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Sec. 56(2)(viib) not applicable to startups having paid up share capital upto Rs. 10 crore

April 11, 2018 23595 Views 0 comment Print

pproval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act -A Startup being a private limited company and in conformity with the definition as per definition stipulated at Para 1(a) shall be eligible to apply for approval for the purposes of clause (viib) of sub-section (2) of section 56 of the Act, if the following conditions are fulfilled: —

Section 80TTB: Rs. 50000 deduction on interest income to senior citizen

April 11, 2018 448392 Views 118 comments Print

New section 80TTB to allow a deduction upto Rs 50,000/- in respect of interest income from deposits held by senior citizens. However, no deduction under section 80TTA shall be allowed in these cases.

New version of GSTR-4 offline tools (V2.1) is now available on GST portal

April 10, 2018 20361 Views 7 comments Print

For preparing your GSTR-4 for the 4th quarter (Jan . Mar), 2017-18, a new version of GSTR-4 offline tool (V2.1) is now available in .Download. section from 6th April 2018. Please note, that declaring inward supplies details received from the registered suppliers (other than supplies attracting Reverse Charges) under Table 4A in the offline tools of GSTR-4 is mandatory.

Food Preparations made in kitchen of Restaurant are Excisable Goods

April 10, 2018 3267 Views 0 comment Print

The appellant is aggrieved by the order dated 16/08/2017 of Commissioner (Appeals), Central Excise, New Delhi. The appellant is managing hotels and restaurants. They were providing rooms for rent and also various food items, cakes, pastries, cookies, confectionary to the customers in their restaurants.

MCA amends Tables in Schedule I related to MOA and AOA

April 10, 2018 11976 Views 0 comment Print

MCA amends Schedule I related to Memorandum of Association (MOA) & Article of Association (AOA). It amends Table F which is Articles Of Association Of A Company Limited By Shares and Table H which is Articles Of Association Of A Company Limited By Guarantee And Not Having Share Capital.

Companies (Share Capital & Debentures) Amendment Rules 2018

April 10, 2018 7914 Views 0 comment Print

Every certificate shall specify the shares to which it relates and the amount paid-up thereon and shall be signed by two directors or by a director and the company secretary, wherever the company has appointed company secretary:

Note on problems faced by Gujarat based exporters in IGST Refund Application

April 10, 2018 4917 Views 0 comment Print

Many doubts have been raised by the field formations as there is no clarity as to how the said procedure is to be dealt with. Therefore, the undersigned has discussed the issue with the Joint Secretary (Customs) and it has been informed that the exporters based in Gujarat only can approach the CGST officers deputed at Customs locations/Customs Houses for verification of the GSTR.

Privacy, data leak, data trail, strategic issues to need RBI focus on crypto currency: ASSOCHAM

April 10, 2018 642 Views 0 comment Print

Describing the RBI move to explore and examine introduction of official virtual currency in the country, the ASSOCHAM has, however, cautioned that extreme care be taken to ensure safety of the data trail that the crypto currency can leave as it changes hands through a range of electronic devices and platforms.

SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2018

April 10, 2018 1215 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2018. 2. They shall come into force on the date of their publication in the Official Gazette.

SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2018

April 10, 2018 1140 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2018. 2. They shall come into force on the date of their publication in the Official Gazette.

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