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;
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.
As per this circular, PAN is compulsory for a Foreign National who is a subscriber / promoter at the time of incorporation of the company. However, if the Foreign National does not possess a PAN, then he / she is required to furnish a declaration / undertaking in prescribed format as an attachment to Form INC – 7 at the time of incorporation of the company.
In this connection, it is hereby clarified that registers maintained by companies pursuant to sub-section (5) of Section 372A of Companies Act, 1956 may continue as per requirements under these provisions and the new format prescribed vide Form MBP2 shall be used for particulars entered in such registers on and from 1.4.2014.
The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.
Henceforth, customers may submit only one documentary proof of address (either current or permanent) while opening a bank account or while undergoing periodic updation. In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address may be submitted to the branch within a period of six months.
Appointment of Company Secretaries in companies not covered under rule 8.—A company other than a company covered under rule 8 which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary.
2. However, it is observed that certain officers are visiting CBDT personally only for submitting the proposals to the Board and that too without any prior intimation. The undersigned is directed to convey that such visits not only result in wastage of time of officers but also lead to undesirable expenditure incurred on tour. It is reiterated that the proposals and the requisite information may strictly be sent by post
The matter has been examined. In view of the specific provisions of Schedule IV, appointment of ‘IDs’ under the new Act would need to be formalized through a letter of appointment.
Section 115JB, with which we are concerned, is a self-contained code pertaining to MAT, which imposed liability for payment of advance tax on MAT companies and, therefore, where such companies defaulted in payment of advance tax in respect of tax payable under Section 115JB
