One Person Company to convert itself into a public company or a private company in certain cases.
Posted Date : 11-Mar-2017 , 11:28:42 am | Posted By
Md Irsad Alam
Following are certain cases where One Person Company need to convert itself into to a public company or a private company:- 1. (i) Where the paid up share capital of an One Person Company seceeds fifty lakh repees [or less] and (ii) its average annual turnover during the rel...
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Category : Companies Act |
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GST Council approves GST / IGST LAw
Posted Date : 04-Mar-2017 , 07:59:58 pm | Posted By
Vineet Chopra
Goods and Services Tax GST) Council approves the Central Goods and Services Tax (CGST) Bill and the Integrated Goods and Services Tax (IGST) Bill. The Goods and Services Tax GST) Council, in its meeting held today in Vigyan Bhawan in New Delhi under the Chairmanship of the Union Minister ...
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Category : GST |
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All About Job Work Under GST Regime
Posted Date : 04-Mar-2017 , 04:55:01 pm | Posted By
Chitresh
Movement of goods to job workers is an essential business situation which occurs frequently. Many times a manufacturer send goods to a job worker for getting further work done on them, and receive the goods back from job worker or sell the goods directly from the place of job worker. The tax positio...
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Category : GST |
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SOME IMPORTANT FAQ ON SPICe
Posted Date : 03-Mar-2017 , 10:29:04 pm | Posted By
Md Irsad Alam
1. How many names can be applies for in SPICe (INC-32)?
Only one. However, for reservation of a name prior to filing SPICe (INC-32), you may use INC-1 (in which up to 6 names can be proposed) and then input the SRN of approved INC-1 into SPICe.
2. Is INC-22 Still required t...
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Category : Corporate Law |
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Investor education and protection fund authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017
Posted Date : 03-Mar-2017 , 10:05:52 pm | Posted By
Md Irsad Alam
Central Government makes the Investor Education and Protection (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 to amend Investor Education and Protection (Accounting, Audit, Transfer and Refund) Rules, 2016 to substitute following paragraph- "Company" means a company defined in ...
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Category : Corporate Law |
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Nidhi Rules,2014 governs the Law and procedure for Nidhi Company
Posted Date : 01-Mar-2017 , 12:06:08 pm | Posted By
PRASHANT
Section 406 of Companies Act 2013 and Nidhi Rules,2014 governs the Law and procedure for Nidhi Company. What is Nidhi Company ?
A Nidhi company, is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act 2013.
Their core ...
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Category : Corporate Law |
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One Life.....Many Struggles
Posted Date : 28-Feb-2017 , 12:26:07 am | Posted By
ATUL KHURANA
One Life…….Many Struggles
A lot of people already predicted that this article is related to their own lives because they can easily relate themselves with the word in heading above “Struggles”
Actually, the reason behind writing this article is just to pen down my own vie...
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Category : Students Zone |
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The Ease of Compliance to Maintain Registers under various Labour Laws Rules, 2017
Posted Date : 24-Feb-2017 , 08:17:40 am | Posted By
Md Irsad Alam
The Ease of Compliance to Maintain Registers under various Labour Laws Rules, 2017
Whereas for the ease of, and for the expedient compliance of the requirement of the various labour related laws referred to herein and for the purpose of maintaining combined registers for all such laws, i...
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Category : Corporate Law |
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GST in Education and Training Industry
Posted Date : 24-Feb-2017 , 12:12:03 am | Posted By
Rishi Goyal
For the implementation of GST from July,2017 , Draft law of GST compensation has been approved by the GST council in 10th meeting. Now, three crucial draft laws — Central GST (CGST), Integrated GST (IGST) and State GST (SGST) expected to be approved in the next meeting held on 4 and 5 march.
...
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Category : GST |
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CPE Hours Requirements in a block period of 3 years increase from 90 to 120 - ICAI
Posted Date : 23-Feb-2017 , 06:19:30 pm | Posted By
CA.Khurana Vivek
CPE HOURS REQUIREMENTS FOR THE BLOCK PERIOD OF 3 YEARS (1-1-2017 TO 31.12.2019) TO BE COMPLIED WITH BY DIFFERENT CATEGORIES OF MEMBERS. A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are required to: a. Comple...
