Companies Act
Issue of shares under Companies Act-2013 by Private Limited Companies
Issue of shares under the Companies Act’2013 by Private Limited Companies 1) Methods of issue of shares: A) Private Placement (Section…
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Income Tax
Finance Ministry hikes rate of Custom Duty on Vegetable Oils
The Central Government vide Notification No. 34/2014-Customs dated 24 th December 2014 has increased the customs duty on crude and refined vegetab…
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Tax Deducted at Source
CPC (TDS) communication: Significant change in processing of Quarterly TDS Statements
CPC (TDS) has issued a communication to deductors in which it has stated about a significant change in processing of Quarterly TDS Statements. The …
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Tax Deducted at Source
Impact & action to be taken in case of PANs either “Not Available” or “Invalid” in Quarterly TDS statements
Centralized Processing Cell (TDS) has observed from its records that though deductors have reported deductees with more than Rs. 50,000 of TDS in Q…
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Tax Deducted at Source
FAQs on Online Correction of TDS Return
Can BIN details be corrected through online correction? Yes, BIN details in the statement can be corrected through “Challan Correction” option un…
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Income Tax
How to file Income Tax Return & Tax Audit report as a legal heir
Ques: How is the income tax return of a deceased or dead person filed? Ans: The Income Tax return of a deceased person is filed on his/her behalf…
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Tax Deducted at Source
New Version of TDS FVU 4.5 & FVU 2.141) Whats New
On December 20, 2014, NSDL has released the new version of File Validation Utilities (FVU version 4.5 and FVU version 2.141) for quarterly eTDS/TCS…
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Sales Tax
Which Taxes Covered under CGST & SGST
Recently, The Union Cabinet approved on 17th December,2014 the proposal for introduction of a Bill in the Parliament for amending the Constitution …
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Tax Deducted at Source
How to use Digital Signature on TRACES (TDS)
The Centralized Processing Cell (TDS) has released a new feature on its web-portal TRACES , where a Digital Signature Certificate (DSC) can be …
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Tax Deducted at Source
CBDT circular on calculation of TDS on salary for FY 2014-15
CBDT has released Circular no. 17/2014 which contains the rates of deduction of income-tax from the payment of income chargeable under the head “S…
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Tax Deducted at Source
Online resolution of ‘Short Payment default’ on account of unmatched challans
TDSCPC has issued new instruction under which it has been directed to the the Tax deductors that if there are Short payment in a statement filed by…
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Income Tax
Deduction u/s 80GGA
Deduction in respect of certain donations for scientific research or rural development An assessee (other than an assessee whose gross total …
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Ministry of Corporate Affairs
Procedure for commencement of Business under Companies Act, 2013
Under Companies Act 2013, the date of incorporation of a company cannot be the date of commencement of business. From the point of commencement of …
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Service Tax
PROCEDURE OF SERVICE TAX REFUND/EXEMPTION TO SEZ-REG.
F. No. B1/6/2013-TRU Dated- 25th November, 2014 Government of India Ministry of Finance Department of Revenue Tax Research Unit North Blo…
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Tax Deducted at Source
TDS Statements filed for Q 1, FY 2014-15, not filed yet for Q 2, FY 2014-15
CPC (TDS) has issued a communication to all deductors who have filed TDS Statements for Q1, FY 2014-15 but not filed yet for Q2 as of November 1, …
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Ministry of Corporate Affairs
Company Law Settlement Scheme 2014 extended upto 31.12.2014
Ministry of Corporate Affairs, Government of India has issued General Circular No. 44/2014 dated 14th Nov., 2014 regarding extension of date of C…
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Tax Deducted at Source
CPC (TDS) communication to Govt. Deductors for “Mismatch in BIN” reported in TDS Statements
Dear Deductor, Centralized Processing Cell (TDS) has observed substantial cases of mismatch in Book Identification Number (BIN) in Quarterly TDS…
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Tax Deducted at Source
Online Correction Resolution for overbooked TDS Challan
Income Tax Department has raised demand on account of Short payment of TDS challans. After checking it has been found that some demands have been i…
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Tax Deducted at Source
FAQ on Form16B (TDS Certificate on Sale/Purchase of Property)
1. What is Form 16B? Form 16B is the TDS certificate to be issued by the deductor (purchaser/buyer of immovable property) to the deductee (Seller…
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Income Tax
