CA Pratik Anand - Page 4

TDS on sale of Immovable Property- Beware CPC TDS issuing intimation for late deposit of TDS

In its latest move to penalise late payers of TDS, the CPC TDS has started issuing intimation u/s 200A of the Income Tax Act’1961 to the deductors u/s 194IA i.e the buyers of property who have paid TDS U/s 194IA late. The CPC TDS is not only charging interest u/s 201 but also late fee u/s 234E of the Act....

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Posted Under: Income Tax | ,

Defunct Company or inactive companies-Fast Track Exit Scheme or Dormant status

The procedure to close down is dealt with by section 560 of the Companies Act’1956. The sections which deal with the closure of companies under the Companies Act’2013 have not yet been notified therefore the procedure to be followed is that given in section 560 of Companies Act’1956....

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Posted Under: Income Tax |

TDS on sale of Immovable Property by Non-resident

CA Pratik Anand Recently I was asked a question by someone that at what rate tds is to be deducted at the time of purchasing a property in India from a non-resident. The answer to the question lies in the simple reading of the Income Tax Act’1961. Let us examine the relevant Sections of the […]...

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Posted Under: Income Tax | ,

DVAT- Resolve mismatch in Annexures 2A and 2B

The time-limit for revising the returns under the DVAT Act for the financial year 2013-14 Is 31st March’2015 after the amendment in the DVAT Act in 2012 wherein the period prescribed for revising the return under DVAT Act is within financial year following the end of the financial year of tax period to which the original return relates ...

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Posted Under: Income Tax |

How to Change registered office under Companies Act, 2013

Notice of every change in the registered office of the company is to be filed with the ROC in form INC-22 within 15 days of such change. For the purpose of verification of the situation of the registered office or the verification of change in the registered office of the company, the Govt. has prescribed rule 25 & 27 of the Companies (In...

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Posted Under: Income Tax |

Issue of shares under Companies Act’2013 by Private Limited Companies

1) Methods of issue of shares: A) Private Placement (Section 42 of the Companies Act'2013, Rule 14) B) Preferential allotment/Preferential offer C) Right Issue D) Conversion of Loan/Debentures into shares. E) Bonus issue...

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Posted Under: Income Tax | ,

Auditor Resignation, Compliance & Filing of ADT-3 form

CA Pratik Anand Form ADT-3 is to be filed for resignation by auditor from the company as an auditor within 30 days of resignation. E Form ADT-3 is required to be filed pursuant to Section 140(2) of the Companies Act, 2013 and Rule 8 of the Companies (Audit and Auditors) Rules, 2014 which are reproduced […]...

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Posted Under: Income Tax | ,

Reversed Cenvat credit can be re-taken even after six months

The CBEC has issued circular No. 990/14/2014-CX-8 dt. 19/11/2014, wherein it has clarified that the cenvat reversed or amount paid for reversal in respect of cenvat credit wrongly availed where the conditions relating to availment of cenvat credit were not fulfilled, can again be claimed as input credit on the fulfilment of prescribed con...

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Posted Under: Income Tax |

Filed GNL-2 for Auditor appointment-Resubmission mail by MCA

Most of the Companies Filed form ADT-1 as an attachment with form GNL-2 before the e-form ADT-1 was made available by the MCA. Since the Form GNL-2 had no mandatory attachments and also there was no information about the attachments to Form ADT-1, most of the Companies only filed form ADT-1 as an attachment to form GNL-2 and did not file ...

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Posted Under: Income Tax | ,

DVAT Dealers-Only online objections to be filed now onwards

In a recent change under the Delhi VAT, Objections against any order of the Assessing Officer will only be filed online and manual objections which are not generated from the system will not be accepted. New Procedure for filing objections in DVAT ...

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Posted Under: Income Tax |

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