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Is e-voting mandatory for Listed Companies?

June 26, 2014 17507 Views 0 comment Print

Section 108 of the Companies Act, 2013 (‘Act, 2013’) read with Rule 20 of the Companies (Management and Administration) Rules, 2014 (‘MGT Rules’) had made it mandatory for every listed company and company having not less than 1000 shareholders to provide e-voting facility at general meetings.

Export of Potatoes is subject to MEP of US$ 450 per MT

June 26, 2014 2129 Views 0 comment Print

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development& Regulation) Act, 1992 (No.22 of 1992), as amended, read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Chapter 7 of Schedule 2 (Export Policy) of ITC(HS) Classification of Export & Import Items.

Procedure relating to tracking and tracing of export consignment of pharmaceuticals and drugs

June 26, 2014 1298 Views 0 comment Print

(i) The requirement of affixing bar codes on Tertiary Level and Secondary Level Packaging already implemented w.e.f. 01.10.2011 and 01.01.2013 respectively continue to be in force.

Applicability of Wealth tax on making charges of jewellery

June 25, 2014 9104 Views 0 comment Print

Under the scheme of Wealth Tax in India, Wealth tax is levied on the net wealth of the every individual, Hindu undivided family and company as on the valuation date. Net Wealth means the amount by which the aggregate value computed in accordance with the provisions of Wealth Tax Act of all the assets

MCA initiates step to restore heydays for Private companies: issues draft notification for public comments

June 25, 2014 4615 Views 0 comment Print

Ministry of Corporate Affairs published a Draft Notification on 24th June, 2014 which, by far if notified, will be of paramount importance and will restore the heydays for private companies. Clearing the air with respect to the same, the Ministry of Corporate Affairs published a draft notification on the inapplicability/ partial/modified applicability of certain provisions of Companies Act, 2013 to the Private Companies in exercise of powers under section 462 of Companies Act, 2013 which states as under:

Rail Fare – Only 14.2% in hike monthly pass rates- No Change in 2nd Class fare for distance up to 80 Km

June 25, 2014 11959 Views 0 comment Print

Despite the fact that MSTs are highly subsidized, Ministry of Railway has now decided to modify the fair revision circular and hence a decision has been taken to increase the cost of existing MST fare by only 14.2% inclusive of FAC, i.e., the Monthly Season Tickets for both suburban and non-suburban shall now be charged at 14.2% over the existing rates rounded off as per extant instructions.

Implications of reporting incorrect Deductees /PAN in TDS Statements & delayed correction

June 25, 2014 4571 Views 0 comment Print

Many deductor file TDS filed correction statements, which include updations from Valid to Valid PANs, after a significant delay of over an year. Such delayed correction are liable for penalty and other consequences. We have listed below the Implications and action to be taken by deductor to avoid such mistakes.

Implications of reporting Invalid/ Not Available PANs in TDS Statements & Actions to be taken

June 25, 2014 2841 Views 0 comment Print

Many deductor submit Invalid / Not Available PANs in the Quarterly TDS Statements filed by them. We have listed below the Implications of reporting Invalid/ Not Available PANs in TDS Statements and actions to be taken by deductors to avoid such mistakes in TDS returns/ Correct statement to be filed by them.

Budget Session of Parliament to commence from 7th of July

June 25, 2014 652 Views 0 comment Print

The Budget Session of Parliament will commence from 7th of next month. A press communiqué issued by the Rajya Sabha Secretariat states that subject to exigencies of business, the Session is scheduled to conclude on Thursday, the 14th of August, 2014. Source– Press Release dated 24.06.2014 by Ministry of Parliamentary Affairs Dates of First Rail […]

Govt extends excise duty concession on Motor Car and Capital Goods

June 25, 2014 1526 Views 0 comment Print

The Finance Minister Shri Arun Jaitley said that we expect the industry to show positive results in the coming months. The Finance Minister said that we also expect that the benefit of these duty concessions will be passed on to the consumers at large.

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