Ministry of Corporate Affairs has identified 1,06,578 Directors for disqualification under Section 164(2)(a) of the Companies Act, 2013 as on September 12, 2017.
The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh. The provisions for Central Government employees under Central Civil Services (Pension) Rules, 1972 with regard to gratuity are also similar. Before implementation of 7th Central Pay Commission, the ceiling under CCS (Pension) Rules, 1972 was Rs. 10 Lakh. However, with implementation of 7th Central Pay Commission, in case of Government servants, the ceiling now is Rs. 20 Lakhs effective from 1.1.2016.
Before talking about the Industry or future or scope of it, it is important to analyse the trend of the market which has moved from past 20 to 30 years. Comparing the past movement in the industry across the world there is no doubt in concluding the facts that the business has been made more comfortable and easy approachable to the consumers.
To Avoid last minutes rush and system congestion on the MCA 21 Portal on Account of annual filings during the months of October and November, 2017, Companies are requested to file their financial statements and annual returns at the earliest, without postponing it to the last few days permitted for the same.
The Direct Tax collections up to August, 2017 in the current Financial Year 2017-18 continue to register a steady growth. Direct Tax collections, net of refunds, stands at Rs. 2.24 lakh crore which is 17.5% higher than the net collections for the corresponding period of the last year. This collection is 22.9% of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18.
The learned AR argued the assessee was entitled to raise additional ground of appeal before the Tribunal, even though the claim had not been made either before Income-tax Officer/AO or the First Appellate Authority. It was further argued that the additional ground of appeal raised by assessee was purely legal in nature.
Nowadays Social Media is abuzz with an Alleged Show Cause Notice for Penalty for non-issuance of Tax Invoice, issued under APGST Act, 2017 by Anantapuram Division, Dharmavaram Circle, Department of State Tax, Government of Andhra Pradesh dated 05.09.2017 by which department has proposed to levy a Penalty of Rs. 20000/- for Tax Evasion of Rs. 15. […]
GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 5/2017-Compensation Cess (Rate) New Delhi, the 11th September, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government, on the recommendations of […]
Commissioner, hereby extends the time limit for furnishing the return by an Input Service Distributor under sub-section (4) of section 39 of the said Act read with rule 65 of the Central Goods and Services Tax Rules, 2017, for the month of July, 2017 upto the 13th October, 2017.
GST Council, hereby extends the time limit for furnishing the details or return in GSTR-1, GSTR-2 and GSTR-3 for the month of July, 2017
