With a view to rationalize / harmonize different routes for foreign portfolio investments, SEBI had decided to create an unified and simplified regulatory framework. In order to adopt a consultative approach, SEBI had constituted a Committee on Rationalization of Investment Routes and Monitoring of Foreign Portfolio Investments comprising of various stakeholders.
Reliance in this regard can be placed on the decision of Hon’ble Delhi High Court in case of CIT v Kultar Exports [TS-315-HC-2014(DEL)] pronounced on 23-05-2014 wherein the assessee has claimed deduction for the AY 2001-04 under Section 80HHC which provides deduction to the exporters.
Feedback – Observations of the candidates on the question papers of CA examinations-May 2014. – (01-06-2014) 31st May 2014 It has been decided to introduce a mechanism to obtain the feedback of the candidates who appear in the CA examinations, on the question papers in CA examinations, with effect from May 2014 examinations.
Recent Issue under Service Tax-Amnesty Scheme 2013- Whether it can be said that Audit was pending as on 01.03.13, if Audit Para was not determined and/ liability was also not quantified till 01.03.13
Reliance in this regard can be placed on the decision of Hon’ble Tribunal (Agra) in case of Rajeev Kumar Agarwal vs CIT (ITA No. 337/Agra/2013) pronounced on 29th May 2013 wherein the AO disallowed interest payments made without deducting TDS under Section 194A of the Act.
We have uploaded on our website following charts under Companies Act, 2013 compiled by Mr.PC Agrawal. Link to download the same are as follows Exemptions – Privileges Available To Private Companies Matters which require ordinary resolutions under Companies Act 2013 Matters which require special resolutions under Companies Act 2013 Powers of the Board which can […]
Admit cards in respect of all candidates admitted to the Common Proficiency Test (CPT) June 2014 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website. For downloading/printing of the admit cards, candidates will have to enter the following details on the site:
Section 68 of the companies act 2013 and Companies (Share capital and Debentures) Rules,2014 deals with the power of company to purchase its own securities.
Of late, there has been an increase in the number Non-Performing Assets (NPAs) in Public Sector Banks (PSBs). These are being reported not only at the bigger branches but also at the smaller ones. ICAI, as a partner in nation building, is deeply concerned about safeguarding the Government & public interest in PSBs.
Notification No. 28/2014-Income Tax S.O. 1418(E).─In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- (1) These rules may be called the Income-tax (6th Amendment) Rules, 2014.
