 Views 7 comments Print

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.

Analysis of 34 Exemptions provided to Government Companies

February 17, 2018 38094 Views 6 comments Print

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

PNB clarifies on alleged Scam by Nirav Modi and Gitanjali group

February 17, 2018 51330 Views 8 comments Print

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.

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

February 17, 2018 26637 Views 0 comment Print

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

Why should you file Income Tax Return year after year

February 17, 2018 3033 Views 0 comment Print

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

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

February 17, 2018 2094 Views 0 comment Print

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 discussion as to whether the impugned transaction is a composite supply

Procedure for Online Registration of Society in Maharashtra

February 17, 2018 6687 Views 0 comment Print

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.

Composition Scheme under GST: Key Features, Eligibility & Benefits

February 17, 2018 15018 Views 2 comments Print

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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