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Notifications/Circulars

Companies allowed to constitute Audit Committees, and Nomination and Remuneration Committees till 31st March, 2015

June 12, 2014 3413 Views 0 comment Print

Provided further that public companies covered under this rule shall constitute their Nomination and Remuneration Committee within one year from the commencement of these rules or appointment of independent directors by them, whichever is earlier

No dividend to be declared before set-off of carried forward losses and Short Depreciation of earlier years

June 12, 2014 3264 Views 0 comment Print

No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company of the current year

Cost Inflation Index for Financial Year 2014-15

June 11, 2014 12259 Views 0 comment Print

Notification No. 31/2014-Income Tax S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income Tax Act, 1961 (42 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-

Form No. INC-27 for conversion of company from public to private

June 11, 2014 14230 Views 0 comment Print

Attention of the Ministry has been drawn to difficulties being faced by stakeholders while filing form INC-27 for conversion of a public company into a private company. The relevant provisions of Companies Act, 2013 (second proviso to sub-section (1) and sub-section (2) of section 14) have not been notified.

MGT-10 form needs to be filed physically

June 11, 2014 5846 Views 0 comment Print

stakeholders are required to fill Form MGT-10 physically, get it duly signed/ certified by a professional and file it alongwith other required enclosures as attachments with the prescribed General E-Form No. GNL-2. This temporary arrangement will continue till an E-Form for MGT-10 is made available.

RBI advises Information System(IS) Audit for Urban Cooperative Banks

June 11, 2014 4820 Views 0 comment Print

UCBs may adopt an IS audit policy, if not already done, appropriate to its level of operations, complexity of business and level of computerization and review the same at regular intervals in tune with guidelines issued by RBI from time to time.

Notification No. 7/2014-Income Tax Dated 10/6/2014

June 10, 2014 1435 Views 0 comment Print

Notification No. 7/2014-Income Tax In partial modifications of earlier Notification No. 1 of 2013(F.No.A­32012/6/ 2012-Ad.VI) dated 15t January, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect

Notification No. 10/2014-Income Tax Dated 10/6/2014

June 10, 2014 2272 Views 0 comment Print

Notification No. 10/2014-Income Tax In partial modifications of earlier Notification No. 04 of 2014(F.No.A­32012/ 2/ 2013-Ad.VI) dated 3rd March, 2014, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600­39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect

Notification No. 8/2014-Income Tax Dated 10/6/2014

June 10, 2014 727 Views 0 comment Print

Notification No. 8/2014-Income Tax In partial modifications of earlier Notification No. 7 of 2013(F.No.A­32012/6/2012-Ad.V1) dated 2l October, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect

Resident Director of Foreign Companies to Submit PAN at the time of Incorporation

June 10, 2014 3992 Views 0 comment Print

That I undertake to furnish to the Registrar of Companies (mention jurisdiction) details of my PAN as soon as a Permanent Account Number is allotted to me.

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