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 | Comments : 0 | Hits : 798

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 | Comments : 0 | Hits : 367

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 | Comments : 0 | Hits : 1415

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 | Comments : 0 | Hits : 451

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 | Comments : 0 | Hits : 367

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 | Comments : 0 | Hits : 2654

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 | Comments : 0 | Hits : 808

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 | Comments : 0 | Hits : 455

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 | Comments : 0 | Hits : 454

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 | Comments : 0 | Hits : 4708

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 | Comments : 0 | Hits : 326

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 | Comments : 0 | Hits : 442

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 | Comments : 0 | Hits : 428

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 | Comments : 1 | Hits : 2659

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 | Comments : 0 | Hits : 713

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 | Comments : 0 | Hits : 299

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 | Comments : 0 | Hits : 676

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 | Comments : 0 | Hits : 946

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 | Comments : 0 | Hits : 836

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 | Comments : 0 | Hits : 925

Posted Date : 25-Jan-2017 , 07:53:20 pm | Posted By Himanshu

As name indicates Benami property means a property without a name. In such  kind of a transaction the person who pays for the property does not buys it under his/her own name and motive behind such a transactions of this nature to evade payment of tax. Any asset movable or immovable, any secur...

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Category : Income Tax | Comments : 0 | Hits : 472

Posted Date : 24-Jan-2017 , 09:17:41 pm | Posted By PRIYA GARG

All about One Person Company(OPC)       The concept of One Person Company [OPC] is a     new introduction in the companies act 2013 which allows  a sole person to incorporate a company on its own with concessional/relaxed requirements under the...

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Category : Corporate Law | Comments : 0 | Hits : 835

Posted Date : 23-Jan-2017 , 02:14:25 pm | Posted By Prabhash Choudhary

The Concept of supply Earlier, taxable event under the various indirect tax laws was different like manufacturing under excise laws, sale under VAT laws, and provision of services under service tax laws… to subsumed all these taxable event, the concept of supply has been introduced. The taxab...

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Category : GST | Comments : 0 | Hits : 386

Posted Date : 20-Jan-2017 , 12:45:02 am | Posted By Arpit Verma

Basic Overview on GST Introduction. Introduction of Goods & Service Tax (GST) in India required an amendment in the Constitution to bring concurrent powers to both the Central & State Government so that both the Government could make law & impose GST on transaction of supply of Goo...

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Category : GST | Comments : 0 | Hits : 1232

Posted Date : 16-Jan-2017 , 10:55:58 am | Posted By Bhinang Tejani

Knowledge of IT would be an integral part of auditing now like a good icing on the cake of traditional competencies in auditing. Lets discuss some of the key issues future auditors may face: 'Big data' is an extremely large data sets of company that may be analysed computationally to reveal pat...

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Category : Auditing | Comments : 0 | Hits : 1167

Posted Date : 14-Jan-2017 , 10:32:03 pm | Posted By Pranshu Bansal

The greatest changes to ever occur in the Indian Economy in the last few decades are ‘Demonetization of Rs. 500 and Rs. 1000 currency notes’ and ‘The Introduction of GST’. Economists believe that these two steps, amplifying each other’s effects, will be a game-changing ...

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Category : GST | Comments : 0 | Hits : 1069

Posted Date : 14-Jan-2017 , 07:53:47 pm | Posted By Anshu Agarwal

Q1. What is TDS/ TCS? TDS (tax deduction at source)/ TCS (tax collection at source) is a means of collection of Income Tax. Under TDS, certain amount of tax is deducted by a payer from the income of payee according to applicable law of the income tax. Whereas under TCS, certain amount of tax is coll...

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Category : TDS | Comments : 0 | Hits : 1336

Posted Date : 10-Jan-2017 , 02:17:17 pm | Posted By Pradeep Jain

Provision of Exchange Facility of SBN : 08.11.2016 RBI/2016-2017/112     the SBN of aggregate value of ₹ 4,000/- or below may be exchanged for any denomination of bank notes having legal tender character, with a requisition slip in the format specified by the Res...

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Category : Auditing | Comments : 0 | Hits : 1146

Posted Date : 05-Jan-2017 , 10:58:06 pm | Posted By Prabhash Choudhary

Pradhan Mantri Garib Kalyan Yojana, 2016 comes into force w.e.f. the 17th day December, 2016 and a person may make declaration under this scheme the 31st day of March, 2017.   The salient features of the Scheme are as under: (i)         &nbs...

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Category : Income Tax | Comments : 0 | Hits : 996

Posted Date : 30-Dec-2016 , 06:51:01 pm | Posted By Sourabh Mittal

Unbiased critical analysis of Demonetization “Jab Irada Bana liya, Unchi Uddan ka, Fir Dekhna Fizul hain, kad aasman ka”    As one of the biggest decision in the history of Independent India, Prime Minister Mr.Narendra Modi marks the evening of 8th November 2016 with his sur...

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Category : Income Tax | Comments : 0 | Hits : 944