Penalty order passed U/S 271C for non-deduction of TDS, beyond period of 6 months from date of reference for imposition of penalty would be barred by limitation
Recently, ITAT Jaipur Bench in M.D.S. Universityvs. Assistant Commissioner of Income-tax held that, after the expiry of the financial year in which…
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Tax Deducted at Source
CBDT Issues Instructions to Its Field Offices Regarding Endeavour Towards a Non-Adversarial Tax Regime
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes 7th November, 2014 CBDT Issues Instructions to Its F…
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Ministry of Corporate Affairs
How to File Form ADT-1 (Auditor Appointment) with ROC
Form ADT-1 is required to be filed for auditors appointed under Section 139(1) of the Companies Act, 2013 read with Rule 4(2) of the Companies (Aud…
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Deduction u/s 80GG
In computing total income, an assessee is allowed a deduction in respect of expenditure towards payment of rent for any furnished or unfurnished ac…
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Tax Deducted at Source
CBDT noticed 5,09,898 taxpayers have not filed ITR for AY 2014-15
CBDT has noticed that 5,09,898 taxpayers who have submitted an e-return for AY 2011-12 or 2012-13 or AY 2013-14 (Upto 20th October 2014) with retur…
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Others
How to Stop Candy Crush Facebook Notifications
If you are sick of getting Candy Crush Facebook notifications from friends there is an easy way to stop the constant begging for lives and moves th…
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Service Tax
Service Tax on activities related to Inward Remittance
Earlier, department has issued Circular No. 163/14/2012-ST dated 10 th July, 2012 on the issue of levy of service tax on activities involved in t…
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Offers
Tally.ERP9 Multi User Giveaway - 3
Now we again come back with giveaway of Tally.ERP9 Software. This time we provide multi user Tally.ERP9 Software worth Rs. 54000/-. But is not to…
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Tax Deducted at Source
CPC Directs to TAX Deductors to followup payment of "TAX Deducted" with stipulated time
You may be awaree that, inaccordance with the provisions of Rule 30 of the Income Tax Rules, 1962; all sums deducted in accordance with the provisi…
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Income Tax
File Form 15G-15H details in ETDS return Form 26Q
As per Income tax rules/Act Deductor is required to file form 15G /15H in ETDS return form 26Q. TDS CPC has issued advisory to banks to file detail…
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Offers
IPhone 6 - Prebooking only on Flipkart
IPhone 6 - Prebooking only on Flipkart A Unique and very stylish phone. This phone is now available in India very soon only on Flipkart.com.…
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Ministry of Corporate Affairs
MCA tweaks norms for DIN, excludes requirement of PAN in data bank of eligible independent directors
COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) AMENDMENT RULES, 2014 - AMENDMENT IN RULES 6, 9, 10, 11, 12; INSERTION OF RULE 10A, FORMS DI…
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Tax Deducted at Source
CBDT mandates issue of nil TDS certificate to deductor and lower TDS certificate to recipient of income
As per the Provision of the Income Tax Act, 1961 ('the Act'), CBDT has issued a notification on 24th September 2014 regarding issuing of TD…
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Income Tax
CBDT extends return of Income / ITR Due date to 30.11.2014
Due Date for filing of return of Income for Assessment Year 2014-15 Extended from 30th September, 2014 to 30th November, 2014 in Specified Cases …
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Income Tax
Income Tax 8th Amendment regarding Depreciation w.e.f. 01.04.2014
CBDT has issued a notification regarding depreciation on Machinery and Plant w.e.f. 01.04.2014 which as is under MINISTRY OF FINANCE (Departmen…
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Ministry of Corporate Affairs
Some Major Points of Companies Act 2013
Some very major points about Companies Act 2013 Immediate concern w.e.f. April 1, 2014 W.R.T. Companies Act 2013 Appointment of CS for publi…
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Income Tax
Deduction U/s 80EE - Deduction of Interest on Loan Taken for residential house property
Deduction in respect of interest on loan taken for residential house property [Section 80EE, applicable from assessment year 2014-15] The provi…
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Income Tax
No TDS liability of assessee on fees charge by NR Bank
Where a Foreign Bank charged certain sum terming it as interest on an Indian Bank in process of negotiating letter of credit on behalf of its custo…
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Service Tax
Service Tax Ready Reckoner - 9th Edition
Service Tax Ready Reckoner, 9th Edition Author: CA. Ashok Batra (One of the Biggest CA of India on Service Tax Matters) Publisher: CCH India …
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Companies Act 2013 with Companies Rules & Forms
Meri Pustak launch a book on Companies Act, 2013.
