Daily Archives: August 17, 2015

SEBI ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS REGULATIONS 2015

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, AUGUST 14, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 14th August, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2015 No. SEBI/LAD-NRO/GN/2015-16/008.─ In exercise of the powers conferred… Read More »

SEBI DELISTING OF EQUITY SHARES (SECOND AMENDMENT) REGULATIONS 2015

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI,AUGUST 14 , 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 14th August, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) (SECOND AMENDMENT) REGULATIONS, 2015 No. SEBI/LAD-NRO/GN/2015-16/010.─ In exercise of the powers conferred by section… Read More »

Time limit to file refund claim

Q: Whether Time limit to file refund claim is applicable to refund of tax paid at insistence of department ? Where tax has been paid at insistence of department without any adjudication/assessment order, refund of said tax would not be governed by time-limit of section 11B CESTAT, MUMBAI BENCH C.K.P. Mandal v. Commissioner of Service Tax,… Read More »

Partners remuneration on net profit

Q: Whether for the purpose of calculation of partners remuneration , Interest earned on FDRs etc to be excluded as this income will come under the “head income from other sources”  ?  OR Q Partners remuneration has to be calculated on the income shown under the head “Income  from Business or Profession” or on Net profit… Read More »

Annual Compliance for Listed Company

Annual Compliance for Listed Company under Listing Agreement Subject Section & Rules Particular of Compliance Reconciliation of Share Capital Audit 47C Half yearly within 30 days from the end of Half year. Share Transfer Audit 55A Quarterly, within 30 days from the end of each quarter Shareholding Pattern 35 Quarterly, within 21 days from the… Read More »

Revised monetary limit for filing appeal before ITAT

Q: Whether revised monetary limit for filing appeal before ITAT is applicable to pending appeals ? Yes ,Where CBDT Instruction No. 5 of 2014 revising monetary limit to Rs. 4 lakhs for filing appeal before Tribunal apply to pending appeals also, as monetary limit of appeal filed by revenue was less than Rs. 4 lakhs,… Read More »

PENALTIES IN INCOME TAX ACT

PENALTIES IN INCOME TAX ACT [table id=12 /] Note : No penalty is imposable for any failure under sections 271(1)(b), 271A, 271AA, 271B, 271BA, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB, 271FB, 271G, 271GA, 271H, 271-I, 272A(1)(c) or (d), 272A(2), 272AA(1), 272B, 272BB(1), 272BB(1A) and 272BBB if the person or assessee proves that there was… Read More »

OFFENCES AND PROSECUTIONS IN INCOME TAX

OFFENCES AND PROSECUTIONS [table id=13 /] Notes : No person is punishable for any failure under section 276A, 276AB or 276B if he proves that there was reasonable cause for such failure (vide section 278AA). (a) Prosecution for offences under section 275A, section 275B, section 276, section 276A, section 276B, section 276BB, section 276C, section 276CC,… Read More »

DEDUCTIONS IN INCOME TAX

ALLOWANCES  DEDUCTIONS IN INCOME TAX ACT 1961 [table id=14 /] Notes: Deduction is limited to whole of the amount paid or deposited subject to a maximum of Rs. 1,50,000. This maximum limit of Rs. 1,50,000 is the aggregate of the deduction that may be claimed under sections 80C, 80CCC and 80CCD. The sums paid or… Read More »

Foreign Contribution Regulation Act 2010 FCRA

Foreign Contribution Regulation Act 2010 FAQ’S on Foreign Contribution (Regulation) Act 2010 For Complete Act Click Q.1 What is foreign contribution? Ans. As defined in Section 2(1)(h) of FCRA, 2010, “foreign contribution” means the donation, delivery or transfer made by any foreign source, – (i)  of any article, not being an article given to a person*… Read More »