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Poem on delayed ITRs and Non extension of TAR due date

September 13, 2015 5674 Views 0 comment Print

@ https://taxguru.in/ – CA Dilip Khetan वाह रे CBDT का कानून… अपनी अक्षमताओं को CBDT वाले देखो कैसे – कैसे छुपाते हैं..? ITRs में ज्यादा बदलाव नहीँ किया है, ऐसा वो सारी दुनिया को बताते हैँ। खुद तो बजट पास होने के 12 महीने बाद तक भी एक ITR तक Notify नहीं कर पाते हैं… […]

Delhi Sugam-2 (DS-2) – A Step towards Simplification

September 13, 2015 47268 Views 64 comments Print

Department of Trade and Taxes, Government of National Capital Territory of Delhi has vide notification dated 10.09.2015 notified an online Form Deihi Sugam- 2 (in short DS2) for providing ‘information to the Department in respect of goods purchased or received as stock transfer or received on consignment agreement basis from outside Delhi by all the registered dealers of Delhi.

Obligation to comply with Indian Accounting Standards (Ind AS) with effect from 1st April, 2015

September 13, 2015 6612 Views 0 comment Print

Criteria-I: The following companies shall comply with the Indian Accounting Standards (Ind AS) for the accounting periods beginning on or after 1st April, 2016, with the comparatives for the periods ending on 31st March, 2016, or thereafter, namely:-

Voluntary Appointment of Managing /Whole-Time Director or Manager by Private Companies procedure and issues

September 13, 2015 35613 Views 5 comments Print

The Ministry of Corporate Affairs vide notification dated 5th June, 2015 exempted Private Companies from obtaining shareholders’ approval, complying with Schedule V, filing of Returns for appointment of Managing Director/Whole-Time Director or Manager.

Importance of written communication skill

September 13, 2015 3462 Views 7 comments Print

As we know that communication is so fundamental and prerequisite that no person or organization can exist and function effectively and readily. No professional can be effective in his work unless he possesses good communication skill.

Government notifies 4 Cost Auditing Standards

September 13, 2015 3857 Views 0 comment Print

Government of India, Ministry of Corporate Affairs, vide their letter no. 52/33/CAB/2013 dated 10th September, 2015 has, under section 148(3) of the Companies Act, 2013, granted Central Government’s approval to the following Cost Auditing Standards:

Competition Commission of India (Competition Assessment Of Legislation And Bills) Guidelines, 2015

September 13, 2015 383 Views 0 comment Print

India adopted a new economic order in the early 1990s. This empowered the invisible hands of the market, namely, demand for and supply of goods and services to determine two major outcomes, namely, quantities to be produced/supplied in the economy and prices at which these are to be exchanged. The invisible hands may occasionally malfunction in the presence of information asymmetry, externalities or market power.

CIT duly empowered to decline request for waiver of interest U/s. 234C – HC

September 12, 2015 2210 Views 0 comment Print

High court held In the case of The Fertilizers and Chemicals Travancore Ltd. vs. DCIT & CCIT that the CCIT is empowered and authorized to waive interest under section 234C only if the assessee case falls any of the two cases mentioned in notification dated 26/6/2006 for the income tax authorities

Re-opening of Assessment not valid in absence of any justifiable doubtful circumstances – HC

September 12, 2015 643 Views 0 comment Print

High court held In the case of The CIT vs. M/s Kerala Kaumudi (P) Ltd that the fundamental basis on which the assessment was re-opened itself is untenable. We are fully agree with the contention of the Tribunal that in the absence of any justifiable vitiating circumstances

Settlement Application cannot be admitted without considering objections raised by CIT

September 12, 2015 690 Views 0 comment Print

It was held by Hon’ble High Court of Bombay and Goa in the case of CIT V/s M/s Sai Prasad Properties Limited that an application under section 245D(2C) of the Act has to be disposed of after considering the objections raised by CIT

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