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Income Tax
Gujarat High Court directs CBDT to extend due date for filing of ITR to 30-11-2014 subject to Sec. 234A interest
The CBDT vide Order [F.NO.133/24/2014-TPL], dated 20-8-2014 had extended the due date for filing of tax audit report to Novembe…
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Income Tax
ITR Filing due date Extend to 30.11.2014 for J&K Assessees for AY 2014-15
CBDT Extends due date for filing of Income Tax Return by two months from 30.9.2014 to 30.11.2014 for Income Tax Assessees in State of Jammu & K…
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Tax Deducted at Source
Useful Handbook on TDS/TCS deductors or collectors by TRACES for AY 2015-16
The TDS - Centralized Processing Cell has been published a Hand Book for TDS deductors or TCS Collectors which is very useful for AY 2015-16.
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Tax Deducted at Source
TRACES remind to All Deductors Regarding Q1 for AY 2015-16
As per the records of the Central Processing Cell (TDS), you have filed TDS Statements for Q1, FY 2013-14, however, no TDS Statements have been fil…
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Income Tax
Service Tax
Changes in Service Tax Rate on Works Contract w.e.f. 01.10.2013
Service Tax on service portion in Works Contract (effective from 1st October, 2014) Service portion in the execution of a work contract is s…
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Sales Tax
Regarding waiving off of penalty under the Amnesty Scheme
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002 No.F.3(399)/Po…
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Income Tax
E-TDS Requirement details in Form 3CD or 3CB Form
Now-a-days, Income Tax Returns are being submitted for the Financial year 2013-14 or Assessment year 2014-15 which are required to be got audited u…
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Income Tax
Income Tax Deduction U/s 80TTA
Section 80TTA has been inserted with effect from the assessment year 2013-14. It provides a deduction up to Rs. 10000 in aggregate to an assessee (…
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DVAT
Reversal of Input Tax Credit under Section 10 of the DVAT Act, 2004
GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH) VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002 …
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Ministry of Corporate Affairs
Board Resolution - When a Director Died - As per Companies Act, 2013
Now we present Board Resolution for cessation of Director whom died. As per new Companies Act, 2013, Form DIR-12 is to be filed in case of resignat…
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Provident Fund
Latest Amendments in Provident Fund w.e.f. 01.09.2014
Latest amendments in Provident fund is that who on or after the 16th November, 1995, become a member of Employees' Provident Fund Schem…
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Ministry of Corporate Affairs
Form ADT-1 in Word Format - For appointment of Auditor as per companies act 2013
After Companies Act 2013 is applicable, lots of forms is changed. Some forms (attachment with ROC EForm) is not available with MCA Website. ADT-1 i…
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Income Tax
Income Tax Scrutiny Criteria for Financial Year 2014-15
Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15. Instruction No. 6/2014 Dated- 2nd of September, 2014 Subj…
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Tax Deducted at Source
NIL TDS intimation to Deptt.
