Daily Archives: October 19, 2015

Additional time granted for setting up of Central KYC records registry under Prevention of Money laundering Act

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 11th September, 2015 G.S.R. 693(E).—In exercise of the powers conferred by sub-section (1) read with clauses (i), (j), (jj), (jjj) and (k) of sub-section (2) of section 73 of the Prevention of Money laundering Act, 2002 (15 of 2003), the Central Government makes the following… Read More »

Employee can file winding up of Employer Company for unpaid salary

Whether outstanding or unpaid salary/wages of workman/employee is a ‘debt‘ to be paid by company ? Held, yes Whether no provision of Companies Act excludes dues to be received by employee be it, in service or former employee, from character of a debt to be paid by company ? Held, yes Whether workman is a… Read More »

Deducation of section 10A is available for entire year even if STPI registration is obtained in last month of previous year

Facts of the Case :- Assessee was engaged in software development and export . Assessee was registered as STPI unit on 4-3-2000 . Assessee claimed deduction under section 10A . Issue : According to department, assessee was entitled to benefit of deduction under section 10A only in respect of profits earned after it had been… Read More »