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Archive: February, 2018

Posts in February, 2018

Expense of Corporate Membership of Director is allowable Expenditure

February 14, 2018 15501 Views 0 comment Print

Many clubs allow membership to companies or other business entities. The membership is given in name of company or other concern. It is very well known that the clubs are a platform to meet people.

Understanding of E-way Bill Concept and Key Points in simplified language

February 14, 2018 10173 Views 2 comments Print

Every registered person who causes movement of goods whose value is exceeding Rs. 50,000; (i) in relation to supply, (ii) other than relation to supply, (iii) due to inward supply from an unregistered person, shall file the details of the goods before commencement of movement of goods in PART A of GST EWB-01.

Detailed study of Condonation of Delay Scheme, 2018

February 14, 2018 8604 Views 0 comment Print

In September, 2017, the Ministry identified 3,09,614 such directors associated with the non-compliant companies and they were barred from continuing as directors. Subsequent to this, a lot of hue and cry and representations followed from the industry, and as a result, Condonation of Delay Scheme, 2018 [CODS-2018]was proposed, and further put forward by the Ministry vide a Circular. This article shall discuss the Scheme in brief, and what possibly seems to have been missed in this New Year’s gift by the MCA.

Direct Tax changes proposed in the Union Budget, 2018

February 13, 2018 35160 Views 3 comments Print

Author discusses Major Direct Tax changes proposed in the Union Budget, 2018 in thre parts 1. Amendments having Financial Implication 2. Amendments making changes in compliance procedures and Amendments having making changes in departmental procedure.

Cancellation of Registration Certificate under GST

February 13, 2018 21438 Views 7 comments Print

Understanding of Cancellation of Registration Certificate under G.S.T in simple and easy Language.

Fees for use of Software is revenue in nature and allowable U/s. 37

February 13, 2018 2574 Views 0 comment Print

License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of ‘Vision Plus’ software held to be revenue in nature and allowable under section 37

MCA notifies 43 Sections of the Companies (Amendment) Act, 2017

February 13, 2018 8604 Views 0 comment Print

The reforms in the Corporate Sector become a reality with the advent of the Companies Act, 2013 which increased the compatibility of Indian Companies on the global platform and raised the standards of Corporate Governance, Investor protection, Accountability and disclosures.

Companies (Amendment) Act, 2017: An Overview

February 13, 2018 23043 Views 0 comment Print

The calendar year of 2018 started with the enactment of the Companies (Amendment) Act, 2017.The Act brings with it the key changes in the company law especially related to disclosure, compliance, corporate governance, accountability. The entire Companies (Amendment) Act, 2017 is vast area of study. The idea behind this article is to present the gist of amendments as a ready recokner for reference to the esteemed members. The flow of article starts with the background and introduction of Companies (Amendment) Act, 2017. As we approach ahead, comes the various definitions and gist of amendments made under the aforesaid Act and finally a conclusion at the end of the article.

Get a life cover till you reach 100 with Aegon Life iTerm!

February 13, 2018 88079 Views 9 comments Print

Aegon Life Insurance brings you a unique term insurance, a first-of-its-kind product in the country which will provide life cover till you reach the age of 100. Aegon Life iTerm Insurance Plan is intended for individuals seeking financial protection for life, wish to plan a milestone event, a lump sum payout and want to leave […]

Non compete fee is not an eligible intangible asset for depreciation U/s. 32

February 13, 2018 2358 Views 0 comment Print

Non compete fee is not an eligible intangible asset as the words similar business or commercial rights have to necessary result in an intangible asset against the entire word which can be asserted as such to qualify for depreciation u/s 32(1)(ii) of the Act which non compete fees lacks

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