In case an existing proprietary concern/firm of Company Secretary(ies) desires to change its name, the following conditions shall be fulfilled: (a) An application for change in name of the firm (preferably mentioning its Unique Code Number) shall be submitted along with the Form for giving particulars of Offices and Firms duly filled- in.
It is suggested that there should be a positive provision under the I.T. Act that any transaction involving more than Rs.3,00,000/– (Rupees Three Lacs) shall be invalid & illegal and would be a punishable offence, if amount is not paid by account payee cheque or account payee bank draft or use of electronic clearing system through a bank account.
SIT has recommended that there should be a total ban on cash transactions above Rs. 3,00,000 and an Act be framed to declare such transactions as illegal and punishable under law. SIT has also suggested an upper limit of Rs. 15 lakhs on cash holding.
Government has decided to revise the time schedule for making payments under the Income Declaration Scheme 2016 as under: (i) a minimum amount of 25% of the tax, surcharge and penalty to be paid by 30.11.2016; (ii) a further amount of 25% of the tax, surcharge and penalty to be paid by 31.3.2017; and (iii) the balance amount to be paid on or before 30.9.2017.
The Special Judge, CBI Cases, Karkardooma Courts, Delhi has sentenced Sh. K.K. Mishra, then Chief Manager, State Bank of Saurashtra, Lodhi Road, New Delhi & Sh. V.B. Borar, Chartered Accountant (private person), both to undergo five years Simple Imprisonment with fine of Rs. 10 lakh each
It is clarified that the intent of the clarification issued vide Question No.5 of Circular No.25 of 2016 was limited to conduct of enquiry by the Department. It in no way intends to modify or alter the rate of tax, surcharge and penalty payable under the Scheme which have been clearly specified in the Scheme itself.
Government accepts the recommendations of Sub-Committee of the High Level Committee to interact with Trade & Industry on Tax Laws on issues relating to compliance procedure for the excise duty,records to be maintained and other relevant administrative issues.
DGFT briefly summarized the major initiatives relating to policy simplification, reducing cost of capital through interest subvention, document reduction, IT initiatives like online filing of applications, creation of trade portal and training and outreach activities.
The Institute submitted a representation on the subject ‘Criterion for selection of Cost Auditors in PSUs’ to the Director General, SCOPE with copies marked to Chief Vigilance Commissioner, Secretary-MCA and Department of Public Enterprises and subsequently held a meeting of President with the DG-SCOPE, SCOPE on the matter.
Convocation is a day of well-deserved celebration. For students, it signifies the completion of their course and the beginning of an exciting new chapter in their lives. TimesPro held its 1st Student Annual Convocation (TASC) in Mumbai. The convocation ceremony marked TimesPro’s 3 year journey of student excellence; and commitment towards employee oriented training.
