The Hon’ble CESTAT, Delhi also relied upon the decision in the Metric Solution case and held that Cenvat credit in respect of inputs/ input services received by an output service provider during the period prior to his obtaining Service tax registration is admissible and denial of Cenvat credit on this ground is not correct.
Section 138 of the Act provides that such class or classes of companies as may be prescribed shall be required to appoint an internal auditor. Such internal auditor shall be appointed by the board and may be a chartered accountant or cost accountant or or such other professional as may be decided by the board.
CA Nitesh More Section-117 of the Companies Act, 2013, a copy of every resolution or any agreement, in respect of matters specified in sub-section (3) together with the explanatory statement under section 102 , if any, annexed to the notice calling the meeting in which the resolution is proposed, shall be filed with the Registrar […]
Companies Act 2013 is being looked upon as a harsh, draconian legislation which offers a crown of thorns in the form of penalties and a spell in hell in the form of imprisonment for both the officers and auditors of companies alike. Here what is being attempted is to project an ambiguity relating to the Auditors opinion & True and Fair view .
Ganesha is worshipped everywhere with joy for ten days but Ganesha should be prayed whole year, as it leads to worship of Knowledge. Taxpayer should constantly gain and update his knowledge. Let’s expect following changes may come in next financial year 1) Income Tax Act 1961 should be replaced with the Direct Tax Code and taxpayer should be released from the burden of tax compliance to large extend. 2) VAT, Service Tax, Excise, etc indirect tax should be substituted with Goods and Service Tax, so that taxpayer is not required to follow various tax laws.
CS Ankur Garg Through this write up we shall discuss another topic which is quite frequent for secretarial department of a Company. Statutory provisions related to transfer of share one should refer the following sources: 1. Section 56 of Companies Act, 2013 2. Rule 11 of Companies (Share Capital & Debentures) Rules 2014 3. Provisions […]
The brief facts of the case are that the assessee had sold her immovable property being residential flat No.101, 1st floor, Hill Queen, Pali Malla Road, Bandra, Mumbai for Rs. 1,55,00,000/- on 30.08.2006 and after indexation Long Term Capitasl Gains( LTCG) of Rs.1,26,20,624/- were determined.
ITAT held in its order that ICAI CPE programmes might have failed to achieve the desired objectives with some of the Chartered Accountants. It further said that it is hightime that the ICAI should take note of these practicalities and should take corrective steps in order to maintain/restore the high standards and quality expected from a C.A. professional.
The extension of date for obtaining and submitting the Tax Audit Report till 30th November 2014 for the Assessment Year 2014-15 without extending the due date to file the Return of Income has created many concerns in the minds of Chartered Accountants.
Section-455 of Companies Act, 2013 talks about a New Provision Calls DORMANT Company. This concept was not there in Companies Act, 1956. Another Name of this concept by Professionals is ASSET SHIELDING CONCEPT UNDER COMPANIES ACT 2013.
