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Raise Income Tax Deduction Limit U/s. 80C – Banks tell FM

June 12, 2014 4835 Views 0 comment Print

About 72 lakh Self Help Groups(SHGs) of women promoted by NABARD be exempted from service tax for the services rendered by them to small farmers etc, tax benefit limit for health insurance be suitably raised, tax exemption under Section 80C of the Income Tax Act be raised

Provisions applicable wef 1st April 2014 under Companies Act 2013

June 12, 2014 35981 Views 0 comment Print

Appointment of Company Secretary is required the following type of Companies :- a. Listed Companies b. Public Limited Companies having paid up capital more than 10 Crores c. Companies having paid up share capital of five crore rupees or more

No dividend to be declared before set-off of carried forward losses and Short Depreciation of earlier years

June 12, 2014 3030 Views 0 comment Print

No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company of the current year

Companies Act, 2013 will create requirement of company secretaries – ICSI President

June 12, 2014 615 Views 0 comment Print

I once again reiterate that the Companies Act, 2013 would create a need based requirement of company secretaries in the light of its provisions such as registered valuers, interim administrators, enhanced penalties, enhanced disclosure requirements and so on, besides the mandates such as secretarial audit, certification of e-forms and other documents. I appeal to all our members to make use of the facilities and participate in capacity building programmes across the nation to learn the implementation of the Act effectively and to create further opportunities for ourselves.

Who are required to file ITR-2 for AY 2014-15 and mode of filing?

June 12, 2014 20645 Views 14 comments Print

Who can use this ITR-2 Return Form for Assessment Year 2014-15? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 201 4-15 includes:- (a)     Income from Salary / Pension; or (b)     Income from House Property; or (c)      Income from Capital Gains; or

Cost Inflation Index for Financial Year 2014-15

June 11, 2014 11110 Views 0 comment Print

Notification No. 31/2014-Income Tax S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income Tax Act, 1961 (42 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-

Form No. INC-27 for conversion of company from public to private

June 11, 2014 13342 Views 0 comment Print

Attention of the Ministry has been drawn to difficulties being faced by stakeholders while filing form INC-27 for conversion of a public company into a private company. The relevant provisions of Companies Act, 2013 (second proviso to sub-section (1) and sub-section (2) of section 14) have not been notified.

Regular Budget for FY 2014-15 likely to be presented in early July, 2014.

June 11, 2014 3443 Views 0 comment Print

Allocations projected in the Interim Budget 2014-15, are generally not altered. However, cases of schemes/ decisions which have the effect of raising expenditure commitments, may be sent to the Budget Division for examination. In case the additionality is agreed to by this Ministry, then revised Statements of Budget Estimates (SBEs) would need to be forwarded to Budget Division.

MGT-10 form needs to be filed physically

June 11, 2014 5615 Views 0 comment Print

stakeholders are required to fill Form MGT-10 physically, get it duly signed/ certified by a professional and file it alongwith other required enclosures as attachments with the prescribed General E-Form No. GNL-2. This temporary arrangement will continue till an E-Form for MGT-10 is made available.

Make Your Budgeting Easy With a Credit Card

June 11, 2014 2659 Views 0 comment Print

When the salary arrives, it’s time to budget. Yet, Sachin’s salary does not seem to include all the things that were required based on his lifestyle. Rather than looking at a bleak outlook at the end of the month, he ensured he had a credit card to facilitate his monthly needs. After successfully receiving his […]

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