Central Government notifies Power Finance Corporation Limited 54EC Capital Gains Bond issued by Power Finance Corporation Limited (PFC Limited) vide Notification No. 27/2018-Income Tax for exemption from TDS provisions under clause (iib) of the proviso to section 193 of the Income-tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) Notification No. 27/2018-Income Tax New Delhi, […]
Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the taxpayer is at their mercy.
Amendment in Accounting Standard (AS) 11- An enterprise may dispose of its interest in a non-integral foreign operation through sale, liquidation, repayment of share capital, or abandonment of all, or part of, that operation. The payment of a dividend forms part of a disposal only when it constitutes a return of the investment.
Every significant beneficial owner is required to file a declaration in Form No. BEN-1 to the company in which he holds the significant beneficial ownership:
The Institute of Company Secretaries of India had in its mail dated 8th May, 2018 communicated the notification of Companies [Registered Office and Fees) Second Amendment Rules, 2018 by the Ministry of Corporate Affairs along with providing relaxation for the Additional Fees payable in the event of delay wherein the due date of filing of Forms falls prior to 30th June, 2018.
ICSI has come up with Exposure Draft of ICSI Guidance on Diligence Report on Governance for Banks. The Draft was released at the golden Jubilee Year National Conference of Practicing Company Secretaries (19th Edition) held at The LaLiT, Mumbai during May 18-19, 2018.
While filing application of refund on exports of Goods and Services without Payment of Tax; i.e. Accumulated ITC, Provision to give EGM number of minimum 1 digit to maximum 7 digits has been provided to the taxpayers.
Requirement of Filing: Any Person who is willing to appoint as Director in a Company/Limited Liability Partnership must have a Director Identification Number. DIN is a pre-requisite for becoming a Director. DIN includes DPIN (Designated Partnership Identification Number) Section: Section 153 of the Companies Act, 2013 Rules: Companies (Appointment and Qualification of Directors) Rules, 2014 […]
I have in my earlier article on Ease of doing business in India, published by Tax Guru on 06.11.2017 had informed that RBI had agreed to take necessary steps to set up a Public Credit Registry in India and in tune with that, RBI recently got a report on Public Credit Registry in India from a High-Level Task Force set up by RBI itself.