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Category : CPE Hours |
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The Payment of Wages (amendment) act, 2017 comparison with old provision and their effects
Posted Date : 22-Feb-2017 , 10:33:03 pm | Posted By
Md Irsad Alam
Comparison between provision under the payment of wages act 1936, and the Payment of Wages (amendment) act, 2017
New Provision
For section 6 of the Payment of Wages Act, 1936, following section has been substituted, namely:- "6. All wages shall be paid in current coin or currency n...
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Category : Corporate Law |
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RESTRICTIONS ON CASH TRANSACTIONS IMPOSED IN BUDGET 2017
Posted Date : 21-Feb-2017 , 05:50:22 pm | Posted By
AJIT H. YADKIKAR
Restrictions on Cash Receipts imposed in Union Budget 2017-18 – New Section 269ST
The Finance Bill 2017 introduced a new section 269ST in the Income Tax Act. The new section will impose restriction on receipt of any amount exceeding Rs. 3 lakhs through modes other than the modes prescribed...
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Category : Income Tax |
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A quick summary on small company
Posted Date : 20-Feb-2017 , 07:34:38 pm | Posted By
PRIYA GARG
A Quick summary on small company The concept of “Small Company” has been introduced in the Companies Act, 2013. As per the act some companies are small companies based on their...
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Category : Corporate Law |
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SOME IMPORTANT FAQ ON BENAMI TRANSATION
Posted Date : 18-Feb-2017 , 04:02:52 pm | Posted By
Md Irsad Alam
1.What is Benami? Benami essentially means property without a name. In this kind of transaction the person who pays for the property does not buys it under his/her own name. The person on whose name the property has been purchased is called the benamdar and the property so purchased is called ...
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Category : Income Tax |
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Penalty on undisclosed income
Posted Date : 14-Feb-2017 , 01:54:10 pm | Posted By
CA PREITY NAGI
Introduction:-
What is Penalty?
A punitive measure that the law imposes for the performance of the act that is prescribed or for the failure to perform a required act.
Penalty is a comprehensive term with many different meanings. It entrails the concept of punishment- either corporal or pecuni...
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Category : Income Tax |
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Time and Value of Supply
Posted Date : 11-Feb-2017 , 10:29:27 pm | Posted By
Deepak Bharti
Time of Supply of Goods & Services
A detailed analysis of Section 12
As per Section 12 (1) of Model GST law the liability to pay CGST / SGST on the goods or services shall arise at the time of supply as determined in terms of the provisions of this section.
The time of supply of...
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Category : GST |
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Meaning and scope of supply
Posted Date : 11-Feb-2017 , 10:26:53 pm | Posted By
Deepak Bharti
Meaning and scope of supply Determination of the taxable event in any tax law is of utmost significance as the levy of tax is based on occurrence of that event. In the Model GST Law, a uniform and single taxable event ‘supply’ would replace multiple taxable events i.e. manufacture...
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Category : GST |
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Forensic Accounting
Posted Date : 11-Feb-2017 , 02:29:49 pm | Posted By
CA PREITY NAGI
History of Forensic Accounting Forensic Accounting is a relatively new profession that uses ideas and techniques started centuries ago. The profession has been molded and shaped by many aspects of the shifting world including the economy, society, and legislation. The term "forensic accounting" was ...
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Category : Income Tax |
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GST- Simplified Meaning
Posted Date : 09-Feb-2017 , 01:49:30 am | Posted By
Himanshu
GST- Simplified Meaning
GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage...
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Category : GST |
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Excellent balanced budget
Posted Date : 01-Feb-2017 , 01:41:11 pm | Posted By
CA Gopal Ji Agrawal
Finance Minister Arun Jaitley presented the Union Budget 2017, his fourth annual budget, today.
I think Its a excellent balanced budget. Market also reacted positively on it. Sensex got hike of 300 points. Here are the highlights;
Key Changes in Taxation:
1. Income Tax rate reduced from 10% to ...
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Category : Budget |
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