After introduction of VAT, a large quantum of refund application have been filled. The Department under going transition due to which business process have undergone many changes. As result, a number of circular were issued from time to time to lay down the procedure for the granting of refund. As a further step towards E-Governance, the refund applications are now taken electronically and Mahavikas module for refund is now operational.
Understand the implications of directors service to a company or body corporate. Learn about the service tax requirements and exclusions for non-executive, nominee, and independent directors.
Related Party Transactions (RPTs) refer to transactions between a company and its related entities such as subsidiaries, associates, joint ventures, substantial shareholders, directors, key managerial personnel and their relatives, or entities owned or controlled by them.
Buzzing cricket news after World Cup 2015 is that Yuvraj Singh has been sold to Delhi Daredevils for whopping Rs 16 Crores in Indian Premier League (IPL). Not only this time, but he was the most expensive buy at auctions last year as well for Royal Challengers Bangalore where Mr. Mallya spent Rs 14 Crores […]
Swami Vivekananda blessed by Sri Ramkrishnadeva worked tirelessly for the upliftment of mankind ultimately for his motherland. He was a patriot and all his actions were towards the direction. He always thought for the untouchables and down trodden.
UltraTech Cement, India’s largest cement maker and part of the Aditya Birla Group, on 24th Dec, 2014 said its Board has approved to acquire two cement plants of Jaiprakash Associates in Madhya Pradesh for an enterprise value of Rs. 5,400 crore. The transaction, which is subject to due diligence, definitive agreements and regulatory approvals, will […]
Section 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of Rs. 200/- for each day’s delay in filing the statement of Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). The provision for Levy of Late filing fee was introduced to improve Filing […]
The company is on look-out to appoint a Mumbai based firm of Chartered Accountants as concurrent auditor to carry-out the concurrent audit of investment department of the company. The investment portfolio of the company is Rs.25,000 Crores (approx.)
The purpose behind issuing the Initial Guidelines was due to the practice followed by NBFCs to raise funds through issue of NCDs without any restriction. This reflected their inadequate resource planning and resulted in higher transaction cost. In view of the same, as per the Clarifications, RBI had directed NBFCs to formulate a Board approved policy for resource planning, covering the planning perspective and periodicity of private placement, before close of business on September 30, 2013.
Almost all of us go for family outings every now and then and one of the most important activities, without which an outing is not complete, is having a meal at a nice Restaurant. However, it’s the ‘RESTAURANT’S BILL’ which acts as a party spoiler due to the respective taxes and charges applied therein. Thus, […]
