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sec 146
Posted Date : 03-Mar-2015 , 04:33:43 pm | Posted By Manshi Baid

SECTION 146 OF THE COMPANIES ACT 2013 AUDITORS TO ATTEND GENERAL MEETING This section provides that all the notices and other communications relating to the AGM shall be forwarded to the auditor also and the auditor shall either himself or through his representative, who is also qualified to be a...

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Category : Corporate Law | Comments : 0 | Hits : 0

sec 145
Posted Date : 03-Mar-2015 , 04:33:17 pm | Posted By Manshi Baid

SECTION 145 OF COMPANIES ACT 2013 AUDITOR TO SIGN AUDIT REPORTS This section provides that person appointed as an auditor of the company is required to sign the audit report and certify the documents of the company in accordance with the provisions of section 141(2).The observations , qualificati...

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Category : Corporate Law | Comments : 0 | Hits : 0

sec 144
Posted Date : 03-Mar-2015 , 04:32:53 pm | Posted By 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. A...

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Category : Corporate Law | Comments : 0 | Hits : 0

sec 144
Posted Date : 03-Mar-2015 , 04:32:34 pm | Posted By Manshi Baid

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Category : Corporate Law | Comments : 0 | Hits : 0

sec 141
Posted Date : 03-Mar-2015 , 04:32:01 pm | Posted By Manshi Baid

SEC 141 OF COMPANIES ACT 2013 ELIGIBILITY , QUALIFICATION AND DISQUALIFICATIONS OF AUDITORS Section 141(1) : Only a Chartered Accountant can be appointed as an auditor of the company. (This section provides that only a person holding the certificate of Chartered Accountant can be appointed as...

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Category : Corporate Law | Comments : 0 | Hits : 0

sec 143
Posted Date : 03-Mar-2015 , 04:31:22 pm | Posted By Manshi Baid

SEC 143 OF COMPANIES ACT 2013 POWER AND DUTIES OF AUDITOR AND AUDITING STANDARDS 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...

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Category : Corporate Law | Comments : 0 | Hits : 0

section 80G
Posted Date : 03-Mar-2015 , 04:30:24 pm | Posted By Manshi Baid

SECTION 80G OF THE INCOME TAX ACT 1961 DONATION TO CERTAIN FUNDS , CHARITABLE INSTITUTIONS ETC Meaning of Donation : Donation means a person gives money to another without any consideration. Elegible Assessee : The deduction under this section is available to all the assesses whether individu...

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Category : Income Tax | Comments : 0 | Hits : 0

Revised and Latest TDS Rate Chart For FY 2015-16 and AY 2016-17
Posted Date : 03-Mar-2015 , 08:41:36 am | Posted By Vimmi

The Changes proposed by the Budget 2015-16 (Finance Bill 2015) related to deduction of tax at source under Chapter XVII of the Income tax Act, 1961 are as under: 1.       Section 194A amended to expressly provide that from 1st June, 2015 the exemption provided fro...

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Category : TDS | Comments : 0 | Hits : 1544

Rate of Service Tax and Swachh Bharat Cess : Applicability in various situations
Posted Date : 03-Mar-2015 , 08:19:54 am | Posted By Vimmi

In the first full year budget 2015-2016, Hon'ble Prime Minister Modiji and Mr. Jaitley has tried to boost the confidence of people by giving many exemptions, pension schemes and so on. However, to meet all these expectations there must be increase in government's revenue. To meet the requirement of ...

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Category : Service Tax | Comments : 1 | Hits : 740

Union Budget 2015: Key Changes in Indirect Taxes
Posted Date : 02-Mar-2015 , 11:49:06 am | Posted By Bimal Jain

Dear Professional Colleague, Union Budget 2015: Key Changes in Indirect Taxes   Amidst huge expectations, the Hon’ble Finance Minister Shri. Arun Jaitley presented the first full-year Budget of the Hon’ble Prime Minister Shri. Narendra Modi's Government on February 28, 2015, Satur...

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Category : Budget | Comments : 0 | Hits : 329

Budget Highlights
Posted Date : 28-Feb-2015 , 04:20:18 pm | Posted By Upasana Upadhyay

INDIRECT TAXES   GST (Goods & service Tax) will roll out from 01.04.2016.   Excise Duty and cess hiked from 12.36% to 12.50%.   Service Tax hiked to 14%.   ITC under indirect tax can be taken up to 1 year instead of 6months as envisaged earl...

