Under Chapter XVII-B of the Act, a person is required to deduct tax on certain specified payments at the specified rates if the payment exceeds specified threshold. The person deducting tax (‘the deductor’) is required to file a quarterly statement of tax deduction at source (TDS) containing the prescribed details of deduction of tax made […]
Corporate Social Responsibility (CSR) Under the Companies Act, 2013 certain companies (which have net worth of Rs. 500 crore or more, or turnover of Rs.1000 crore or more, or a net profit of Rs.5 crore or more during any financial year) are required to spend certain percentage of their profit on activities relating to Corporate […]
Over the last decade the service tax collections have shown tremendous growth, thus it is becoming more important to the Government Exchequer. After the introduction of Negative List based Service Tax regime, to broaden the tax base of service tax, only option available is to snip the negative list and the exemptions. Thus, the following new services have been brought into service tax net:
Under Companies Act 2013, A Private Limited Company can raise funds via Capital in 3 Ways :- 1) Private Placement/ Preferential Allotment. 2) Right Issue/preferential Allotment. 3) Bonus Issue.
Rule 4 of the CENVAT Credit Rules, 2004 provides the conditions for availment of credit. Amendment rules inserted a new proviso after the second proviso in Rule 4(1). The new proviso shall be inserted with effect from first day of September, 2014. The proviso has been reproduced as under:
RBI has done away with the recommendation to compute price by a particular method and has thereby enabled the Chartered Accountant and the SEBI registered Merchant Bankers to choose any internationally accepted methodology for pricing. This is surely in line with what was assured in the policy statement.
Any application or form filed with the Central Government or Regional Director or Registrar (hereinafter referred to as `the authority’) prior to the commencement of these rules but not disposed of by such authority for want of any information or document shall, on its submission, to the satisfaction of the authority, be disposed of in accordance with the rules made under the Companies Act, 1956 (1 of 1956)
The principal rules were published in the gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide number G.S.R. 238(E), dated the 31st March, 2014.
Under the existing provisions contained in sub-section (1) of section 80CCD of the Act, if an individual, employed by the Central Government or any other employer on or after 1st January, 2004, has paid or deposited any amount in a previous year in his account under a notified pension scheme, a deduction of such amount […]
Section 153C of the Act relates to assessment of income of any other person. The existing provisions contained in sub-section (1) of the said section 153C provide that notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any money, bullion, […]
