Posted Date : 10-Oct-2014 , 06:52:09 pm | Posted By CA Bimal Jain

Dear Professional Colleague, Interest allowable on refund of pre-deposits We are sharing with you an important judgment of Hon’ble Delhi High Court in the case of Afcons Infrastructure Ltd. Vs. Union of India [(2014) 49 taxmann.com 79 (Delhi)] on the following issue: Issue: Whether communi...

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Category : Excise | Comments : 0 | Hits : 356

Posted Date : 06-Oct-2014 , 01:01:37 pm | Posted By CA Bimal Jain

Dear professional college, No Penalty in the absence of mens rea We are sharing with you an important judgment of Hon’ble CESTAT, DELHI in the case of Mohan Poddar Vs. CCE, Raipur [2014 (9) TMI 782 - CESTAT NEW DELHI] on the following issue: Issue: Whether the penalty Under Section 78 of t...

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Category : Service Tax | Comments : 0 | Hits : 380

Posted Date : 05-Oct-2014 , 07:01:00 pm | Posted By Manoj Lamba

 REVISION OF TAX AUDIT REPORT   The system of Tax Audit u/s 44AB has changed drastically in recent time. Particularly the change of manual filling to non filling and now from non filling to e filling has raised lot of questions and confusions in mind of Accountants. The Some of many concer...

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Category : Income Tax | Comments : 0 | Hits : 1287

Posted Date : 04-Oct-2014 , 02:53:27 pm | Posted By Ankit Mangla

Related Party Transaction under New Regime Requirement of the Companies Act, 2013   A.Following are the Related parties as per section 2(76) i. Director / Key Managerial Personnel and their Relatives ii. Firm in which Director or Manager or relative is a partner iii. Private limited com...

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Category : Corporate Law | Comments : 0 | Hits : 918

Posted Date : 01-Oct-2014 , 03:15:46 pm | Posted By CA Akshay Joshi

Requirement for certificate of an accountant under Rule 37BB, or certificate in form 15CB as it is popularly known, originates from Section 195 (6) of Income Tax Act, 1961 (“the Act”) which requires a person making payment to a non resident to furnish information relating to such payment...

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Category : Income Tax | Comments : 0 | Hits : 561

Posted Date : 25-Sep-2014 , 03:35:42 pm | Posted By Pratik

Service Tax –Key Points Introduction Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994.  The service provid...

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Category : Service Tax | Comments : 0 | Hits : 1004

Posted Date : 24-Sep-2014 , 02:12:25 pm | Posted By Vimmi

1- मुझे उचित शिक्षा लेने का अवसर नही मिला... उचित शिक्ष...

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Category : General | Comments : 0 | Hits : 826

Posted Date : 24-Sep-2014 , 11:24:15 am | Posted By CA Paras Dawar

Income Tax implications on conversion of a Company into LLP  The onset of Companies Act 2013 has ushered a paradigm shift in operation and management of companies. The benefits which, hitherto were available to Private Companies in the erstwhile Companies Act, have to a large extent receded. ...

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Category : Income Tax | Comments : 0 | Hits : 503

Posted Date : 23-Sep-2014 , 10:22:48 pm | Posted By Nimisha

The Ministry of Corporate Affairs has issued a notification w.r.t. Companies (Appointment & Qualification of Directors) Amendment Rules, 2014 dated 18th September, 2014. The effect of the amendment made in Companies (Appointment & Qualification of Directors) Rules, 2014 are as follows: &nbs...

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Category : Corporate Law | Comments : 0 | Hits : 870

Posted Date : 22-Sep-2014 , 01:07:34 pm | Posted By Deepanshu Bansal

IMPORTANCE OF FUNCTIONS, ASSETS AND RISK (“FAR”) ANALYSIS IN TRANSFER PRICING     Introduction   Transfer pricing has become the most significant source of litigation in India and is increasingly becoming a regular discussion point in the board room of large Indian and ...

