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Notification No. 41/2014-Income Tax ,Dated : 29.08.2014

August 29, 2014 547 Views 0 comment Print

Government of India Ministry Of Finance Department Of revenue Central Bord Of Direct Taxes Notification No. 41/2014 Dated : 29.08.2014 Download Full Text of The Notification Read Notification Below  

Amendment to Schedule II of Companies Act 2013 related to useful life, residual value & component accounting

August 29, 2014 23214 Views 0 comment Print

MCA has further amended Schedule II of the Companies Act 2013 with regards to useful life, residual value and component accounting. With regards useful life and residual value the revised requirements are; The useful life of an asset shall not ordinarily be different from the useful life specified in Part C and the residual value of an asset shall not be more than five per cent. of the original cost of the asset:

Section 153C – Mere use or mention of word “satisfaction” or the words “I am satisfied” in order or note is not sufficient

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On a plain reading of Section 153C, it is evident that the Assessing Officer of the searched person must be “satisfied” that inter alia any document seized or requisitioned “belongs to” a person other than the searched person.

Notification No. 40/2014-Income Tax ,Dated : 29.08.2014

August 29, 2014 622 Views 0 comment Print

Government of India Ministry Of Finance Department Of revenue Central Bord Of Direct Taxes Notification No. 40/2014 Dated : 29.08.2014 Download Full Text of The Notification Read Notification Below

Notification No. 39/2014-Income Tax , Dated : 29.08.2014

August 29, 2014 400 Views 0 comment Print

Government of India Ministry Of Finance Department Of revenue Central Bord Of Direct Taxes Notification No. 39/2014 Download Full Text of The Notification Read Notification Below

Notification No. 38/2014-Income Tax , Dated : 29.08.2014

August 29, 2014 577 Views 0 comment Print

Government of India Ministry Of Finance Department Of revenue Central Bord Of Direct Taxes Notification No. 38/2014 Download Full Text Of The Notification Read Notification Below

Notification No. 37/2014-Income Tax , Dated : 29.08.2014

August 29, 2014 517 Views 0 comment Print

Government of India Ministry Of Finance Department Of revenue Central Bord Of Direct Taxes Notification No. 37/2014 Download Full Text Of The Notification  Read Full Notification below

Section 37- Redemption fine paid under Customs Act, 1962 is allowable expenditure    

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The respondent-assessee, a partnership firm, was engaged at the relevant time in manufacture of organic chemicals. Under an agreement dated 9th June, 1987 with M/s India Craft, the respondent-assessee purchased 630 metric tonnes Isobutanol by sale on high-sea basis.

Assessee can maintain two separate portfolios, one for investment & other for business of dealing in shares

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The ld. Counsel for the assessee has furnished before us the details of transactions in shares made by the assessee in the year under consideration as well as in the immediately preceding year i.e. A.Y. 2006-07 to show that the nature of transactions including their frequency

Draft Board resolutions to be passed in first board meeting

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If you are required to file DPT4 , a resolution should be passed authorizing a director to file DPT4. Such approval can be in either First Board meeting or in subsequent board meeting. Similar requirement is for the granting or borrow of Loan or investment.

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