2 share capital

share capital - Page 6

Trade advance given to give effect to a commercial transaction can not be treated as deemed dividend

Commissioner of Income Tax Vs Shri Raj Kumar (High Court of Delhi)

1. This is an appeal preferred by the Revenue under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the „Act‟) against the judgment dated 09.03.2007 passed by the Income Tax Appellate Tribunal (hereinafter referred to as the „Tribunal‟) in ITA No. 4125/Del/1999 in respect of assessment year 1996-97. The Revenu...

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Corporate can Pay stamp duty online for formation of company, Increase in Authorise Share capital etc

Come September, the incorporation of companies or various regulatory filings will not be a cumbersome and time-taking exercise anymore. The government is going to start e-stamp facility that would allow corporates to deposit stamp duty electronically. From September 12, stamp duty for various instruments including Memorandum of Associatio...

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Posted Under: Income Tax |

Stamp Duty and Fees Payable for Registration of Companies Limited by Shares

STAMP DUTY AND FEES PAYABLE FOR REGISTRATION OF COMPANIES LIMITED BY SHARES Nominal Capital Filing fee to be deposited with Stamp Duty payable in Maharashtra Memorandum Articles & Forms* the ROC (each) Memorandum Articles Rs. Rs. Rs. Rs. Rs. 50,000 4,000 100 200 1,000 100,000 4,000 200 200 1,000 200,000 7,000 200 200 1,000 500,000 [&h...

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Posted Under: Income Tax |

Government Notified rules related to Delisting of listed shares

Government Notifies Delisting Rules The Securities Laws (Amendment) Act enacted in 2005, incorporated section 21(A) in the Securities Contract Regulation Act (SCRA) to allow delisting of securities necessitating the creation of a delisting Framework. In order to provide statutory backing for the delisting framework, Rules dealing primaril...

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Posted Under: Income Tax |

Companies once delisted have to wait for 10 years to relist

Companies cannot relist themselves on the bourses for up to ten years after their delisting, instead of two years as was the case earlier. The re-listing of a company can be done only after ten years, if its delisting is compulsory or initiated by the bourses, while in cases of voluntary delisting, the companies can list […]...

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Posted Under: Income Tax |

SEBI not obliged to obtain information from exchanges for sharing with the public under RTI

Market regulator SEBI on Friday said it is not obliged to obtain information from stock exchanges for sharing it with the public under the Right to Information Act. “SEBI Act gives powers to SEBI to obtain information for certain purposes and not for obtaining such information from the exchange for the sole purpose of providing...

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Posted Under: Income Tax |

PAN requirement for transfer of shares in physical form : SEBI

Notification No. MRD/DoP/ Cir-05/2009 20/05/2009

The Securities and Exchange Board of India (SEBI) vide circular ref. no. MRD/DoP/Cir-05/2007 dated April 27, 2007 made PAN the sole identification number for all participants transacting in the securities market, irrespective of the amount of such transaction. ...

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Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009

Notification No. LAD-NRO/GN/2009-10/05/163525 19/05/2009

Every member, who is directly or indirectly interested in any matter coming up for consideration at a meeting of the Committee, shall disclose the nature of his interest at such meeting and such disclosure shall be recorded in the proceedings of the meeting of the Committee and such member shall not take part in any deliberation of the C...

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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

In re Rural Electrification Corpn. Ltd. (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 shall be allowed in respect of the matters ...

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SEBI asks listed companies disclose the voting rights break up of shareholders for each class of security issued

Listed companies have to disclose to stock exchanges the voting rights break up of shareholders for each class of security issued, a SEBI amendment to the Equity Listing Agreement has specified. “It has been decided to amend clause 35 of the Equity Listing Agreement to provide additional format for disclosure of voting rights pattern in...

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Posted Under: Income Tax |

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