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Category : Budget | Comments : 1 | Hits : 237

Taxability of Chaotic Interest incomes from acquisition of Land
Posted Date : 27-Feb-2015 , 03:27:34 pm | Posted By Hemant

TAXABILITY OF CHAOTIC INTEREST INCOMES FROM ACQUISITION OF LAND   LAND Acquisition Bill a most heated topic during the budget session of the year 2015. Central Government is in a hurry to pass the land acquisition bill to make it a complete legislation. However, the Anna’s new movement ag...

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Category : Income Tax | Comments : 0 | Hits : 195

Service received by petitioner assessee not chargeable to ST
Posted Date : 27-Feb-2015 , 03:24:16 pm | Posted By Rahul Jindal

IN THE HIGH COURT OF BOMBAY TCS E-SERVE LTD Vs UNION OF INDIA AND ORS Dated: February 23, 2015 ST - Tribunal holding that services received by petitioner assessee cannot be held chargeable to ST - Refund claimed on the strength of this order was rejected by Revenue on the ground ...

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Category : Service Tax | Comments : 0 | Hits : 34

Pre-deposit has to be waived off if Assessee’s case is a good/ strong prima facie case covered by a binding precedent
Posted Date : 25-Feb-2015 , 02:24:54 pm | Posted By Bimal Jain

Dear Professional Colleague, Pre-deposit has to be waived off if Assessee’s case is a good/ strong prima facie case covered by a binding precedent We are sharing with you an important judgment of Hon’ble High Court, Allahabad, in the case of Shukla & Brothers Vs. Customs, Excise &...

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Category : Service Tax | Comments : 0 | Hits : 98

Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks
Posted Date : 24-Feb-2015 , 11:07:37 pm | Posted By CA.Khurana Vivek

Norms on eligibility, empanelment and selection of Statutory Central Auditors in Public Sector Banks   (i) The auditing firm shall have a minimum 7 full time chartered accountants, of which at least 5 should be full time partners exclusively associated with the firm. The remaining 2 coul...

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Category : Auditing | Comments : 0 | Hits : 672

Procedure for Appointment of Statutory Auditors in Public Sector Banks
Posted Date : 24-Feb-2015 , 11:00:03 pm | Posted By CA.Khurana Vivek

  PROCEDURE FOR APPOINTMENT OF STATUTORY AUDITORS IN PUBLIC SECTOR BANKS. Statutory Central Auditors (SCAs)   1. The number of SCAs to be appointed in PSB will be as under:   i) Category “A” Banks (Large Banks viz. Bank of Baroda, Bank of India, Canara...

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Category : Auditing | Comments : 0 | Hits : 1104

MYTH ABOUT CA EXAM
Posted Date : 24-Feb-2015 , 03:11:17 pm | Posted By Soniya

During Exam Time we study for long hours, the level of Stress  affects the working of our brain , the fear of syllabus not complete keep us awake late night , these are most common situation during CA/CS/CWA  or any professional  Exam Time  , I am listing from my experience some ...

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Category : Students Zone | Comments : 1 | Hits : 124

Management and administration under Co. Act, 2013
Posted Date : 23-Feb-2015 , 05:30:29 pm | Posted By Vivek Parakh

Provisions related to Management and Administration – Part 4 Minutes of proceedings of general meeting, meeting of board of directors and other meeting and resolution passed by postal ballot A separate minute book shall be maintained for each type of meeting namely: General meeting of m...

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Category : Corporate Law | Comments : 0 | Hits : 40

Inputs used in manufacture of finished goods destroyed in fire
Posted Date : 23-Feb-2015 , 11:35:28 am | Posted By Rahul Jindal

Rule 57A does not mandate that credit can be claimed only if there is emergence of final product or that manufacture of final product is complete - Credit admissible on inputs destroyed in fire: High Court  FEB 17, 2015: This is a Revenue appeal against the order passed by the Tribunal. T...

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Category : Service Tax | Comments : 0 | Hits : 167

Condonation of filing the delay
Posted Date : 23-Feb-2015 , 10:45:56 am | Posted By Rahul Jindal

ST - Govt departments are working with depleted staff strength - Finance & Accounts Manager is crucial post and its vacancy vital element and factor - In such circumstances, by imposition of costs, discretion could have been exercised by Tribunal in favour of statutory entity: High Court  ...

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Category : Service Tax | Comments : 0 | Hits : 239

Input Credit mechanism under proposed GST regime-The milestone to achieve
Posted Date : 22-Feb-2015 , 09:32:23 am | Posted By CA Vinod Kumar

Input Credit mechanism under proposed GST regime-The milestone to achieve     BACKGROUND:   Before I begin this article it is worthwhile to discuss the background behind this since as of today no professional as well dealer is sure about the consequences of proposed GST legislatio...

