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Archive: 30 October 2019

Posts in 30 October 2019

Sovereign Gold Bond (SGB) Scheme – Marking of lien

October 30, 2019 2070 Views 0 comment Print

As you are aware, the Sovereign Gold Bonds may be used as collateral by both banks and non-bank institutions and the creation of pledge, hypothecation or lien on the bonds shall be governed by Section 28 of the Government Securities Act, 2006 and Chapter VII of the Government Securities Regulations, 2007.

Payment made to legal heirs of deceased partner is admissible expenditure

October 30, 2019 8598 Views 0 comment Print

Since firm envisaged payment to a outgoing partner on the basis that the partner would have rendered service during his tenure but could not enjoy the fruits thereof on account of the fact that the work having remained incomplete, the concerned client had not been billed for the work already done, therefore, payment to the partner would amount to diversion of income at source by overriding title. Thus, payment made to the legal heir of deceased partner would be an admissible expenditure for firm.

Disclosure requirement in compliance of AS 15 (Revised 2005) for SME and Non SME Companies

October 30, 2019 20331 Views 0 comment Print

Disclosure requirement in compliance of AS 15 (Revised 2005) for SME and Non SME Companies in India In Indian context, Companies needs to comply with Accounting Standards notified under Section 133 of Companies Act 2013 to prepare the financial statements at the end each Financial Year. Ensuring the proper compliance and provisions of these Accounting […]

Key Tip for SAMVAT 2076 Investment

October 30, 2019 2835 Views 0 comment Print

The battle for SAMVAT 2076 is not between large-cap, Midcap and Small-cap. The battle is for making an efficient portfolio of investments. This article does not recommend any stock names or Mutual Fund scheme names but it shows the road map for deciding to construct the portfolio of investments. I find SAMVAT 2076 to be […]

Regional Director, New Delhi to have Jurisdiction over UT of J&K & Ladakh

October 30, 2019 1326 Views 0 comment Print

MCA notifies revised Jurisdiction of  Regional Director, North Region Directorate, Headquarter at New Delhi to States of Haryana, Punjab, Himachal Pradesh, Uttar Pradesh, Uttarakhand and Union territories of Chandigarh, Jammu and Kashmir, Ladakh and National Capital territory of Delhi. Ministry of Corporate Affairs Notification New Delhi, the 30th October, 2019 S.O. 3957(E).—In exercise of the […]

ROC Jammu-Jurisdiction of Adjudication of Penalties-UT of J&K & Ladakh

October 30, 2019 561 Views 0 comment Print

Registrar of Companies-cum‑ Official Liquidator, Jammu have Jurisdiction for Adjudication of Penalties under Companies (Adjudication of Penalties) Rules, 2014, over Union territory of Jammu and Kashmir and Union territory of Ladakh. Ministry of Corporate Affairs Notification New Delhi, the 30th October, 2019 S.O. 3956(E)._ In exercise of the powers conferred by section 454 of the […]

ROC Jammu has Jurisdiction of UT of JK and UT of Ladakh

October 30, 2019 900 Views 0 comment Print

Registrar of Companies Jammu shall have jurisdiction in respect of Union territory of Jammu and Kashmir and Union territory of Ladakh, for the purpose of registration of companies and discharging the functions under the Companies Act, 2013. MINISTRY OF CORPORATION AFFAIRS NOTIFICATION New Delhi, the 30th October, 2019 S.O. 3955(E).— In exercise of the powers […]

Valuation of shares should be based on various factors and not merely on financials

October 30, 2019 2964 Views 0 comment Print

Valuation of the shares should be made on the basis of various factors and not merely on the basis of financials and the substantiation of the fair market value on the basis of the valuation done by the assessee simply cannot be rejected where the assessee has demonstrated with evidence that the fair market value of the asset is much more than the value shown in the balance sheet.

Jammu and Kashmir Reorganisation (Removal of Difficulties) Order, 2019

October 30, 2019 9150 Views 0 comment Print

Central laws and rules made thereunder which are applicable to the existing State of Jammu and Kashmir are continued to be made applicable to the Union Territory of Jammu and Kashmir and the Union Territory of Ladakh;

IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2019

October 30, 2019 4914 Views 0 comment Print

These Regulations may be called the Insurance Regulatory and Development Authority of India (Insurance Intermediaries) (Amendment) Regulations, 2019.

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