WHY A NEW LAW WAS NEEDED? The changing national and international economic environment Exponential growth of the Indian economy Changes in the stakeholders’ expectations Manifold Increase in Number of Companies Year No. of Companies 1956 30,000 approx 2013 11,00,000 approx The need of a legal framework was felt to enable the Indian corporate sector to […]
In the said case, the respondent was a publisher of books but did not have a printing press. He would procure manuscripts, hit upon a suitable format, get it printed from third parties under his supervision, get the book bound and put it out for sale.
The Assessing Officer had noticed that grant of Rs.35 crores was sanctioned by the Government in the said year to improve air connectivity in North-Eastern Region. The respondent-assessee had taken on lease four ATR-42-320 aircrafts for five years from Ms/ Aviande Transport Regional
CMA Suresh Chandra Mohanty, President, Institute of Cost Accountants of India, congratulated the Hon’ble Union Minister of Corporate Affairs, Shri Sachin Pilot ji and his team for their unstinted efforts in reforming the corporate legislation in tune with global reality and the Indian economy. The new legislation will ensure impetus for the growth momentum as […]
The Intermediate and Final Results for June 2013 Term Examination results are likely to be declared on August 23, 2013 Afternoon. For convenience of the students the online results would be available on the following servers: 1. http://examicai.in (Intermediate and Final Results ) 2. http://examicmai.in (Final Results only) 3. http://examicmai.org (Intermediate Results Only) Source- http://icmai.in/
Attention is invited to provisions of Handling of Cargo in Customs Area Regulations (HCCAR), 2009 which deals with the manner of receipt, storage, etc of import and export goods in a Customs Area.
Company, whose Audit Report is stated to have been prepared by respondent No.1 contrary to the prescribed norms, has not made any complaint against respondent No.1. One of the Directors of the Company, namely, Vipan Gupta, appeared before the Disciplinary Committee as a witness but he did not state a word about the aforesaid Audit Report.
In order to reduce the increasing number of transfer pricing audits and prolonged disputes, the Finance (No.2) Act, 2009 w.r.e.f 1.4.2009 inserted a new section 92CB to provide that determination of arm’s length price under section 92C or Section 92CA shall be subject to safe harbour rules. Vide this amendment, the Government of India had empowered the CBDT to make Safe Harbour rules. Safe harbour was defined to mean circumstances in which the income-tax authorities shall accept the transfer price declared by the assessee.
Companies Bill, 2013 was passed by Lok Sabha on the 18th December, 2012 and transmitted to Rajya Sabha for its concurrence. Rajya Sabha passed the Bill with amendments at its sitting held on the 8th August, 2013 and returned it to Lok Sabha on the 12th August, 2013. On 13 August 2013, the Lok Sabha […]
The department has started following website to update the information of auditors of Co-Operative societies and Banks The link for uploading the information is as follows https://mahasahakar.maharashtra.gov.in “The Date of Uploading the Information by the Auditors about the Data required by the Maharashtra Co-operative Department has been extended to 20th August, 2013.
