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Limited Liability Partnership (LLP) – All you want to know

June 11, 2014 214569 Views 28 comments Print

CA Nitesh Kumar More What is LLP? LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. […]

Custom Superintendent from Chennai jailed in disproportionate assets case

June 11, 2014 1184 Views 0 comment Print

TWO YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS. 20,000/- TO THEN SUPERINTENDENT OF CUSTOMS FOR ACQUIRING DISPROPORTIONATE ASSETS           The Special Judge for CBI Cases, Chennai has convicted Shri B. Pugazhenthi, then Superintendent of Customs, Chennai and sentenced him to undergo two years Rigorous Imprisonment with fine of Rs. 20,000/- in a disproportionate assets case.

RBI advises Information System(IS) Audit for Urban Cooperative Banks

June 11, 2014 3986 Views 0 comment Print

UCBs may adopt an IS audit policy, if not already done, appropriate to its level of operations, complexity of business and level of computerization and review the same at regular intervals in tune with guidelines issued by RBI from time to time.

Notification No. 7/2014-Income Tax Dated 10/6/2014

June 10, 2014 1183 Views 0 comment Print

Notification No. 7/2014-Income Tax In partial modifications of earlier Notification No. 1 of 2013(F.No.A­32012/6/ 2012-Ad.VI) dated 15t January, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect

Notification No. 10/2014-Income Tax Dated 10/6/2014

June 10, 2014 1996 Views 0 comment Print

Notification No. 10/2014-Income Tax In partial modifications of earlier Notification No. 04 of 2014(F.No.A­32012/ 2/ 2013-Ad.VI) dated 3rd March, 2014, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600­39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect

Notification No. 8/2014-Income Tax Dated 10/6/2014

June 10, 2014 589 Views 0 comment Print

Notification No. 8/2014-Income Tax In partial modifications of earlier Notification No. 7 of 2013(F.No.A­32012/6/2012-Ad.V1) dated 2l October, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect

Then JCIT from Patiala (Punjab) convicted in corruption case

June 10, 2014 1220 Views 0 comment Print

THEN JOINT COMMISSIONER OF INCOME TAX SENTENCED THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS. 20,000/- IN A CORRUPTION CASE CBI Press Release- New Delhi, 10.06.2014           The Special Judge, CBI Cases, Patiala (Punjab) has convicted Shri R.L. Channalia, the then Joint Commissioner, Income Tax, Amritsar (Punjab) and sentenced him to undergo three Years Rigorous Imprisonment […]

Resident Director of Foreign Companies to Submit PAN at the time of Incorporation

June 10, 2014 3236 Views 0 comment Print

That I undertake to furnish to the Registrar of Companies (mention jurisdiction) details of my PAN as soon as a Permanent Account Number is allotted to me.

Direct Tax updates – Recent Judgements – From Courtroom

June 10, 2014 6420 Views 0 comment Print

30 days share-holding period, a yardstick distinguishing between business income & STCG: ITAT rules that profit on sale of shares held for less than 30 days should be treated as ‘business income’ and if held for more than 30 days should be treated as STCG;

Decoding Of Charges under Companies Act, 2013 With Rules Framed Thereunder

June 10, 2014 17653 Views 0 comment Print

Charges denotes the security on the assets given to ensure the repayment of the loan etc. and sometimes is a pre-requisite conditions imposed by the granter to avail the said facility. It may on the present or future assets of the company.

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