This article is applicable to all persons having the TAN No. (for TDS deduction purposes) Currently, if there is no TDS to be deducted, no action i…
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Tax Deducted at Source
Deduction of Tax from Salary U/s 192
Any person responsible for paying any income chargeable under the head "Salaries" is required to deduct tax at source on the amount payab…
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Service Tax
Changes in Service Tax Rules & Negative List w.e.f. 01.10.2014
Service tax Notification no. 18/2014-ST & 19/2014- ST dated 25th Aug'14 Effective date of amendment-1st Oct'14
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Income Tax
Section 80CCD-Deduction New Pension Scheme
Section 80CCD allows an employee, being an individual employed by the Central Government or any other employer, on or after the 1-1-2004, a deducti…
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Service Tax
12% + Rs 200 Off on Service Tax Law and Procedure, Finance (No.2) Act, 2014 Special Edition
The most authoritative commentaries on Law & Procedure of Service Tax, duly updated for all recent amendments & notifications. The book…
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Income Tax
Taxmann Ready Reckoner AY 2015-16 - 25% Discount
Big Discount provided by Meripustak.com and Tally Knowledge for professionals and accountants. Heavy discount on all tax related & Legal Account…
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Income Tax
Income Tax Deduction U/s 87A - Rs. 2000 Special Rebate
With a view to providing tax relief to the individual taxpayers who are in lower income bracket, a rebate is provided for under section 87A. T…
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Service Tax
Appeal cannot be dismissed due to Unauthorised Signature
Hon’ble High Court of Gauhati in the recently concluded case of Pawan Entreprise v. Union of India (2014) 47 taxmann.com 197 (Gauhati) held th…
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Income Tax
How to Calculate Capital Gains and What is Indexation?
In this post we will learn How to calculate Capital Gains or Losses . A lot of people make mistake in this . If you buy a house in 1995 at Rs 10 la…
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Service Tax
NEW EXEMPTIONS IN SERVICE TAX
SERVICES BY AUTHORIZED PERSONS / SUB-BROKERS Vide Notification No. 03/2014-ST dated 03.02.2014, a retrospective exemption from service tax payabl…
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Income Tax
Due date for filing Tax Audit Report for AY 2014-15 extended to 30.11.2014
CBDT extended due date for furnishing Tax Audit report u/s 44AB of the Income Tax Act, 1961 for AY 2014-15 from 30.09.2014 to 30.11.2014 in case of…
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Ministry of Corporate Affairs
Dividend Criteria as per Companies Act, 2013
The 2013 Act proposes to introduce significant changes to the existing provisions of the 1956 Act in respect of declaration of dividend. The change…
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Ministry of Corporate Affairs
Section 149 of the Companies Act, 2013
Section 149 of the Companies Act, 2013 brings out the following changes regarding Board of Directors of a company. WOMEN DIRECTORS 1) Every li…
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Ministry of Corporate Affairs
Management and Administration as per Companies Act 2013
The 2013 Act also intends to improve corporate governance by requiring disclosure of nature of concern or interest of every director, manager, any …
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Ministry of Corporate Affairs
Features of MCA Company Law Settlement Scheme, 2014
Ministry of Corporate Affairs on 12th of August has via its Circular Number 34/2014 has started the Company LawSettlement Scheme, 2014. The said…
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Ministry of Corporate Affairs
STEP BY STEP PROCESS TO INCORPORATE PRIVATE LIMITED COMPANY UNDER COMPANIES ACT 2013
With the Enactment of New Companies Act, 2013 all the Forms , Documents , Fees and Other requirements relating to Company Incorporation have chang…
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Income Tax
Govt. TDS Deductors must quote AIN details in TDS Statements
CPC (TDS) asks government deductors to quote AIN details in TDS Statements. The letter issued by CPC (TDS) is as follows:
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Income Tax
Now E-Filing of Income Tax Return Facilities through Banks - IT
Income Tax Department is happy to announce the facility of Direct Login from Corporation Bank, Union Bank of India and Oriental Bank of Commerce…
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Income Tax
Income Tax Slab for FY 2014-15 AY 2015-16
If you are searching for the income tax slab or income tax rates for A.Y. 2014-15 or A.Y. 2015-16 then you are on right place as we are going to li…
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Ministry of Corporate Affairs
Share Capital & Debenture - As per Companies Act, 2013
The chapter on share capital and debentures introduces some key changes in the 2013 Act. To illustrate, the 2013 Act does not give any cognizance t…
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Ministry of Corporate Affairs
Incorporation of New Company, As per Companies Act, 2013
The 2013 Act introduces a new form of entity ‘one-person company’ and incorporates certain new provisions in respect of memorandum and articles of …
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Ministry of Corporate Affairs
A Review - Companies Act, 2013
The 2013 Act has introduced several new concepts and has also tried to streamline many of the requirements by introducing new definitions. This cha…
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Income Tax
Solutions Regarding Legal Heir in Income Tax
How to Register as a Legal Heir on Income Tax Website? Problem : What all document do I need to attach as a ZIP file during registering mysel…
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