Resolutions and Agreements to be filed with ROC - Companies Act 2013
Posted Date : 26-May-2014 , 04:03:48 pm | Posted By
CA GOURAV MURARKA
Dear Friends,
The Companies Act 1956 required certain resolutions and agreements to be registered with ROC in e-form 23 within 30 days from the date of passing or entering into it. Section 192 was the relevant section under the Companies Act 1956, which required the following resoluti...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 1615 |
 |
Test of unjust enrichment not satisfied where refund amount is shown as
Posted Date : 22-May-2014 , 07:10:54 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Test of unjust enrichment not satisfied where refund amount is shown as ‘expenditure’ and not as ‘claims receivable’ We are sharing with you an important judgment of the Hon’ble Mumbai CESTAT in the case of Hindustan Petroleum Corporation ...
Continue Reading...
Category : Excise |
Comments :
0 | Hits : 492 |
|
13 Places You Should Visit In India Before You Visit Their Counterparts Abroad
Posted Date : 19-May-2014 , 08:44:36 am | Posted By
May I Help You.
Indians are travelling like never before and going to countries all over the world. But a lot of us seem to forget that what we seek abroad, we can find as easily in our own country. This doesn’t mean that one shouldn’t travel abroad, but it does mean that one should travel within India ...
Continue Reading...
Category : General |
Comments :
2 | Hits : 2134 |
|
SC explains distinction between
Posted Date : 16-May-2014 , 02:19:43 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, SC explains distinction between “Contract for sale of goods” and “Works contract” We are sharing with you an important judgement of the Hon’ble Supreme Court of India, in the case of Kone Elevator India Private Limited Vs. State of Andhra...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 778 |
|
High Court imposes costs of Rs. 50,000 on AO for filing frivolous appeal & wasting public money & judicial time
Posted Date : 08-May-2014 , 10:42:03 am | Posted By
Rimpy
High Court imposes costs of Rs. 50,000 on AO for filing frivolous appeal & wasting public money & judicial time
Though the Bench clearly indicated to the department’s counsel that the appeal had no merit and gave the department an opportunity to withdraw, the department...
Continue Reading...
Category : Income Tax |
Comments :
1 | Hits : 441 |
|
Service Tax paid after March 1, 2013 but before enactment of VCES on May 10, 2013
Posted Date : 07-May-2014 , 06:56:18 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Service Tax paid after March 1, 2013 but before enactment of VCES on May 10, 2013 – Should be considered as paid under VCES We are sharing with you an important judgment of the Hon’ble Gujarat High Court in the case of Sadguru Construction Co. Vs. Union of ...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 538 |
|
Education Loan: Income Tax Deductions Under Section 80E
Posted Date : 05-May-2014 , 07:10:05 am | Posted By
Anita Arora
An education loan can not only fund your higher studies but also help save tax. The interest paid on the education loan can be claimed as deduction, as per Section 80E of the Income Tax Act, 1961.
Top 10 Things to Know:
The income tax benefit can only be claimed on inte...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 764 |
|
Service tax on Demurrage
Posted Date : 04-May-2014 , 08:01:14 pm | Posted By
NEHA JAIN
“Once on demurrage, always on demurrage”
It is a well known maxim developed by the shipping industry meaning once Charterers have used up their laytime and the vessel is on demurrage, all time used will fall for their account, whatever the apparent cause.
Demurrage in com...
Continue Reading...
Category : Service Tax |
Comments :
2 | Hits : 7186 |
|
Non Bailable offences under Service Tax do not have retrospective effect
Posted Date : 01-May-2014 , 11:52:12 am | Posted By
CA Bimal Jain
Dear Professional Colleague,
Non Bailable offences under Service Tax do not have retrospective effect
We are sharing with you an important judgement of the Hon’ble High Court of Calcutta, in the case of Sudip Das, {[2014] 44 taxmann.com 48 (Calcutta)} on following issue: ...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 499 |
|
Deductor can Adjust Excess TDS in Next Financial year :Major change in Etds return :FVU 4.00
Posted Date : 01-May-2014 , 07:36:32 am | Posted By
May I Help You.
Excess TDS paid can be claimed in the next quarter as per the CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011. However the circular will not be applicable to TDS on non residents falling under Sections 192, 194E, 195 of the Income Tax Act 1961.
