The only issue before Hon’ble Court is that whether assessee can claim deduction on account to remuneration paid to partners when certified copy of instrument of change of partnership deed is not filed along with the return.
14th Finance Commission (FFC) Report Tabled in Parliament; FFC Recommends by Majority Decision that the States’ Share in the Net Proceeds of the Union Tax Revenues be Raised to 42% Which is a Huge Jump from the 32% Recommended by the 13th Finance Commission Article 280 of the Constitution of India requires the Constitution of […]
The details of companies investigated by the Ministry during the last three years and current year (till date) are enclosed as Annexure-I. Chit Funds are registered by State Governments under the Chit Funds Act, 1982 – an Act administered by the Ministry of Finance but with responsibilities of implementation resting with the States. Cheating by […]
In order to smoothen the functioning of SC/RC companies, it has been decided that, henceforth only the following changes in the share holding pattern of the SC/RC will require Reserve Bank’s prior approval: any transfer of shares by which the transferee becomes a sponsor. any transfer of shares by which the transferor ceases to be a sponsor.
Discussions were held between the Indian Banks’ Association representing Managements of Banks and the authorized representatives of Workmen Unions and Officers’ Association, on wage revision for officers in banks on 23.02.2015 at Mumbai. After holding several rounds of discussions. the parties have mutually agreed as under: 1. The wage revision will be effective from 1.11.2012 […]
With the G.S.R dated 16/Feb/2015 notified on 22/Feb/2015, Central Government in consultation with NACAS (National Advisory Committee on Accounting Standards have introduced the Companies (Indian Accounting Standard) Rules, 2015. This set of rules do hereby notifies Thirty Nine(39) Ind(AS) as of now.
The Bombay Stock Exchange has started issuing Notices to the Listed Companies who submitted Corporate Governance Report for the Quarter ended December, 2014 in old format. Submission of Report in old format considered as non compliance.
कम्पनीज एक्ट 2013 में सिक्योरिटीज इशू करने के उपर बहुत सारे बदलाव किये गए है, अब यदि एक प्राइवेट लिमिटेड कंपनी भी सिक्योरिटीज इशू करना चाहती है तो प्राइवेट प्लेसमेंट प्रोसीजर को फॉलो करना होगा. प्राइवेट कंपनी निम्न दो तरीके से सिक्योरिटीज इशू कर सकती है(धारा 23 ऑफ़ कम्पनीज एक्ट 2013):- Right Share या Bonus Share इशू करके या प्राइवेट प्लेसमेंट प्रोसीजर को फॉलो करके
The Parthasarathi Shome-led Tax Administration Reforms Commission (TARC) has submitted its fourth and final report to Finance Minister Arun Jaitley. This report suggests many departures from existing methodologies including those on revenue forecasting.
Learned counsel submitted that during the course of search and seizure action, no incriminating document, material or unaccounted assets were found from the assessee. Even for the year of search i.e. A.Y. 2008-09, no addition has been made.
