The Ministry of Corporate Affairs (MCA) has issued General Circular No. 04/2015, Dated: 10/03/2015 on the clarification of Loans and Advances to employees under Section 185 and 186 of the Companies Act, 2013 (“CA, 2013”). This alert has covered all the significant updates on the loans and investments made by the Indian Company which will upgrade the knowledge of each individual.
I have been getting requests from some of the readers of my blog on the kind of books one should read. As majority of you would have realized through my blog posts that I am always of the view that one should develop a keen habit to read and read good books. By reading books […]
As all are aware, the service tax is here for the past 21 years from Sept, 1994.The original provisions of the law contained in the Finance Act, 1994 have been subjected to various changes almost every year. In the proposed changes to Finance Act, 1994 pertaining to service tax, As per the Finance Bill, 2015,
CBDT Should make it mandatory to obtain the CA certificate in case of exemption or deduction claim by the assessees is in excess of certain amount for other than audit and salaried assessees for verifying the correctness and genuineness of claim.
We are in disagreement with the revenue’s argument that GMDAT should not be selected as a ‘tested party’ as the comparable as the comparable companies selected by the assessee doesn’t fall within the ambit of TPO’s jurisdiction and, thus, he can neither call for any additional information nor scrutinize their books of accounts.
IMPORT AND EXPORT MANDAOTRY DOCUMENTS REDUCED Mandatory documents required for import and export of goods reduced to three documents each (w.e.f 1st apr,15): India took a step forward in improving ‘Ease of Doing Business’ by reducing the compulsory documents required for import and export of goods. The Directorate General of Foreign Trade (DGFT) issued a […]
CENVAT rules state that when the capitals goods are used by manufacturer, the taxes paid on the same are allowed as input credit and if the goods as final product are not chargeable to duty then credit is not allowed. Manufacturing industries are working to manufacture the product for the consumption of the consumer requires lot of machines and capital goods for the transportation as well as other purposes.
For closure of Short Payment Defaults arising due to Unmatched Challans quoted in TDS Statements, CPC(TDS) has further enhanced the Online Correction facility at TRACES, providing with the feature of Move Deductees from Unmatched Challans to any other Unconsumed OLTAS Challan.
CPC (TDS) follow up: Online Correction facility not availed after sending “Intermediate Communication for Short Payments” in course of processing of Original Quarterly TDS Statements As per the records of CPC (TDS), an Intermediate communication was sent to TDS deductors intimating Short Payment errors in the Original TDS Statements filed by deductors during January 1 […]
Whether FDI can be brought if the minimum capitalization was not completed within the period of six months of the commencement of the project? No new FDI can be brought in the project if the minimum capitalization of US $ 5 million has not been achieved within six months of commencement of the project. If such minimum capitalization was achieved, FDI can be brought in till the period of 10 years or the completion of the project, whichever is earlier.
