incorporation

Incorporation of Companies in Dubai

Corporate Law - Incorporation procedure in UAE is a simple step by step process and does not require endless visits to a lawyer at every juncture of company formation. The procedures for incorporation in UAE are recognized to be a legal one and it includes the registration of company name and licensing of business activity....

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ROF Forms, Documents, Fees & Penalties for Partnership Firm in Maharashtra

Corporate Law - Law Related to Formation of Partnership Firm in Maharashtra is contained in Indian Partnership Act 1932 and in Maharashtra Partnership Rules 1989.  Fees for Various form to be filled with  Registrar of Firms Maharashtra was lat amended by Fees Notification 2014 dated 10.02.2014. In this Article we have discussed   Some Important Tips ...

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Company Law Board – National Company Law Tribunal – An Analysis

Corporate Law - We all know about the dispute resolution mechanism under the provisions of Companies Act, 1956. Till 2002 amendments to the Companies Act, 1956, significantly, the dispute resolution mechanism was vested with the Company Court and the Company Law Board. Company Court is nothing but High Court having jurisdiction to entertain certain compa...

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Company Law in India – A Brief

Corporate Law - In view of the vastness of the subject, the complications and listening at many of my colleagues, I have decided to present a small brief on Companies to be formed under the provisions of Companies Act, 1956, the difference between Private Limited and Public Limited Companies, the applicable law and also the complications. I know the vast...

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Sebi notifies rules for delisting of shares from Stock Exchange

Corporate Law - The market regulator securities and exchange board of India (Sebi) has notified the Sebi (Delisting of Equity Shares) regulations, 2009 vide Notification No. LAD-NRO/GN/2009-2010/09/165992 Dated : 10th June 2009, which would govern the normal guidelines to be followed by a company for delisting its shares from a stock exchange. According ...

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Budget 2010 may have anti-avoidance provisions to check evasion of tax

Corporate Law - The forthcoming Union budget may have an anti-avoidance provision, which can effectively check convoluted transactions devised exclusively for the purpose of evading paying taxes in India. The finance ministry, said revenue department officials, is contemplating the idea of vesting powers with the commissioners of Income-tax (I-T) to decl...

Read More

Area limit of 5,000 hectares will not applicable for SEZs if two or more such zones are merged

Corporate Law - NEW DELHI: The government has decided not to apply an area limit of 5,000 hectares for special economic zones (SEZs) if two or more such zones are merged, clearing the way for big SEZs in the country. In an amendment to the SEZ rules, the government has also allowed developers more freedom on selecting the […]...

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Now CS, Cost Accountant and Others Can Be a Partner with CA

Corporate Law - Institute of Chartered Accountants of India has issued a notification no. Na.1-CA(7)/116/ 2008 dated 25-9-2008 incorporating various amendment to the Chartered Accountants Regulations, 1988.There are 16 amendments to the regulations. One of the major amendments is provisions relating to multidisciplinary partnership firm....

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Three words enough to access your tax records – beware

Corporate Law - If you are thinking of filing your income tax returns online, think twice. It is very easy for anyone to hack into your account and have access to your income tax details. All a hacker needs to know is - 1. Your name 2. Permanent account number (PAN) and 3. Your date of birth. He first needs to log onto the e-filing website (www.incometa...

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If a trust fulfills all conditions of section 12A/12AA, registration cannot be denied on ground that some conditions of section 11 and 12 not fulfilled

CIT Vs Krishi Utpadan Handi Samiti (Allahabad High Court) - Assessees who fulfill all the conditions are entitled to registration cannot be faulted. The contention of the Revenue that the assessees are not registered as an institution and hence not entitled for registration is also without any merit, because, there is no requirement under the Act that an ins...

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Interpretation of the words "manufacture or production" for the purpose of deduction U/s. 10B

ITO Vs E-Infochips Ltd. (ITAT Ahmedabad) - In view of the foregoing, we are in agreement with the findings of Id. CIT(A) that activities undertaken by the taxpayer were in respect of production and export of computer software within the meaning of provisions of section 10B of the Act, especially when the AO himself concluded so for the purpo...

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Advance Ruling on nature of receipts derived by an Australian company from ONGC

Worley Parsons Services Pty. Ltd., In re (Authority for Advance Rulings- Income Tax) - 3. The applicant contends that the services under various contracts except contract no. 5 cannot be brought within the sweep of `royalties' as defined in Art. XII.3 of the Double Taxation Avoidance Agreement (hereinafter referred to as `DTAA' or `Treaty'), that there was no permanent establishment i...

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Concessional ticket to travel Agents cannot be termed as commission

CIT Vs. Singapore Airlines Ltd. (Delhi High Court) - 12. In order to come to a definite conclusion whether section 194H of the Act would be applicable to the assessee-airline in respect of transaction, in issue, we propose to first look at the scope and ambit of section 194H of the Act and then analyse the transaction as to whether it falls within the...

