Raising of number of partners in CA Firm with reference to the provisions of Companies Act, 2013. – (02-09-2014) The Council of the Institute has clarified that the earlier restriction of maximum of 20 partners permitted for firms under section 11 of the Companies act, 1956 is no more applicable to the firms as Section […]
The Companies Act, 2013 is more than a year old now. In this brief article I intend to discuss on the aspects connected with Independent Auditors Report under the provisions of Section 143 and 145 of Companies Act, 2013 and Companies (Audit and Auditors) Rules, 2014 excluding the provisions related to audit report in case of Government Companies and other companies, where the auditor is appointed by the Comptroller and Auditor General of India.
As per Explanation(ii) to section 42 of the Companies Act, 2013 (‘the Act’), the term preference shares mean and includes that part of the share capital the holders of which have a preferential right over payment of dividend (fixed amount or rate) and repayment of share capital in the event of winding up of the company.
We know that a good deal of discussion is going on as to whether the date of ITR is also extended, whether it is mandatory to attach the copy of the tax audit report with the return and whether the return will be defective if no tax audit report is attached to the ITR.
In exercise of the powers conferred by clause (aa) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs, hereby makes the following further amendments in the notification of the Government of
CIT Vs. M/S Mcdowell & Co Ltd Now Known As United Spirits Ltd (Karnataka High Court) In the instant case, as per the scheme he was allowed to retain the sales tax as determined by the competent authority and pay the same 15 years thereafter. The tax collected was deemed to have been paid and, […]
It is seen that candidates while filling the exam forms ( either online or physical) do not exercise reasonable care and commit errors. This creates lots of difficulties for them as well as the office at Admit Card stage and thereafter.
Integrated Reporting for Corporates— New Era
The International Integrated Reporting Council (IRC) is working towards making the integrated report a corporate reporting norm. In this direction, the IRC has released The International
CBDT hereby lays down the following procedure and criteria for manual selection of returns/cases for scrutiny during the Financial-year 2014-2015:- a) Cases involving addition in an earlier assessment year in excess of Rs. 10 lakhs on a substantial and recurring question of law or fact which is confirmed in appeal or is pending before an appellate authority.
Vide the Finance Act, 2012, certain clarificatory amendments were introduced in clauses (14) and (47) of section 2, in clause (i) of sub-section (1) of section 9 and in section 195 of the Income-tax Act, with retrospective effect from 01.04.1962 in relation to transfer of assets. For the proper administration of these provisions of the Act, the Central Board of Direct Taxes (CBDT), in exercise of its power u/s 119 of the Act, hereby directs the following:-
