On 23rd October, 2012, R & A celebrated its 16th Foundation Day. Every year the event is celebrated in great grandeur. However this year it was decided to have it as a close knit family affair. The occasion was commemorated with the customary Pooja in the morning. In appreciation of the achievements of the members …
LABOUR & OTHER COMPLIANCE’S FOR THE MONTH OF NOVEMBER 2012 S. No Compliance Forms to be Filed Relevant Law Due Date 1 Excise Duty payment GAR 7 Central Excise Rules, 2002 5thNovember, 2012 2 Payment of service tax to the department GAR 7 Service Tax Rules, 1994 5thNovember,2012 3 Profession Tax Monthly Return Form V …
Compliance Calendar For the Month of November, 2012 Read More »
Word: “Contempt” Meaning: A failure to show appropriate respect for something that other people consider to be important. Example:A person held in “contempt” of the court may be incarcerated. Pronounciation: con+tempt Word: “Incarcerate” Meaning: to detain a person in prison, typically as punishment for a crime (custodial sentence). Example: He is currently incarcerated in spain …
In the previous issue we have been discussing regarding the Section 2(30) of the Companies Act 1956, we shall continue to deal with the same Section in this issue also. Section 2(30) reads as under: “Officer includes any Director, Manager or Secretary or any person in accordance with whose directions or instructions the Board of …
It is indeed a great privilege for me to announce that “R & A” completed its 16th Foundation Day on 23rd October, 2012. The entire R & A family actively participated in the event with great pride and joy. The occasion began with a Pooja followed by a blood donation drive and a grand lunch. …
Introduction The present Companies Act in India was enacted in 1956 and has since been amended nearly 20 – 25 times by incorporating several major and minor alterations and also effecting several deletions. Moreover, over the years hundreds of circulars and notifications have also enlarged the scope of the Act. A view has emerged that …
Position of Company Secretaries under the Companies Bill, 2011 Read More »
Export of Goods and Services – Simplification and Revision of Softex Procedure – The simplified and revised Softex procedure was introduced by RBI vide A.P. (DIR Series) Circular No.80 dated February 15, 2012 and since its introduction, the revised procedure for export of software services has been running successfully at the 5 designated centres. RBI …
Purpose: An act to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money laundering. Background: The statutes prevailing before the Prevention of Money Laundering Act, 2002 are: Criminal Law Amendment Ordinance (XXXVIII of 1944) The Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 Narcotic Drugs and Psychotropic …
Section 108 of the Companies Act,1956 read with Section 2(47) of the Income Tax Act, 1961 – transfer of shares – assessee transferred pledged shares and showed capital gains as well as loss – AO rejected the claim on the ground that pledged shares cannot be transferred – whether tenable- Held, No. Brief facts …
Assistant Commissioner Of Income Tax V. Biraj Investment (P) Ltd [Guj] Read More »
Case Decided on – 11.10.2012 Issue Involved: In this case, the issue involved was that if there is a default on the part of a private limited company in payment of its income tax dues to the Income Tax Department then the liability of the company can be shifted to its director(s) u/s 179 of …
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