6A. Omnibus approval for related party transactions on annual basis.- All related party transactions shall require approval of the Audit Committee and the Audit Committee may make omnibus approval for related party transactions proposed to be entered into by the company subject to the following conditions, namely:-
One of the key objectives of GST should be to ease the tax compliance in doing business in India. At present, for large and medium enterprises having business across India, one has to get registered in each of the State and Union Territory, have tax persons posted in major big sates for ensuring regulatory compliance under these separate VAT Acts including filing of Returns and Assessments separately for each state.
DGFT has received representations from exporters requesting for providing benefits under focus Product Scheme of Foreign Trade Policy 2009-14 on the export of industrial valves under item at Sl No. 269 of Appendix 37-D, Table-I of Foreign Trade Policy 2009-14 notified vide public notice no.52 dated 25.02.2014 or under any other any other SI. No. in the earlier public notices having same description and even to those items which are not used in bicycles.
13. Reporting of frauds by auditor and other matters: (1) lf an auditor of a company, in the course of the performance of his duties as statutory auditor, has reason to believe that an offence of fraud, which involves or is expected to involve individually an amount of rupees one crore or above, is being or has been committed against the company by its officers or employees, the auditor shall report the matter to the Central Government.
Notification No. 62/2015-Customs (ADD) Seeks to levy definitive anti-dumping duty on Abendazole, originating in, or exported from the Peoples Republic of China, for a period of five years
Notification No. 57/2015 – Customs Seeks to further amend Notification No. 69/2011-Customs, dated 29th July, 2011 so as to provide a concessional rate of basic customs duty in respect of tariff item 84082020 [engines of a kind used for the propulsion of motor vehicles – of cylinder capacity exceeding 250 cc] and 87084000 [gear box and parts thereof, of motor vehicles], w.e.f. 1st of January, 2016 at 5.94% and 8.13%, respectively, when imported under the India-Japan Comprehensive Economic Partnership Agreement (IJCEPA)
In the case of Sodexo SVC India Private Limited. Vs The State of Maharashtra and Others, Bombay High Court has held that Sodexo meal vouchers are utility goods- Octroi & LBT can be levied on the same. Sodexo has preferred an appeal against the verdict in Supreme Court
I wish to inform you that the counting of votes for election to the twenty third Council and twenty second Regional Councils will commence from 20th December, 2015. The venue for the Counting will be Institute’s premises at ICAI Bhawan, A-29, Sector 62, NOIDA – 201 309. The counting will start at 10.00 A.M. on each day and […]
Delhi High Court held In the case of Maruti Suzuki India Ltd. (MSIL) vs. CIT that the transfer pricing adjustment is not expected to be made by deducing from the difference between the ‘excessive’ advertisement
ITAT Mumbai held In the case of DCIT vs. Viraj Profiles Ltd. that section 14A provides that it mandates disallowance of expenditure ‘in relation’ to the income which does not form part of the total income while clause (f) in explanation1 to Section 115JB (2) mandates disallowance of expenditure ‘relatable’
