Section 233 of Act (erstwhile no corresponding provisions in CA 1956) has been newly notified/inserted on 15th Dec, 2016. It talks about Fast track Merger or Amalgamation b/w between two or more small companies or between a holding company
A company proposing to reduce its share capital is required to take the following procedural steps: 1. Ensure that its articles of association contain a provision authorizing reduction of share capital.
In Employees’ State Insurance (Central) Rules, 1950, in rule 50, for words fifteen thousand rupees occurring at both places, words twenty one thousand rupees shall be substituted.
Government of Maharashtra added IDFC Bank for Bank Guarantee under rule 61 of Maharashtra Value Added Tax Act, 2005 with effect from 22nd December, 2016
Launch of Income Tax Business Application (ITBA) – Administrative Functions Module Phase-4 (Empanelment of Special Auditor and Standing Counsel) – Reg.
Functionality of filing of online returns for Exempted Establishments is currently integrated in ECR Portal and said portal will be stopped in current month.
Queries have been received by the Board about the scope of the indirect transfer provisions. In this regard, the Board constituted a Working Group on 15th June, 2016 to examine the issues raised by stakeholders.
The provisions relating to determination of time for supply of goods has been significantly amended and is discussed in detail as follows
The employer i.e. ONGC has paid fringe benefit u/s 115WA of the Act to the employee and thus, the employee was not bound to pay tax on the aforementioned expenses, as a part of his salary.
RBI has removed following conditions on deposit of cash in demonetised Old Notes of Rs. 500 and Rs. 1000 in bank account, which has been put by its Circular dated 19.12.2016
