FAQ ON FDI
Posted Date : 05-May-2011 , 06:45:03 am | Posted By
CA. SANAT PYNE
FAQ ON FDI
Q. 1. What are the forms in which business can be conducted by a foreigncompany in India?
Ans. A foreign company planning to set up business operations in India may:
Incorporate a company under the Companies Act, 1956, as a Joint...
Continue Reading...
Category : FEMA |
Comments :
0 | Hits : 1288 |
 |
FAQ ON 26AS
Posted Date : 05-May-2011 , 03:02:32 am | Posted By
CA. SANAT PYNE
1.What is Form 26AS?
Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement, with respect to a financial year, will include details of:
a) tax deducted at source (TDS);
b) tax collected at source (TCS); and
c) adva...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 881 |
|
Increase in Authorised Capital is not liable to stamp duty under Indian Stamp Act, 1899 as applicable in Delhi
Posted Date : 04-May-2011 , 09:15:17 pm | Posted By
Anjali Arora
Delhi High Court in the case of S.E. Investment Limited (CO. APPL. (M) 38/2011 & CO. APPL. 293/2011) held that increase in Authorised Capital is not liable to stamp duty under Indian Stamp Act, 1899 as applicable in Delhi
Facts of the Case -S.E. Investment Limited (the Pe...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 1716 |
|
REGISTRATION UNDER SECTION 35AC
Posted Date : 04-May-2011 , 03:06:37 am | Posted By
CA. SANAT PYNE
REGISTRATION UNDER SECTION 35AC
01The Central Government approves certain NGOs and notifies them as eligible for project or schemes for the purposes of section 35AC. If an NGO succeeds in getting such an approval for its projects then it stands a very good chance of mobilising fund...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 752 |
|
CHECKLIST FOR APPOINTMENT OF MANAGING DIRECTOR
Posted Date : 04-May-2011 , 12:27:25 am | Posted By
CA. SANAT PYNE
CHECKLIST FOR APPOINTMENT OF MANAGING DIRECTOR
The following are the steps involved in appointment of Mr. A as Managing Director in a Company who is not an Managing Director in any other Company:
Convene Board Meeting, appoint Mr. A as Additional Director and pas...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 4484 |
|
Micro Finance Institutions (MFIs) cannot charge more than 26 pc interest – RBI
Posted Date : 04-May-2011 , 12:26:31 am | Posted By
CA. Sachin Data
The Reserve Bank has capped interest rates charged by micro finance institutions from small borrowers at 26 per cent, but opened for MFIs the bank credit line which was curtailed following the crisis faced by the sector in October, 2010.
The loan by the banks to MFIs for on-lending to small b...
Continue Reading...
Category : Banking |
Comments :
0 | Hits : 1056 |
|
FORMATION OF CHARITABLE TRUST
Posted Date : 04-May-2011 , 12:25:55 am | Posted By
CA. SANAT PYNE
FORMATION OF CHARITABLE TRUST
A public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered u/s 25 of the CompaniesAct.
It generally takes the form of a trust when it is formed primarily by one or more persons.
To form a Societ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1254 |
|
All about Deduction under Section 80G of the Income Tax Act, 1961 for donation
Posted Date : 04-May-2011 , 12:24:22 am | Posted By
CA. SANAT PYNE
All about Deduction under Section 80G of the Income Tax Act, 1961 for donation
INSPITE of all the contributions made to social causes, there is a huge gap between the demand of money from the needy and the amount donated by philanthropists. This probably, is the reason why the Gov...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1792 |
|
5 ways to live a better life
Posted Date : 03-May-2011 , 07:22:10 am | Posted By
Ravindr Bhandari
Five popular ways for better living
GEM THERAPY
THE GEM STONES ARE A PERENIAL SOURCE OF SPECIFIC RAYS WHICH RADIATE FROM THEM FOR SEVERAL YEARS. PEOPLE SUFFERING FROM HEALTH PROBLEMS OR MISFORTUNES CAN WEAR DIFFERENT GEM STONES TO COUNTER THE MALEFIC INFLUENCE OF CERTAIN PLANETS IN A...
Continue Reading...
