A Faster Way to Exit Route For the Defunct Companies – Shut down your Defunct Companies The Scheme provides an easy route for the defunct companies to make an application to the ROC to remove their names from the ROC register which has not been doing any business activity in the previous financial year, commenced …
EASING NORMS FOR CERTAIN M&A ACTIVITY – COMPETITION COMMISSION OF INDIA (CCI) The Competition Commission of India (“CCI”) amended the CCI (Procedure in regard to transaction of business relating to combination) Regulations, 2011 (“Merger Control Regulations”) easing norms for certain M&A activity. Regulation 4 exempts certain transactions from the radar of CCI. These transactions are …
TYPES OF LOANS AVAILABLE IN INDIAN MARKET PERSONAL LOAN: We offered our services in providing personal loans for any purpose. Our wide expertise in this area allows us to offer you the helping hand with immediate effect right from your request. Our personal loans are meant for business as well as for personal purpose. Our …
A NOTE ON NEW COMPANIES ACT, 2013 The long awaited new Companies Act, 2013, after a lot of expectations and speculations, was finally notified in the Gazette of India. The new law, which is more comprehensive than its predecessor with 470 sections spread over 29 chapters and 7 schedules, replaces the six decade old Companies …
Schedule II of Companies Act, 2013 Section 123 of the Companies Act, 2013 requires every company to provide depreciation in accordance with the provisions of Schedule II. This section has come into force with effect from 1st April 2014 implying that the Companies will be required to compute depreciation in their financial statements for the …
Mere book adjustment can’t be deemed as contravention of Sec. 269SS/269T Section 271D, read with sections 271E, 269SS and 269T, of the Income-tax Act, 1961 – Penalty – For failure to comply with section 269SS (Book adjustment) Making book adjustment of funds by assessee firm with sister concern without making payment of cash, could not …
Summary of changes made in Passed Finance Bill, 2015. On April 30, 2015, the Lok Sabha passed the Finance Bill. The Bill which was presented originally in the Lok Sabha on February 28, 2015 is not passed in its original shape. Various changes have been made in the Bill. New amendments are proposed, some proposed …
REGISTRATION OF A COMPANY BY FILING JUST ONE FORM – OFFICIAL AMENDMENTS IN THE COMPANIES (AMENDMENT) BILL, 2014 ( INC-29: STARTING MAY 2015) The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :- Doing away with the requirement …
Companies (Amendment) Bill, 2014 The Union Cabinet today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :- Doing away with the requirement for filing a declaration by a company before commencement of business or exercising its borrowing powers and rationalizing the procedure for laying draft notifications granting exemptions …
Mere liquidation of shares in short span of time doesn’t mean that assessee was doing business in shares Section 45, read with section 28(i), of the Income-tax Act, 1961 – Capital gains- Chargeable as – Business income vs Capital gains – Shares dealings Circulars and Notifications: Circular No. 4/2007, dated 15-6-2007. Where assessee made investment in …