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SC passes Costliest Bail Order in the case of Subrata Roy

March 28, 2014 1322 Views 0 comment Print

Sahara group will have to pay Rs 10,000 crore to get interim bail for its Chief Subrata Roy and firm’s two directors, who are behind the bars since March four, the Supreme Court on Wednesday ordered. A bench of justices K S Radhakrishnan and J S Khehar said that interim bail will be granted only […]

FEMA – Merchanting Trade Transactions – Revised guidelines

March 28, 2014 3963 Views 0 comment Print

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular Nos.106 & 4 dated June 19, 2003 and July 19, 2003 respectively, containing directions relating to merchanting trade transactions. Further, in terms of A.P. (DIR Series) Circular No. 95 dated January 17, 2014 the existing guidelines were reviewed in the light of the recommendations of the Technical Committee on Services / Facilities to Exporters (Chairman: Shri G. Padmanabhan) to further liberalise and simplify the procedure.

Removal of difficulties regarding certification of Annual Return

March 28, 2014 2841 Views 0 comment Print

Order proposed to be issued under section 470 of the Companies Act, 2013. MINISTRY OF CORPORATE AFFAIRS ORDER New Delhi, the 2014 S.O. _____ (E) Whereas the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act) received the assent of the President on 29th August, 2013 and section 1 thereof came […]

Legal profession is not business or trade – SC

March 28, 2014 45596 Views 0 comment Print

The legal profession is a noble profession. It is not a business or a trade. A person practising law has to practise in the spirit of honesty and not in the spirit of mischief-making or money-getting. An advocate’s attitude towards and dealings with his client has to be scrupulously honest and fair.

MCA notifies dates from which Various new Forms to come into effect

March 28, 2014 6796 Views 0 comment Print

There are 5 general e-forms and 2 e-forms mentioned in Table “D” will be available for filing w.e.f. 28/04/2014 will be available for filing 24 notified forms/events which will be made available for individual e-filing at a later date, can be attached with these 7 e-forms and filed. Details of physical forms allowed to be filed along with general e-forms are attached with this Circular.

MCA Enables Online payment of stamp duty for issue of certified copies

March 28, 2014 5845 Views 0 comment Print

The Ministry has reviewed the process of issue of certified copies of the documents filed with the Registrar of companies. As per the existing process, in case a User applies for the certified true copy of any document, he needs to pay MCA fee online at MCA portal. The fee is computed based on the number of documents required.

CBDT notifies undertaking of ‘ Creative Infocity Ltd.’ as an industrial park u/s. 80IA

March 27, 2014 610 Views 0 comment Print

Notification No. 22/2014-Income Tax And, whereas, in consequence to the same, the Central Government (Ministry of Finance, Department of Revenue, CBDT) in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as the ‘Act’) had notified the said undertaking being developed and being maintained and operated by M/s Creative Infocity Ltd. as an Industrial Park for the purposes of the said clause (iii), vide notification of the Government of India in the Ministry of Finance, Department of Revenue, vide No. S. O. 1121, dated the 22nd of March 2012 published in the Gazette of India, Part II, section 3, sub-section (ii)

CBDT notifies undertaking of ‘Finest Promoters Private Ltd.’ as an industrial park u/s. 80IA

March 27, 2014 853 Views 0 comment Print

Notification No. 21/2014-Income Tax And, whereas, the Central Government (Ministry of Finance, Department of Revenue, CBDT), in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961),(hereinafter referred to as the ‘Act’) had notified the undertaking being developed and being maintained and operated by M/s. Finest Promoters Private Ltd., New Delhi at Khasra No.1961/2 and 1962/1, Sector 54, Taluka Gurgaon, District Gurgaon, as an Industrial Park for the purposes of the said clause (iii), vide notification of the Government of

Landlord PAN Mandatory for Rent Over 1 lakh P.A.

March 27, 2014 8186 Views 0 comment Print

Any salaried person would have heard of a term called HRA (House Rent Allowance). It not only gives benefit in the form of allowance but also gives an opportunity for tax exemption up to a certain limit. Almost every salaried employee takes this benefit. IT department also provides the facility of claiming tax benefit on HRA for […]

Get a preventive health check-up done and save on tax too!

March 27, 2014 10550 Views 5 comments Print

The government provides tax deduction benefit of upto INR 5,000 under Section 80D on account of preventive health check-up for self, spouse, dependent children and parents. However, this deduction benefit is inclusive of the overall deduction under Section 80 D (INR 15,000 per annum) for payment of health insurance premium. If one of your parents is a senior citizen, then the limit is enhanced to INR 20,000 per annum.

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