Vodafone Case and Effect of Amendments by Finance Act, 2012

It was really a great matter of fact & concern that the Indian Government have to amend the sections with a retrospective effect, for the  purpose to made tax payable to Vodafone International Holdings in India who have to deduct TDS amount while purchasing the CGP Holding in Mauritius from Hutchison Group. Here, I present the … Continue reading Vodafone Case and Effect of Amendments by Finance Act, 2012

Changes in Tax Audit form 3CD for A.Y. 2014-15 and onwards

Purview This time, Assessment Year 2014-15 has really brought a excess grace period for the Tax Assessee who are liable to maintain their books of accounts as per Section 44AA of Income Tax Act, 1961 and who are required to audit their books under Section 44AB, 44AD and 44AE of the said Act. It really … Continue reading Changes in Tax Audit form 3CD for A.Y. 2014-15 and onwards

Adjustment of Share Application Money

Notification: Well as per New Companies Act, 2013 new provision has been implemented regarding the Share Application Money, pending for allotment.  As per Section 42(6) of the Companies Act, 2013, “any allotment of securities shall be made within 60 days from the receipt of application money and in case the company is not able to allot … Continue reading Adjustment of Share Application Money

New Format of Tax Audit Report for A.Y. 2014-15 and onwards

From the A.Y. 2014-15, Government has prescribed a New Format of Tax Audit i.e. Form 3CD. Hence, the additional details required for the New Format is duplicated below. New format of tax audit 2014 Additional details required as per New Tax Audit form:   Whether the assessee is liable to pay indirect tax like excise … Continue reading New Format of Tax Audit Report for A.Y. 2014-15 and onwards

A review on – Equal Remuneration Act, 1976

Introduction: Its not only the question to management, ethically also its hard to endeavor that appointment to a job is based on the discrimination on sex categories. Not even that nowdays the work portfolio is also prepared on the same basis. And the same case is with the remuneration selection and distribution. What actually I … Continue reading A review on – Equal Remuneration Act, 1976

Outlook of Related party as per Companies Act, 1956 & 2013

Related Party Transaction (notified)   Related party with reference to a company, means: [Sec 2(76)] a director or his relative; a key managerial personnel or his relative; a firm, in which a director, manager or his relative is a partner; a private co. in which a director or manager is a member or director; a public … Continue reading Outlook of Related party as per Companies Act, 1956 & 2013