Category : General |
Comments :
0 | Hits : 680 |
|
What are eligible investments for Section 80C:
Posted Date : 03-May-2011 , 03:56:11 am | Posted By
CA. SANAT PYNE
Background for Section 80C of the Income Tax Act (India) / What are eligible investments for Section 80C:
Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 80C has become effective w.e.f. 1st April, 2006. ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 876 |
|
FAQ ON PAYMENT OF TAX
Posted Date : 03-May-2011 , 03:53:12 am | Posted By
CA. SANAT PYNE
What are the new challans for the payment of Direct Taxes?
The following new single copy challans have been introduced with effect from July 2005:
...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1385 |
|
Amendment to Schedule VI - Date of Applicability
Posted Date : 03-May-2011 , 01:28:07 am | Posted By
Anmol Rana
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY,
PART II, SECTION3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
Ministry of Corporate Affairs
NOTIFICATION
...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 1209 |
|
Guidelines for reporting TDS transactions not exceeding / exceeding threshold limit in quarterly TDS statements (as issued by Directorate of Income Tax - Systems).
Posted Date : 30-Apr-2011 , 10:42:11 pm | Posted By
Sahil Rastogi
Guidelines for reporting TDS transactions not exceeding / exceeding threshold limit in quarterly TDS statements (as issued by Directorate of Income Tax - Systems).
Below guidelines may be referred, if deductor wishes to report the transaction in the quart...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1711 |
|
Capital Gain
Posted Date : 29-Apr-2011 , 04:34:22 am | Posted By
Sahil Rastogi
Capital gains arising on sale of two residential houses invested in two residential houses-Eligibility for exemption
The assessee owned two flats. The first flat was sold by the assesses for a sum of Rs. 1,01,00,000 and the second Flat had been sold for a sum of Rs. 97,...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1168 |
|
Boss Always First
Posted Date : 28-Apr-2011 , 11:52:42 am | Posted By
May I Help You.
A junior manager, a senior manager and their boss are on their way to a meeting.
On their way through a park, they come across a wonder lamp. They rub the lamp and a ghost appears.
The ghost says,
"Normally, one is granted three wishes but as you are three,
I will allow one ...
Continue Reading...
Category : General |
Comments :
5 | Hits : 1251 |
|
Another Important judgment of Mumbai ITAT - S. 50C applies to immovable depreciable assets being land and building or both
Posted Date : 28-Apr-2011 , 11:16:54 am | Posted By
AMIT BAJAJ
ITO vs United Marine Academy(Mumbai ITAT)
Brief Facts: The assessee sold an office building for Rs. 49.43 lakhs. As the WDV of the said building was also Rs. 49.43 lakhs, no STCG was offered to tax. The AO held that as the stamp duty valuation of the building was Rs. 76.49 lakhs, t...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1088 |
|
MCA CIRCULAR ON E DELIVERY
Posted Date : 28-Apr-2011 , 04:49:13 am | Posted By
Sahil Rastogi
Document delilvery by electronic mode_A relief through the Green Initiative
Finally, as a move to relieve the Corporate of huge financial burden of sending physical documents such as notices etc. by Registered Post instead of Under Posting Certificates after it being dis...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 871 |
|
Amendment in Service Tax w.e.f. 1st May'2011
Posted Date : 27-Apr-2011 , 07:54:09 am | Posted By
Recently CBEC issued number of Notifications to amend various provisions. Gist of the Amendment is given below:
All the changes in old services and new services will become applicable from 1st May 2011. (Notification No 29/2011)
Fresh Exemption is provided to (Notificat...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 5243 |
|
TDS is major area of govt. revenue
Posted Date : 27-Apr-2011 , 05:25:52 am | Posted By
CA Mordhwaj Garg
Penal provision of Late filling of TDS return 100.00 rs. per day or TDS amount which is lower. but in the present practice most of the assessee not filled TDS return properly & within the time prescribed by the Income Tax department.
As per new sec. introduced by govt. TDS applicable is &...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 828 |
|
TDS Return Submission Date of 4th quater onward F.Y. 2010-11
Posted Date : 27-Apr-2011 , 05:05:40 am | Posted By
CA Mordhwaj Garg
Return Form 27EQ for TCS &...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1470 |
|
|
