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Posted On:  1 year ago


Ease of Doing Business – Paperless PAN&TAN application process.

For fast tracking the allotment of PAN and TAN to company applicants, Digital Signature Certificate(DSC) based application procedure has been introduced on the portals of PAN service providers M/s NSDL eGov and M/s UTIITSL. Under the new process PAN and TAN will be allotted within one day after completion of valid on-line application.

article author One Roof Consultant

Posted On:  1 year ago


Minutes as per Secretarial Standard 1

This article gives a brief introduction on Minutes as per Secretarial Standards. All the business houses, expect to have a transparent and uniform governance of all the activities of the company so Secretarial Standards was introduced which acts as a benchmark in resolving the governance issues.

article author CS Perila Sheth

Posted On:  1 year ago


Central Registration Centre

This article gives a brief information on a new intiavtive by MCA in the name of CRC with only objective of quick company formation in India. CRC is new concept so it will take time to run smoothly. It will help to bring uniformity in Company Incorporation whereas ROC in different state had their own set of requirements.

article author CS Perila Sheth

Posted On:  1 year ago


CBDT notifies 37 new districts as backward areas under section 32AD of the Income Tax Act 1961

CBDT notifies 9 districts in the State of Telangana, 11 Districts in the State of West Bengal and 17 Districts in State of Bihar as backward areas under the first proviso to clause (iia) of sub-section (1) of section 32 and sub-section (1) of section 32AD of the Income Tax Act 1961

article author One Roof Consultant

Posted On:  1 year ago


Income Declaration Scheme 2016- Revised deceleration enabled under the Scheme

In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199 of the Finance Act, 2016 (28 of 2016), the Central Board of Direct Taxes, makes the following rules further to amend the Income Declaration Scheme Rules, 2016 (hereinafter referred to as the principal rules) namely:-

article author One Roof Consultant

Posted On:  1 year ago


Income Declaration Scheme, 2016: Revised Payment Schedule

In exercise of the powers conferred by section 187 of the Finance Act, 2016 (28 of 2016), the Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue), notification number S.O.1830(E) dated the 19th May, 2016, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) dated the 19th May, 2016

article author One Roof Consultant

Posted On:  1 year ago


Income Tax Department to issue 7 lakh letters seeking Information in respect of High Value Non PAN Transactions

Under the Annual Information Returns (AIR), various types of high-value transactions were being reported to the Income Tax Department. *These include reporting of cash deposits of Rs.10,00,000 or more in a saving bank account, sale/purchase of immovable property valued at Rs. 30,00,000 or more, etc. Many of these transactions do not have PAN linked to it. The Department has details of about 90 lakh such transactions for the period 2009-10 to 2016-17

article author One Roof Consultant

Posted On:  1 year ago


Passing of Resolution by Circulation

The Chairman of the Board or in his absence, the Managing Director or in his absence, the Whole time Director and where there is none, any Director other than an Interested Director, shall decide, before the draft Resolution is circulated to all the Directors, whether the approval of the Board for a particular business shall be obtained by means of a Resolution by circulation

article author CS Perila Sheth

Posted On:  1 year ago


Secretarial standard on meetings of the board of directors

Secretarial Standard-1 (SS-1) on “Meetings of the Board of Directors”, issued by the Council of the Institute of Company Secretaries of India and approved by the Central Government. Adherence by a company to this Secretarial Standard is mandatory, as per the provisions of the Companies Act, 2013.

article author CS Perila Sheth

Posted On:  1 year ago


Reg. Import Dur exemption to Micro/Mini SD cards

Extension of benefit of Notification No. 24/2005 dated 01.03.2005 (Sr. No. 3) {as amended by Notification No. 132/2006-Customs dated 30.12.2006 (Serial No. 15)} to Micro/Mini SD cards – reg. Representations have been received from the trade on the subject above.

article author One Roof Consultant

Posted On:  1 year ago


Due date of Filing Income Tax Returns for Financial Year 2015-16 Assessment Year 2016-17

Filing of Income Tax Return is tedious task and should be complete well before the due dates. Most of times there are confusion in relation to due dates applicable for various type of whose earn different kind of Income.The point to be noted is Basic limit include all Income without any deduction in Section 80C to 80U and any other deduction. So in case your Income is 3 Lakhs .

article author CA Chirag Chauhan

Posted On:  1 year ago


Master Circular – Facility for Exchange of Notes and Coins

Please refer to the Master Circular DCM (NE) No.G-2/08.07.18/2015-16 dated July 01, 2015 containing instructions on the facility for exchange of notes and coins. A revised version of Master Circular on the subject is annexed for your information and necessary action. This Master Circular is placed in our website www.rbi.org.in.

article author One Roof Consultant

Posted On:  1 year ago


Signing of Advance Pricing Agreements by CBDT

The Central Board of Direct Taxes (CBDT) entered into seven (7) Unilateral Advance Pricing Agreements (APAs) today, i.e., 18th July, 2016, with Indian taxpayers. Some of these agreements also have a “Rollback” provision in them. The APA Scheme was introduced in the Income-tax Act in 2012 and the “Rollback”

article author One Roof Consultant

Posted On:  1 year ago


Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O.748 (E), dated the 3rd August, 2001,

article author One Roof Consultant

Posted On:  1 year ago


Acceptance of Fixed Deposit Receipts (FDRs) by Clearing Corporations

1) Currently, Fixed Deposit Receipts of banks are accepted by Clearing Corporations as eligible collateral from the participants. 2) It is observed that some banks who are also trading members/ clearing members on the Stock Exchange/Clearing Corporation have placed Fixed Deposit Receipts issued by themselves as Collateral, with the Clearing Corporation.

article author CS Perila Sheth

Posted On:  1 year ago


New Features Released For NPS Subscribers

Pension Fund Regulatory and Development Authority (PFRDA) takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, recently many new functionalities have been released to provide the ease of operation for the benefit of subscribers and nodal offices

article author One Roof Consultant

Posted On:  1 year ago


Universal roll-out of Public Financial Management System (PFMS) for Central Sector Schemes

The undersigned is directed to state that at various review meetings, the Hon’ble Prime Minister has emphasized the need for improved financial management in implementation of Central Plans Schemes so as to facilitate Just-in-Time Releases and monitor the usage of funds including information on its ultimate utilization.

article author One Roof Consultant

Posted On:  1 year ago


Companies (cost records and audit) Amendment Rules, 2016

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013} (hereinafter referred as the Act), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules,2014, namely

article author CS Perila Sheth

Posted On:  1 year ago


Insurance and its types

I am sure most of us have insurance policy. Infact now a days having an insurance has become a necessity which was earlier considered as necessary. We want that in the event of any mishap our kids should be insured so we get insurance. As soon as we start earning we want to cover up the cost of health so we get a policy. When we are old we want to insured for our medical expenses so again we look for an appropriate insurance policy. With so many life events, demanding money outflow in the event of mishap insurance is of best help. So what are different kinds of insurance present? Let us have a look.

article author Dhairya Bhuta

Posted On:  1 year ago


Additional FAQ’s on the Income Declaration Scheme, 2016

The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) came into effect on 1st June, 2016. To address doubts and concerns raised by the stakeholders, the Board has issued three sets of FAQs vide Circular Nos. 17, 24 & 25 of 2016. In order to address further queries received from the public relating to the Scheme, following clarifications are issued.

article author One Roof Consultant