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AAR on Allowability of deduction U/s. 36(1)(viii) / 36(1)(viiia) of IT Act claimed by a Government company

Rural Electrification Corpn. Ltd., In re (Authority for Advance Rulings, New Delhi) - 5. It would be appropriate to reproduce section 36(1)(viii) of the Act as it stood in the relevant assessment years i.e. A.Y.1997-98 in the following terms: - Section 36(1)(viii) : as it stood in the statute during the A.Y.(1997-98) 36(1) – The deductions provided for in the following clauses sha...

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Sebi notifies rules for delisting of shares from Stock Exchange

Notification No. LAD-NRO/GN/2009-2010/09/165992 - (10/06/2009) - The market regulator securities and exchange board of India (Sebi) has notified the Sebi (Delisting of Equity Shares) regulations, 2009 vide Notification No. LAD-NRO/GN/2009-2010/09/165992 Dated : 10th June 2009, which would govern the normal guidelines to be followed by a company for delisting its ...

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Assessment of Banks – Allowance of deduction to rural branches

10/2008 - (31/07/2008) - While computing the income under the head 'Profit and Gains of Business & Profession' a scheduled bank (not being a bank incorporated by or under the laws of a foreign country) or a non-scheduled bank or a cooperate bank other than a primary agricultural credit society or a primary co-operative agri...

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Recent Posts in "incorporation"

Incorporation of Companies in Dubai

Incorporation procedure in UAE is a simple step by step process and does not require endless visits to a lawyer at every juncture of company formation. The procedures for incorporation in UAE are recognized to be a legal one and it includes the registration of company name and licensing of business activity....

Read More
Posted Under: Income Tax |

ROF Forms, Documents, Fees & Penalties for Partnership Firm in Maharashtra

Law Related to Formation of Partnership Firm in Maharashtra is contained in Indian Partnership Act 1932 and in Maharashtra Partnership Rules 1989.  Fees for Various form to be filled with  Registrar of Firms Maharashtra was lat amended by Fees Notification 2014 dated 10.02.2014. In this Article we have discussed   Some Important Tips ...

Read More
Posted Under: Income Tax |

Company Law Board – National Company Law Tribunal – An Analysis

We all know about the dispute resolution mechanism under the provisions of Companies Act, 1956. Till 2002 amendments to the Companies Act, 1956, significantly, the dispute resolution mechanism was vested with the Company Court and the Company Law Board. Company Court is nothing but High Court having jurisdiction to entertain certain compa...

Read More
Posted Under: Income Tax |

If a trust fulfills all conditions of section 12A/12AA, registration cannot be denied on ground that some conditions of section 11 and 12 not fulfilled

CIT Vs Krishi Utpadan Handi Samiti (Allahabad High Court)

Assessees who fulfill all the conditions are entitled to registration cannot be faulted. The contention of the Revenue that the assessees are not registered as an institution and hence not entitled for registration is also without any merit, because, there is no requirement under the Act that an institution...

Read More

Budget 2010 may have anti-avoidance provisions to check evasion of tax

The forthcoming Union budget may have an anti-avoidance provision, which can effectively check convoluted transactions devised exclusively for the purpose of evading paying taxes in India. The finance ministry, said revenue department officials, is contemplating the idea of vesting powers with the commissioners of Income-tax (I-T) to decl...

Read More
Posted Under: Income Tax |

Company Law in India – A Brief

In view of the vastness of the subject, the complications and listening at many of my colleagues, I have decided to present a small brief on Companies to be formed under the provisions of Companies Act, 1956, the difference between Private Limited and Public Limited Companies, the applicable law and also the complications. I know the vast...

Read More
Posted Under: Income Tax |

Sebi notifies rules for delisting of shares from Stock Exchange

Notification No. LAD-NRO/GN/2009-2010/09/165992 (10/06/2009)

The market regulator securities and exchange board of India (Sebi) has notified the Sebi (Delisting of Equity Shares) regulations, 2009 vide Notification No. LAD-NRO/GN/2009-2010/09/165992 Dated : 10th June 2009, which would govern the normal guidelines to be followed by a company for delisting its shares from a stock exchange. According ...

Read More

Step in incorporation of LLP

A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members (partners) the flexibility or organizing their internal structure as a partnership. The LLP shall be a body ...

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Posted Under: Income Tax |

Area limit of 5,000 hectares will not applicable for SEZs if two or more such zones are merged

NEW DELHI: The government has decided not to apply an area limit of 5,000 hectares for special economic zones (SEZs) if two or more such zones are merged, clearing the way for big SEZs in the country. In an amendment to the SEZ rules, the government has also allowed developers more freedom on selecting the […]...

Read More
Posted Under: Income Tax |

Interpretation of the words "manufacture or production" for the purpose of deduction U/s. 10B

ITO Vs E-Infochips Ltd. (ITAT Ahmedabad)

In view of the foregoing, we are in agreement with the findings of Id. CIT(A) that activities undertaken by the taxpayer were in respect of production and export of computer software within the meaning of provisions of section 10B of the Act, especially when the AO himself concluded so for the purpose of section 80HHE of the Act. We are a...

Read More
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