How to keep books of account as per new companies act

As per New Companies Act, 2013, many new amendments have overcome and hence a company needs to comply with these amendments as those are mandatory w.e.f. 1-4-2014. Some of the amendments with respect to the books of accounts and keeping the books of accounts have been presented here: Books of Accounts [Section 2(13)] of the … Continue reading How to keep books of account as per new companies act

HRA Deduction- What if landlord doesn’t give PAN Details

Applicability: Central Board of Direct Taxes (CBDT) has vide CIRCULAR NO. 8/2013, Dated: Dated: October 10, 2013 said if annual rent paid by the employee exceeds Rs 1,00,000 per annum, it is mandatory for the employee to report PAN of the landlord and other details of their landlord on a plain A-4 size paper before submitting it to their employer. … Continue reading HRA Deduction- What if landlord doesn’t give PAN Details

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