In view of the suggestions received from the stakeholders to give transitional period for complying with the deposit insurance requirements, the amendment in the relevant rule has been made allowing companies to accept deposits without deposit insurance for one year i.e. till 31.03.2015.
Notification No. 30/2014-Income Tax Whereas, an agreement (hereinafter referred to as the said agreement) between the Government of the Republic of India and the Government of the Principality of Liechtenstein, for the exchange of information on tax matters was signed at Berne, Switzerland on the 28th day of March, 2013
The amendment brought in by the Finance Act with retrospective effect, which was passed in the year subsequent to the year under consideration, should not be considered for penalizing the assessee by way of disallowance u/s 40(a)(ia) of the Act.
We are uploading herewith a chart showing provisions relating to disclosure of interest by directors and Key Managerial Persons (KMPs) under section 184(1), 184(2), 189(2) of Companies Act, 2013 read with Rules 9 & 16 of Chapter XII – The Companies (Meetings of Board and its Powers) Rules, 2014 at a glance which could be useful to all.
The section 185 of Companies Act,2013 was notified on 12th September 2013 and was applicable from that day itself. If there is any deviation from the conditions laid under this section then the Auditor is required to report the same in his Audit Report. A non qualified report would hold auditor in default.
There is a general conception that if subsidiary co do not utilize loan given by its holding co for its principal business, provisions of sec 185 is attracted each & every time. In other words, if loan given or guarantee given or security provided by holding co to its subsidiary is not exempted by the Rule 10 of the Companies (Meetings of Board and its Powers) Rules, 2014, Sec 185 is violated.
Section 120 of the Companies Act,2013 and Companies (Management and Administration)Rules,2014 deals with the Maintenance and Inspection of documents in electronic form.
CA Sandeep Kanoi It its pre-budget memorandum ICAI has submitted following recommendations related to wealth tax :- Taxable Wealth – to exempt motor cars – The amendment in the definition of “assets” was made by the Finance Act, 1992 with a view to promote investment in productive assets. In line with intention of the lawmakers, […]
Arun Jaitley to hold pre-budget consultations from tomorrow Pre-Budget consultations will kick off from today. In this exercise, Finance Minister Arun Jaitley will hold meeting with different stakeholders including, representatives of industry chambers, trade unions, financial services sector and state finance ministers to get sector-specific suggestions for the Budget. Today, Mr. Jaitley will hold meeting […]
46 new e-forms had been made available for filing w.e.f. 28.04.2014. In case there is any issue faced by stakeholders in filling up or filing any of these 46 e-forms, they are requested to raise ticket with MCA helpdesk by using link www.mca.gov.in/MinistryV2/complaints.html. In addition to describing the problem in the ticket they should also […]
