LOB CLAUSE BETWEEN INDIA-SINGAPORE IS NOT APPLICABLE IN CASE OF PAYMENT IS MADE TO A BANK ACCOUNT IN THIRD COUNTRY LOB CLAUSE BETWEEN INDIA-SINGAPORE IS NOT APPLICABLE IN CASE OF PAYMENT IS MADE TO A BANK ACCOUNT IN THIRD COUNTRY IF THE SAID INCOME WAS TAXABLE IN SINGAPORE ON ACCRUAL BASIS AND NOT ON REMITTANCE …
RELIEF CANNOT BE GRANTED IF ASSESSE DOES NOT COMPLY WITH PROVISIONS OF VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME VCES, 2013 Recently on 1st September, 2015, Hon’ble Bombay High Court dismissed Writ petition no. 1735 of 2015, seeking availment of benefit of ST- Voluntary Compliance Encouragement Scheme (VCES), 2013, by the petitioner in the matter of Sunil Agnihotri Productions vs. …
Corporate tax Update for the Month : Company Law: Query: Is sitting fees payable to a director who participates in a meeting through video conferencing? Answer: Yes, sitting fee is payable to a director who participates in a meeting through any of two modes viz. in person or through video conferencing or any other audio visual means. …
KEY POINTS ON ANNUAL FILINGS TO ROC – MGT-14 for Approval of Accounts & draft board report a. Pvt Co. – Not Required b. Public Co. – Required New forms AOC-4 (earlier 23AC/23ACA) and MGT-7 (earlier 20B) are introduced for annual filings. Board Report shall include various disclosures as per sec 134 & other section …
POLICIES, PROCEDURE AND LEGAL FRAMEWORK – FOR FOREIGN DIRECT INVESTMENT IN INDIA India is one of the fastest growing economies since last few years and witnessed a large amount of foreign investment in various sector. The government has formulated its Policy aiming towards attracting more and more funds considering the domestic business concerns simultaneously. This article …
STEPS AND PROCEDURE UNDER SERVICE TAX REGISTRATION Every person liable to pay service tax is required to register himself by making an application to SCE as per section 69. The service provider before registering himself shall ensure that he has crossed the exemption limit of registration for the small service provider which is Rs. 10 …
PROVISION RELATING TO APPOINTMENT OF KEY MANAGERIAL PERSONNEL- LAW AND PROCEDURE UNDER THE COMPANIES ACT 2013 1. Appointment of Key Managerial Personnel : As per Section 203 (1) read with Rule 8 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company and every other public company having a paid-up share capital of ten crore rupees …
FEDERAL OR UNITARY/CHARACTERISTICS OF INDIAN CONSTITUTION It has been the matter of debate among the scholars that whether the constitution of India is completely federal or unitary in nature. But actually Indian constitution contains both features of a federal constitution and unitary constitution. But for the very clear picture of this conclusion first of all …
CAPITAL GAINS TAX RELIEF ON GOLD BONDS IS EXPECTED TO BE TAKEN UP IN THE NEXT BUDGET Capital gains tax relief on gold bonds is expected to be taken up in the next budget. CBEC has made Custom Duty Free Allowance to Rs.45000 for passengers of Indian origin and foreigners of over 10 year of …
What are the Annual Filling Under Company Act Following forms to be filed with ROC: MGT-14 (For approval of financial Accounts and Board’s Report) AD T -1 (For appointment of Auditor) AOC-4 or AOC- 4 XBRL (For filing of Notice, Directors’ Report and Financial Statement) MGT-7 (For Annual Return) 1. Form MGT-14: (Need to file …