[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, New Delhi, the 17th November, 2014 No. 110 / 2014 – CUSTOMS (N.T.) Notes and conditions: (2) The General Rules for the Interpretation of the First Schedule to the said Customs Tariff Act, 1975 shall mutatis mutandis apply for … Read more
Following is the format of the article of association for company limited by shares as per the Table F in the first schedule of the company Act 2013. Preliminary 1. a. Regulations in Table – F in the first schedule in the CompaniesAct, 2013 shall apply to this company except in so far as they … Read more
Reserve bank of India has issued the notification as on 14th August 2014 and instructs the all commercial and co-operative banks for rationalization of number of free ATM transaction. The number of the ATMs is increased to 1.6 lacks across the country by March 2014. Few banks and Indian Bank’s Association had approached the RBI … Read more
As per Schedule I of the Company act 2013 Memorandum of association of company limited by shares has six clauses, which are described below:- 1) Name Clause: – Under this clause name of company is stated, as approved by MCA. 2) Registered Office Clause: – The memorandum must mention the state in which registered office of the … Read more
As a part of ICAI’s continuous drive to uphold the credibility, integrity and image of the accountancy profession in India, the regulatory mechanism of ICAI is working assiduously. Disciplinary Directorate of ICAI has been taking disciplinary action against its errant members as per the provisions of the Chartered Accountants (Amendment) Act, 2006 and Rules framed … Read more
File No. ICAI/ClTAX/2014-15/Rep/02 THE ]INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) ‘ICAI Bhawan’, Indraprastha Marg, New Delhi – 110 002. INDIA Dated: 13/11/2014 Sh. Ashish Abrol Directorate of Income Tax (Systems), Aayakar Bhawan, Vaishali, Sector-3, Ghaziabad, 201010, Uttar Pradesh Subject: Representation Form No. 3CEB for reporting of International … Read more
Abatement means reduction or decrease of amount from taxable value of services. Service provider has to pay service tax after arriving at appropriate value of service as per section 67 of Finance Act, 1994 read with the Service Tax (Determination of Value) Rules, 2006. The Government can provide for reduction in the value of any … Read more
I take pride in telling my CMA professional colleagues, that if there is one area where CMAs beat hands down to other professionals (read chartered accountants, whom we are always jealous of and therefore continue to benchmark) colleagues it is “processes” Having privileged to work on processes and process manual in five companies by now, … Read more
A person responsible for making payment of income which is covered by provisions TDS (Tax Deducted at Sources), is required to deduct tax at source and deposit the same to the Government within the prescribed time. A person who deducts TDS is called as ‘deductor’ and person whose tax has been deducted is called ‘deductee’. Tax will deduct on … Read more
What is new composition scheme for MVAT dealer and its applicability? Deputy Chief Minister of the Maharashtra state announced the new composition scheme for retailers in his budget speech. The sales tax department comes with the trade circular No. VAT/AMD/2014/8/ADM-8 dated 20/09/2014 regarding the new retailer’s composition scheme. The old composition scheme is expired with effect from 30th September … Read more