Further as per ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 6088 |
|
Salaried employee vs. consultant: Know the tax implications
Posted Date : 28-Apr-2014 , 08:05:40 am | Posted By
CA Vijeta Verma
You have got an offer from a company to either join as an employee or a consultant. Before you decide, know the tax implications between the two options as they differ significantly.
The income received as fees from professional or technical services rendered is classified as income from bu...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1115 |
|
Difference between Commercial Invoice and Tax Invoice
Posted Date : 26-Apr-2014 , 04:47:25 pm | Posted By
Vijeta Nathani
Surprisingly it is a teaser now a days to many tax practicing people. Prior to VAT there were no such two terms get confused, but VAT advent has brought home this strange.
Commercial Invoice may be understood as the seller's bill of sale for the goods sold, specifying type of goods, quantity and p...
Continue Reading...
Category : Students Zone |
Comments :
0 | Hits : 2968 |
|
Negative List of Service Tax 2013-14
Posted Date : 21-Apr-2014 , 07:41:06 am | Posted By
Surendra Kumar Dash
Negative List of Service Tax 2013-14
Negative list of Service Tax is comprised of following 17 heads. I have given all the 17 heads of negative list of Service Tax below.
Services by Government or a local authority excluding the following services to the extent they ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1214 |
|
Filling IT Return Yourseif
Posted Date : 20-Apr-2014 , 08:35:32 pm | Posted By
Anchal
Like the most salaried people in India, if you have not sold any shares or mutual funds in the last one year; you only have to fill the simple ITR-1 Sahaj. Let us see how to prepare for and fill ITR-1 Sahaj. This is a simple one-hour procedure, and only needs basic comfort with MS Excel.
...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 724 |
|
Penalties on Auditors under New Companies Act 2013 (Section 147)
Posted Date : 20-Apr-2014 , 09:24:47 am | Posted By
Vimmi
If the auditor has contravened any of his duties, he shall be punishable as below:
• required to refund the remuneration
• pay damages to the company, statutory bodies/authorities or any other person for losses arising as a result of incorrect or misleading statements in his au...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 1377 |
|
Exemption Notification cannot be forced upon assessee
Posted Date : 19-Apr-2014 , 09:50:46 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Exemption Notification cannot be forced upon assessee – No legal bar on paying duty & availing benefit of Modvat scheme
We are sharing with you an important judgement of the Hon’ble High Court of Delhi, in the case of Commissioner of Centra...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 419 |
|
Classification of Services in Real Estate Transactions
Posted Date : 18-Apr-2014 , 01:41:27 am | Posted By
SARTHAK JAIN
CONSTRUCTION SERVICE V/S WORKS CONTRACT SERVICES
Dear Professional Colleagues and friends, the objective of this article is to discuss the mist that surrounds classification of a service into Construction Service or Works Contract Service, especially under the new service tax regime.
L...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 691 |
|
Rules of Interpretation of Services in Service Tax
Posted Date : 17-Apr-2014 , 12:11:47 am | Posted By
Sagar Gupta
Despite doing away with the service-specific descriptions, there will be some descriptions where some differential treatment will be available to a service or a class of services. Section 66F lays down the principles of interpretation of specified descriptions of services and bundled services. But b...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 690 |
|
Companies Act: Roaring time for small investors
Posted Date : 15-Apr-2014 , 08:15:43 am | Posted By
May I Help You.
Can a corporate fraud, such as the one unearthed at Satyam Computer Services, have a positive outcome for investors? The answer is yes. The scam’s magnitude and the delay in detecting it had the regulators sit up and take notice.
The new Companies Act 2013, which has taken effect from Apr...
Continue Reading...
Category : Corporate Law |
Comments :
0 | Hits : 679 |
|
Highlights On New Indian Companies Act, 2013
Posted Date : 10-Apr-2014 , 07:25:54 pm | Posted By
Vimmi
Immediate Changes in letterhead, bills or other official communications, as if full name, address of its registered office, Corporate Identity Number (21 digit number allotted by Government), Telephone number, fax number, Email id, website address if any.
One Person Company (OPC):&nb...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 1520 |
|
|
