"09 February 2019" Archive - Page 3

Simple Incorporation Procedure of Nidhi Company in India

WHAT IS NIDHI COMPANY Nidhi means a company which has been incorporated as a Nidhi  with the object of : -Cultivating the habit of thrift and savings amongst its members, – receiving deposits from, and lending to, its members only, for their mutual benefit, and Which complies with rules of Chapter XXVI of Companies Rules, […]...

Read More
Posted Under: Company Law |

Inadmissible Input Tax Credits (ITC) Under GST

Section 17(5) of CGST Act 2017 has been amended by CGST (Amendment) Act 2018. Below is the summary of Inadmissible / Blocked Input Tax credits under GST Act, as per amended Section 17(5): Summary of Inadmissible / Blocked Input Tax credits under GST Clause ITC not available on Exceptions (a) Motor vehicles for transportation of […]...

Read More
Posted Under: Company Law |

Compensatory payments to foreign companies not having PE in India not liable for TDS U/s. 195

SAS Institute (India) Pvt. Ltd. Vs ACIT (ITAT Mumbai)

Compensation received by foreign companies from assessee for loss of business/profit would constitute business receipts in the hands of foreign companies but the same was not liable for TDS under section 195 as the foreign companies did not have permanent establishment in India....

Read More

Amount received by retired partner from partnership firm cannot be claimed as exempt U/s. 10(2A)

Rahas Investment (P) Ltd. Vs DCIT & Vice-Versa (ITAT Mumbai)

Amount received by a retired partner from its erstwhile partnership firm could not be claimed as exempt under section 10(2A) as the reading of section makes it clear that it makes profit of a firm assessed as such exempt in the hands of its partners and assessee was not at all partner in the said firm....

Read More

Payment of transaction charges allowable as business expense in commodity business

Sanjaykumar Sarabhai Patel Vs ITO (ITAT Ahmedabad)

Transaction charges paid to National Multi Commodity Exchange of India (NMCE) was clearly in the course of commodity business and thus, assessee was entitled to claim such expenditure as ‘business expenditure’....

Read More

Note on Deposits under Companies Act, 2013

One more attempt has been made from my side to share my knowledge and experience regarding “Deposits” under the Companies Act, 2013 through this Article. As the new notification published on MCA (Ministry of Corporate Affairs) on date 22nd January 2019, this Article contains the Introduction, definition, clarification, applicability, ...

Read More
Posted Under: Company Law |

How To File Appeal Before CIT (A) – New Procedure & FAQs

NEW PROCEDURE AND FAQs TO FILE AN APPEAL BEFORE CIT (A) As you are aware, Income Tax Scrutiny cases related to A.Y-2016-17 has been over on 31st December. Some assessees are happy with the decision given by Assessing officer and some are not happy or not satisfied by their decision. To deal with such situation, Income […]...

Read More
Posted Under: Company Law |

Introduction To Secretarial Compliance Report

SEBI vide its circular CIR/CFD/CMD1/27/2019 dated February 08, 2019 has specified Format for annual secretarial audit report and annual secretarial compliance report for equity listed entities and their material subsidiaries....

Read More
Posted Under: Company Law |

Reporting of Outstanding Receipt of Money or Loan by A Company

Reporting Of Outstanding Receipt of Money or Loan By A Company Which Not Considered As Deposits in Form DPT 3 as notified by Companies (Acceptance of Deposits) Amendment Rules, 2019. MCA NOTIFICATION These rules may be called the Companies (Acceptance of Deposits) Amendment Rules, 2019. In the said rules, in rule 16, the following Explana...

Read More
Posted Under: Company Law |

MSME Form I Reporting

MSME FORM I REPORTING  (Mandatory Reporting of specified Companies in respect of MSME Dues) MCA NOTIFICATION MCA has directed that all companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty five days from the date of acceptance or the date...

Read More
Posted Under: Company Law |

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930