Central Government hereby appoints the 30th January, 2019 as the date on which the provisions of section 465 of the said Act in so far as they relate to the repeal of the Companies Act, 1956 (1 of 1956) [that in except in so far as they relate to the repeal of the Registration of Companies (Sikkim) Act, 1961 (Sikkim Act 8 of 1961)] shall come into force.
HEADS OF INCOME For computation of total income, all income shall be classified under the following heads of income: A. Salaries B. Income from house property C. Profits and gains of business or profession. D. Capital gains E. Income from other sources. The total income from all the above heads of income is calculated in […]
YES Bank, founded by its current CEO Rana Kapoor, is the fifth largest private lender in the Indian Banking Sector. Rana Kapoor will be succeeded by Ravneet Gill, head of Deutsche Bank’s Indian operations. The transition is supposed to take place before 1st of March, 2019. Mr. Gill started his career by joining the erstwhile […]
As per section 149 of Companies Act 1956, every public company and other specified companies are required to get certificate for commencement of business to start its business after getting certificate of incorporation. However, this requirement was not applicable to a private company as per section 149(7)(a) of Companies Act 1956, they can start their […]
Almost all of us keep our money in saving account for meeting various items like EMIs and SIP which gets debited in due course. Since these are temporary fund these cannot be deployed in other products like Fixed Deposits with higher tenure of investment. I intend to explain how the temporary surplus fund in your […]
On 22nd January, 2019 MCA came up with a new sub-rule under Companies (Acceptance of Deposits), Rules, 2014 which says that every company (other than government company) shall file an onetime return of outstanding receipt of money or Loan by a Company but not considered as deposits and an explanation is added in Rule 16 of Companies (Acceptance of Deposits), Rules, 2014 in e form DPT-3 .
M/s Balaji Health Care Pvt. Ltd. Vs ITO (ITAT Jaipur) Conclusion: Reopening of assessment by AO on basis of report of Investigation Wing that assessee was beneficiary of accommodation entries in the form of share capital/premium/loan during the financial year was not justified as AO had not carried out any further examination and analysis in […]
Partners’ remuneration from firm should not be subject to the application of presumptive interest rate under section 44AD as the same could not be construed as gross receipts or turnover of a business independently carried on by a partner.
Fresh matters verified on Friday in the post lunch session, Saturday, Monday and Tuesday in the pre-lunch session i.e. upto 1.00 P.M. shall be listed on Friday in the same week and those verified on Tuesday in the post lunch session, Wednesday, Thursday and Friday in the pre-lunch session e. upto 1.00 P.M. be listed on Monday in the next week.
Practicing professionals are prohibited from acting as full time directors. They can only act as non-executive directors not performing administrative duties. Such persons cannot be prosecuted for offenses committed by the company. it will be a travesty of justice to prosecute all Directors if the offense is committed without their knowledge.
