CA Dev Kumar Kothari Today on 26.11.14 in news channels it has been reported that more construction will be allowed in Delhi area as floor area ratio has been considerably increased for various types of plots. This is very good news for home/ flat buyers because cost of proportionate share in land will reduce substantially. Builders […]
In order to provide liquidity to retail investors in such bonds, it has been decided that banks can extend loans to individuals against long-term bonds issued by them under the provisions of the above-mentioned circular. Boards of the banks should lay down a policy in this regard prescribing suitable margins, purpose of the loan and other safeguards. Further, such loans should be subject to a ceiling, say, Rs.10 lakh per borrower, and tenure of loan should be within the maturity period of the bonds. It is also clarified that banks are not permitted to lend against such bonds issued by other banks.
CIRCULAR NO. 19 of 2014-15 The return is to be filed by dealers who have made interstate sale at concessional rates against statutory forms ‘C’ or stock transferred against ‘F’ forms or sold the goods against ‘H’ forms to dealers (other than Delhi) or claimed deduction from taxable turnover against E-I/EII forms or I/J forms etc.
Discover why tax practitioners are essential and how they can help relieve the burden of tax compliance, reduce costs, and prevent legal issues.
The guidelines concerning official dealings between Administration and Members of Parliament and State Legislatures have been issued by the Ministry of Personnel, Public Grievances and Pensions and reiterated from time to time. The provisions of the Central Secretariat Manual of Office Procedure regarding prompt disposal of communications from MPs have also been reiterated from time […]
F. No. B1/6/2013-TRU Dated- 25th November, 2014 Certain representations have been received through Ministry of Commerce raising the issue that SEZ unit or developer has to approach two authorities (the SEZ authority and with the Jurisdictional Service Tax authority) for upfront exemption under notification No. 12/2013 dated 01.07.2013 as amended.
Expert Committee Constituted to Review E-Forms in order to Simplify Procedures for Stakeholders Under the Companies Act The Government has recently constituted an Expert Committee to review e-forms and other overall filing process, in order to simplify procedures for stakeholders. The Committee will (a) review the ‘e-forms’ notified under the Companies Act, 2013, (b) suggest […]
It has come to our notice that some Indian companies are accessing overseas market for debt funds through overseas holding / associate / subsidiary / group companies. It has also been reported that such borrowings are raised at rates exceeding the ceiling applicable in terms of extant FEMA regulations and that the funds so raised are routed to the Indian companies which accounts for sole/major operations of the group. RBI/2014-15/316 A.P. (DIR Series) Circular No. 41
It is very common in works contracts for the main contractor who got the work awarded in his name to off-load the work to sub-contractor(s). The sub-contractor procures the materials, installs the materials as per the contractual terms & conditions and transfer of property in the materials take place between the sub-contractor and contractee.
The exemption granted in respect of filing of the returns under the CST Act was posing difficulties in generating the lists of returns defaulters under the CST Act in the automation system i.e. Mahavikas.