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Category : GST | Comments : 0 | Hits : 294

Management and Administration under Co. Act 2013 - Part-3
Posted Date : 21-Feb-2015 , 04:28:54 pm | Posted By Vivek Parakh

Provisions related to Management and Administration – Part 3 Voting through electronic means Listed Co. or Company having 1000 or more shareholders shall provide the facility to vote at general meetings by electronic means. Procedure to be followed: Notices of meetings shall be ...

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Category : Corporate Law | Comments : 0 | Hits : 177

Interest on delayed refund is permissible from expiry of 3 months’ from the date of filing of Refund application and not from the date of Refund Order
Posted Date : 21-Feb-2015 , 12:33:47 pm | Posted By Bimal Jain

Dear Professional Colleague, Interest on delayed refund is permissible from expiry of 3 months’ from the date of filing of Refund application and not from the date of Refund Order We are sharing with you an important judgment of Hon’ble CESTAT, Ahmedabad, in the case of Tata Chemicals ...

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Category : Excise | Comments : 0 | Hits : 150

Income Tax Refund may get delayed this year
Posted Date : 19-Feb-2015 , 08:07:24 am | Posted By May I Help You.

Your wait for the income tax refund cheque could get longer. The government, racing against time to meet its budgeted revenue targets, may decide to defer dispatching the tax refund amounts until next year.   This money retained in the state's coffers will only help show a less weak governmen...

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Category : Income Tax | Comments : 0 | Hits : 718

Sum paid as a pure agent of service recipient is not includible in value of services
Posted Date : 17-Feb-2015 , 01:53:55 pm | Posted By Bimal Jain

Dear Professional Colleague, Sum paid as a pure agent of service recipient is not includible in value of services We are sharing with you an important judgment of Hon’ble High Court, Chhattisgarh, in the case of Union of India Vs. Raj Wines [(2015) 53 taxmann.com 445 (Chhattisgarh)] on the f...

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Category : Service Tax | Comments : 0 | Hits : 208

Management and Administration under Co. Act 2013 - Part-2
Posted Date : 13-Feb-2015 , 08:05:03 pm | Posted By Vivek Parakh

Provisions related to Management and Administration – Part 2   Provisions: (Section 100 to 107, read with Companies (Management and Administration) Rules, 2014 Calling of Extra Ordinary General Meeting (EGM) EGM may be called in 2 ways: a) By Board and b) On Requisition. Board ma...

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Category : Corporate Law | Comments : 0 | Hits : 243

“SC upholds levy of Sales tax on processing and supplying of photographs - reiterates power to levy tax retrospectively”
Posted Date : 13-Feb-2015 , 02:16:31 pm | Posted By Bimal Jain

Dear Professional Colleague, SC upholds levy of Sales tax on processing and supplying of photographs - reiterates power to levy tax retrospectively We are sharing with you an important judgment of the Hon’ble Supreme Court, in the case of State of Karnataka Etc Vs. Pro LAB and Ors [2015-TIOL...

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Category : VAT | Comments : 0 | Hits : 200

Cenvat credit availed on the invoices received prior to Service tax registration cannot be denied
Posted Date : 11-Feb-2015 , 04:57:42 pm | Posted By Bimal Jain

Dear Professional Colleague, Cenvat credit availed on the invoices received prior to Service tax registration cannot be denied We are sharing with you an important judgment of Hon’ble CESTAT, New Delhi, in the case of JP. Kenny Ltd. Vs. CCE. & CST. - Delhi [2015 (1) TMI 1199 - CESTA...

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Category : Service Tax | Comments : 0 | Hits : 211

NO Interest is chargeable u/s 234A on self Assessment tax
Posted Date : 11-Feb-2015 , 04:30:48 pm | Posted By Soniya

Interest under Section 234A of the Income-tax Act, 1961 is charged in case of default in furnishing return of income by an assessee. Calculation of Interest Amount of tax payable on the total income               &nbs...

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Category : Income Tax | Comments : 0 | Hits : 144

Declared value of imported goods cannot be enhanced merely on the basis of NIDB data
Posted Date : 09-Feb-2015 , 01:02:01 pm | Posted By Bimal Jain

Dear Professional Colleague, Declared value of imported goods cannot be enhanced merely on the basis of NIDB data We are sharing with you an important judgment of Hon’ble CESTAT, Chennai, in the case of Topsia Estates Pvt. Ltd. Vs. Commissioner of Customs, Chennai [(2015) 53 taxmann.com 345 ...

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Category : Custom | Comments : 0 | Hits : 142

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