First requirement to claim of additional depreciation is that there should a new machinery or plant. A machinery is new till it is first put to use. Once it is used, it is no longer a new machinery. Admittedly, the machinery, on which additional depreciation has been claimed, was already used in various preceding previous […]
Since years, its been policy of Central as well as State governments to provide tax incentives for operating in specified areas, mainly in north and north-eastern States under various schemes.
S.O. 3453(E).— In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 15th November, 2016 as the date on which the provisions of the following sections of the said Code shall come into force
Government of India has decided to extend the time limit for submission of Annual Life Certificates upto 15th January, 2017 for convenience of pensioners/family pensioners.
Revision in the procedure of cancellation and refund of value of Rs. 5,000/- and above for the PRS counter tickets booked from 16.11.2016 to 24.11.2016.
With effect from December 1, 2016 the taxability of Online Information and Database Access or Retrieval (‘OIDAR’) services shall undergo a complete change.
Company can claim to be small company as per Act on fulfilling the following provisions: 1) Company should be Private Limited 2) Paid Up capital should not be more than Rs. 50 Lakh 3) Turnovers should not exceed more than Rs. 2 cr
Maharashtra Value added tax dealers may also pay the amount under clause (a), during the period the bank notes of existing series of denomination of the value of five hundred rupees and one thousand rupees
Probable Reasons as to why the new Rs. 2,000 notes are being issued and actions already being taken before demonetization:
Initial conditions to be satisfied : 1. Minimum having seven partners, 2. Minimum share capital for private limited is Rs. 1,00,000, 3. No. Of directors shall be 2 or more., 4. Provision contained under section 47(xiii) needs to be adhered and the same is reproduced as below :