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Category : Income Tax | Comments : 0 | Hits : 476

Posted Date : 17-Sep-2014 , 08:09:19 am | Posted By Vimmi

इनकम टैक्स विभाग ने पूरे चार्टर्ड अकाउंटेट्स की कì...

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Category : Income Tax | Comments : 0 | Hits : 2800

Posted Date : 15-Sep-2014 , 09:35:40 pm | Posted By RATHI

THE CHANGING FACE OF INDIAN BANKING The Changing Decade :- Indian banking is passing through a phase of rapid transition which was initiated with the reforms of the financial sector that was initiated by the Central Government since 1991 when India faced its worst Balance of Payments Crisis in its...

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Category : Banking | Comments : 1 | Hits : 1042

Posted Date : 12-Sep-2014 , 08:48:23 pm | Posted By Csdiveshgoyal

  PROCESS TO RAISE CAPITAL FOR UNLISTED COMPANIES UNDER NEW COMPANIES ACT-2013, GOYAL DIVESH & ASSOCIATES 1. PROCEDURE FOR ALLOTMENT OF RIGHT ISSUE OF SHARES:   Call a Board meeting by issue notice of meeting. (Draft Format Attached) Approve right issue including "letter ...

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Category : Corporate Law | Comments : 0 | Hits : 1614

Posted Date : 12-Sep-2014 , 04:51:13 pm | Posted By Vimmi

An associate or a fellow member, who has been in practice continuously, whether in India, or    elsewhere or an associate or a fellow who is employed as a paid assistant with a chartered accountant in practice or in a firm of such chartered accountants shall only be eligible to...

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Category : Students Zone | Comments : 1 | Hits : 7520

Posted Date : 12-Sep-2014 , 12:35:49 pm | Posted By CA Paras Dawar

Reassessment order u/s 147without first disposing off the preliminary objections raised by the assessee can not be sustained and is thus liable to be quashed   Supreme Court in GKN Driveshafts (India) Ltd. vs. ITO & Ors. (2003) 259 ITR 19 had devised the proc...

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Category : Income Tax | Comments : 0 | Hits : 367

Posted Date : 06-Sep-2014 , 11:52:26 am | Posted By CA Paras Dawar

Assessee Can Claim Reasons For Issue Of Notice U/S 148 Before Filing Of Return U/S 148.   Section 148 of the Income Tax Act, 1961 is possibly the most belligerent combat tank in the armory of Income Tax Department. This tank has been further strengthened by recent amendments by Finance A...

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Category : Income Tax | Comments : 0 | Hits : 463

Posted Date : 06-Sep-2014 , 11:51:25 am | Posted By CA Paras Dawar

Assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as deduction u/s 24(b) can be added to cost of property...

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Category : Income Tax | Comments : 0 | Hits : 649

Posted Date : 05-Sep-2014 , 05:41:37 pm | Posted By CA. KUMAR ASHUTOSH

PROCESS TO GET STATUS OF DORMANT UNDER COMPANY ACT- 2013   Section-455 of Companies Act, 2013 talks about a New Provision Calls “DORMANT COMPANY”. This concept was not there in Companies Act, 2013. Another Name of this concept by Professionals is “ASSET SHIELDING CONCEP...

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Category : Corporate Law | Comments : 0 | Hits : 644

Posted Date : 30-Aug-2014 , 03:45:06 pm | Posted By Aaditya Deshwal

The government is trying to find a middle ground to break the Goods and Services Tax (GST) deadlock. A viable compensation structure for likely revenue loss to states has become a major stumbling block. The finance ministry is now proposing a new law for addressing the states concerns which will hav...

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Category : GST | Comments : 0 | Hits : 389

Posted Date : 28-Aug-2014 , 05:16:37 pm | Posted By CA. Brijesh Baranwal

DEMAND U/S 143(1) BY INCOME TAX DEPARTMENT AND RECTIFICATION THEREOF U/S 154 Income Tax Return filing season for certain class of assessees including individuals not falling under tax audit provisions has just been over and by now the Income Tax Department (the Department) has already started pro...

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Category : Income Tax | Comments : 1 | Hits : 4158