Income Tax : In this article, I am going to have a discussion on Section 40(a)(i) of the Income Tax Act, 1961. Which deals with disallowance of...
Income Tax : In my earlier article I have made a discussion about the disallowance when the amount is payable to a non-resident /foreign compan...
Goods and Services Tax : Section 6A of the Central Sales Tax Act, 1956 provides that in case the goods are transferred by a dealer from the state of Rajast...
Goods and Services Tax : In this article we will discuss the declaration forms that are available under RVAT Act read with Rajasthan Value Added Tax Rules...
Income Tax : Section 115JB is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable...
Punishment to Company: If any of the provisions of Sec 139 to Sec 146 is contravened then the company shall be punishable with a fine which shall not be less than Rs. 25,000.00 but which may extend to Rs. 5,00,000.00 as provided in section 147 of Companies Act, 2013. Every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to 1 year or fine which shall not be less than Rs. 10,000.00 but which may extend to Rs. 1,00,000.00 or with both.
Where the Central Govt (CG) is of the opinion that the cost records of such class of companies engaged in the production of such goods and providing such services as may be prescribed , is required to be audited , then the CG on consultation with the regulatory bode can demand for cost audit to be conducted.
Manshi Baid SEC 144 OF THE COMPANIES ACT 2013 AUDITOR NOT TO RENDER CERTAIN SERVICES A person who is appointed as an auditor of a company can render only such services which have been approved by the board of director or the audit committee. But these services should not include the following services:- 1. Accounting […]
Manshi Baid SEC 143(1) : This section provides that the auditor of the company shall have the right to have access at all the times to the books of accounts and vouchers of the company , whether kept at the registered place or at some other places of the company. He can obtain all the […]