THE CHANGING FACE OF INDIAN BANKING
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 |
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Article on Right issue of shares under Companies Act-2013
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 |
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No. Of Eligible Article Assistants Under Practicing C.A.
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 |
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Sec 147 Reassessment without disposal of preliminary objections not sustainable
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 |
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Section 148: Reason for Issue of Notice can be claimed before Filing of Return
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 |
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Simultaneous Claim of Interest on Housing loan & HRA; Deduction of Housing loan Interest against Capital Gain
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 |
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PROCESS FOR DORMANT COMPANY
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 |
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GST news
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 |
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DEMAND U/S 143(1) BY INCOME TAX DEPARTMENT AND RECTIFICATION THEREOF U/S 154
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 |
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Important Service Tax amendments applicable from 1st October, 2014
Posted Date : 27-Aug-2014 , 12:17:57 pm | Posted By
CA Bimal Jain
Important Service Tax amendments applicable from 1st October, 2014 Dear Professional Colleague, We are sharing with you certain amendments made vide recent Notifications dated August 25, 2014 issued by the Central Board of Excise & Customs (“the CBEC”):
Fixation of date of appli...
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Category : Service Tax |
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Proposed changes in Form 3CD (For Tax Audit Conducted under Section 44AB)
Posted Date : 21-Aug-2014 , 06:22:21 pm | Posted By
Vimmi
S
No.
Clause
Clause No.
Requirements
1
Whether the assessee is liable to pay indirect tax like excise duty, service tax, sales tax, customs duty,etc. if yes, please furnish the registration number or...
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Category : Income Tax |
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Find Investment Quality In The Income Statement
Posted Date : 11-Aug-2014 , 08:32:26 am | Posted By
Nimisha
To a large degree, it is the quality and growth of a company's earnings that drive its stock price. Therefore, it is imperative that investors understand the various indicators used to measure profitability. The income statement is the principal source of data to accomplish a profitability analysis,...
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Category : Finance |
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SLR cut indicates RBIs growing confidence in Government Fiscal Consolidation Intent
Posted Date : 06-Aug-2014 , 07:16:11 pm | Posted By
Nimisha
RBI cut the SLR (Statutory Liquidity Ratio) of banks by 50bps in its policy review on 5th of August 2014. Apart from this there was no change in policy rates on Repo and CRR (Cash Reserve Ratio) that were maintained at 8% and 4% respectively.
RBI also reduced the HTM (Held to Maturity) portfolio l...
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Category : Shares & Stock |
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No Service Tax Audit by Department or CAG
Posted Date : 06-Aug-2014 , 03:48:50 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, No Service Tax Audit by Department or CAG We are sharing with you an important judgment of the Hon’ble Delhi High Court in the case of Travelite (India) Vs. Union of India & Ors. [W.P. (C) 3774/2013, C.M. No. 7065/2013] on the following issue: Issue:
Whet...
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Category : Service Tax |
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KISAN VIKAS PATRA
Posted Date : 05-Aug-2014 , 05:45:17 pm | Posted By
Nimisha
Almost 30 months after the Centre discontinued the Kisan Vikas Patra (KVP), Finance Minister Arun Jaitley announced its revival in his Budget 2014. This instrument was earlier discontinued due to fears of Money Laundering as it was a Bearer Instrument and both the amount invested and the amount rece...
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Category : Budget |
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What Lenders Look On Your Credit Report
Posted Date : 04-Aug-2014 , 04:44:58 pm | Posted By
Nimisha
What Lenders Look At On Your Credit Report
What do lenders consider when they look at your credit report? It’s a simple question with a complicated answer, as there are no universal standards by which every lender judges potential borrowers. Of course, there are some items that will d...
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Category : General |
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Deputation of employees on cost-sharing basis does not fall under Supply of Manpower Services
Posted Date : 01-Aug-2014 , 05:49:31 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Deputation of employees on cost-sharing basis does not fall under Supply of Manpower Services We are sharing with you an important judgment of the Hon’ble High Court of Gujarat in the case of Commissioner of Service Tax Vs. Arvind Mills Ltd. [(2014) 45 taxmann.co...
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Category : Service Tax |
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Old vs. New Tax Audit Report - A Comparision
Posted Date : 29-Jul-2014 , 06:02:51 pm | Posted By
CA Pardeep Chanana
Changes made in Tax Audit Report Assessment Year 2014-15
Sr. No.
Particulars
Old Report
New Report – Changes are reflected by Bold Letters
1.
FORM NO. 3CA
3. In * my/our opinion and to the best of * my/our information and according to explanations give...
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Category : Income Tax |
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Know TDS Filing Due Dates & Penalties for Non/Wrong Filing of TDS Returns
Posted Date : 29-Jul-2014 , 12:43:27 pm | Posted By
Vimmi
Below are the important due dates for filing of TDS Return, but the same are subject to extension by the CBDT for specific quarters of a particular financial year.
To avoid any mistake it is very important to know the pertinent form number applicable of each TDS return filing, such as;
&...
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Category : Income Tax |
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TDS Rates and Threshold Limit for Financial Year 2014-15
Posted Date : 29-Jul-2014 , 12:35:48 pm | Posted By
Vimmi
Find the table below for the TDS (Tax Deduction at source) rates and threshold limit for financial year 2014-15 or assessment year 2015-16. In this table there is complete list of the payment on which TDS is deducted, threshold limit, assessee type (tax payer) and rate of TDS.
Also note; Threshold ...
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Category : Income Tax |
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