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Archive: 14 January 2021

Posts in 14 January 2021

Empanelment for Verification of CA Exam Answer Books

January 14, 2021 19776 Views 3 comments Print

Invitation for empanelment as Checker for Verification of Answer Books of the Chartered Accountants Examinations held in November 2020.

Labour code and its financial impact on salaried

January 14, 2021 9909 Views 2 comments Print

How the new labour code will impact you financially While offering salaries in the private sector the employers generally restrict the component of basic salary to bare minimum to keep its minimum its own contribution for employee provident fund (EPF)  as well as payment of gratuity when the employee leaves the employment. The balance part […]

Empanelment of Special Auditors – Income Tax Department Kerala

January 14, 2021 2016 Views 0 comment Print

The Income Tax Department Kerala invites application from qualified Chartered Accountants firms (within the meaning of the Chartered Accountants Act, 1949) for empanelment as Special Auditors to carry out audit in accordance with the provisions of sec. 142(2A) of I.T. Act, 1961. The remuneration for the Special Audit is governed by Rule 14B of the I.T. Rules, 1962.

No applicability of section 14A on LTCG exemption of Rs.1 Lakh

January 14, 2021 63414 Views 2 comments Print

No applicability of section 14A on exemption of Rs.1,00,000/- (One Lakh) Long Term Capital Gain (LTCG) under Section 112A of Income Tax Act, 1961. Section 14A shall not be applicable on LTCG income earned u/s 112A. The answer to the questions of applicability of section 14A for LTCG u/s 112A, as income covered under section […]

No service tax on bundled services related to transmission & distribution of electricity

January 14, 2021 5691 Views 0 comment Print

All the services related to transmission and distribution of electricity were bundled services, as contemplated under section 66F(3) of the Finance Act, and were required to be treated as a provision of a single service of transmission and distribution of electricity, which service was exempted from payment of service tax. Thus, it was not possible to sustain the levy of service tax on the amount collected by assessee for late payment surcharge, meter rent and supervision charges.

Loan to Directors etc. – Deletion of Non-obstante clause by Companies (Amendment) Act, 2017

January 14, 2021 2559 Views 0 comment Print

Loan to Directors etc. – Deletion of Non-obstante clause by the Companies (Amendment) Act, 2017  Section 185 of the Companies Act, 2013 (CA, 2013) was notified on September 12, 2013 and came into force on the same date replacing the old Section 295 of the Companies Act, 1956 (Erstwhile Act) which provides for loans to directors. With […]

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