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MCA stops Challan, NEFT and Pay Later payment facility till 31st March 2014

March 26, 2014 2453 Views 0 comment Print

Offline payment facility (Challan, NEFT and Pay Later) would be stopped from 26th March 2014 till 31st March (both days inclusive). You are requested to make payment only through online mode (Credit/Debit Card and Net Banking).

How to open a Savings Bank Account?

March 26, 2014 1373 Views 0 comment Print

Choose a Bank that has a wide network of branches, ATMs and offers an array of services. You can look up the bank’s website to find the information. Choose an account most suitable to your needs. It could be a Basic Savings account, EasyAccess Accounts, Women’s Savings Account, Youth Account, or a Joint savings account.

ICAI issues Roadmap to IFRS

March 26, 2014 2709 Views 0 comment Print

The Council of the ICAI, at its last meeting, held on March 20-22, 2014, has finalised the roadmap.  The revised roadmap recommends Ind AS to be implemented for the preparation of Consolidated Financial Statements of listed companies and unlisted companies having net worth in excess of Rupees 500 crore from the accounting year beginning on […]

Scheme of raising ECB for working capital for Civil Aviation Sector to continue till March 31, 2015 – RBI

March 26, 2014 580 Views 0 comment Print

The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals required, if any, under any other law.

Govt. Fixes limit for investment in Inflation Indexed National Savings Securities

March 26, 2014 1250 Views 0 comment Print

Government of India has vide their Notification dated March 25, 2014 notified that the maximum limit for investment in Inflation Indexed National Savings Securities- Cumulative has been increased to Rs. 10 lakh per annum for eligible individual investors and Rs. 25 lakh per annum for Institutions such as HUFs, Charitable Trusts, Education Endowments and similar institutions

Banks and RBI to facilitate Tax Payments on March 29, 30 and 31, 2014

March 26, 2014 2131 Views 0 comment Print

Agency banks doing Government business alone will be permitted to present instruments in the Special Clearing on other participating banks. Other member banks of the Clearing House (including the presenting banks) are required to keep their inward clearing processing infrastructure open during the Special Clearing hours and maintain sufficient balance in their clearing settlement account to meet settlement obligations arising out of the Special Clearing.

PVAT – Further amendments in items taxable at single stage under Punjab VAT

March 25, 2014 720 Views 0 comment Print

Whereas the State Government is satisfied that circumstances exist, which render it necessary to take immediate action in public interest; Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005)

Clarification with regard to section 180 of Companies Act, 2013

March 25, 2014 8923 Views 0 comment Print

This Ministry has received many representations regarding various difficulties arising out of implementation of section 180 of the Companies Act, 2013 with reference to borrowings and/or creation of security, based on the basis of ordinary resolution. The matter has been examined in the Ministry and it is hereby clarified that the resolution passed under section 293 of the Companies Act, 1956 prior to 12.09.2013 with reference to borrowings.

MVAT – Dealers to file Annexures J1 and J2 before submitting Return for the period starting from 01-04-2014

March 25, 2014 214403 Views 38 comments Print

This circular is being issued to facilitate dealers to make necessary changes in their systems so as to accustom them to file annexures and returns by the due dates she filing of annexures of sales and purchases has been proposed to be made mandatory soon.

Checklist of applicable sections- Private Limited Company- Companies Act 2013

March 25, 2014 66518 Views 0 comment Print

With 99 sections of Companies Act, 2013 already notified and more to follow in the near future, it’s time for private companies in India to get started with the understanding of the Act and the possible implications, it can have on the functioning of their Companies, more so when we know that the new Act is rigid on private companies.

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