important sections of companies act


ICAI Reconstitutes Group to to review the provisions of CA Act, 1949

No M 626 15 2017 23rd April 2017 ALL MEMBERS OF THE COUNCIL Madam Dear Sir The President in terms of the authority given to him by the Council at its 363rd meeting held on 12th February 2017 has re constituted the Group to review and realign the provisions of Chartered Accountants Act 1949 and the C

GST Act, Rules and Analysis

GST Act CGST Act IGST Act UTGST Act GST Compensation to the States Act NewGST Rules Composition Rules Valuation Rules Transition Rules Input Tax Credit Rules Revised Invoice Rules Revised Payment Rules Revised Refund Rules Revised Registration Rules Revised Return Rules Draft GST Rules Accounts and

Group constituted to do a SWOT analysis for the Profession and Institute

Swot analysis for the profession and Institute actionables thereon and in process also identify and analyze the strategic alliances ALL MEMBERS OF THE COUNCIL Madam Dear Sir While the Indian Chartered Accountancy profession commands a ubiquitous position leveraging its inherent strength in Accountin

Implementation guide on Auditor's report

Implementation Guide on Auditors Report under Rule 11 d of Companies Audit and Auditors Amendment Rules 2017 and Amendment to Schedule III to Companies Act 2013 Pursuant to Notification No G S R 307 E and Notification No G S R 308 E dated 30th March 2017 Introduction The Ministry of Corporate Affair

Over 60000 persons identified for investigation into excessive cash sales

Over 60 000 persons including 1300 high risk persons identified for investigation into claims of excessive cash sales under Central Board of Direct Tax CBDT s Operation Clean Money OCM Extensive enforcement action by the Income Tax Department ITD has led to seizures worth over Rs 818 crore and detec

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Experts Opinions

Excise duty on Power generation companies

I want to ask whether excise is levied on power generating companies As it is a matter of state so service tax is not levied on distribution and transmission of power then what type of tax is levied on the transmission and distribution of power

Depreciation as per companies act. 2013

Dear Experts on construction of factory we have incurred 2065790 the factory was put to use from 11 3 2017 however as per schedule II depreciation rate is specified SLM 3 17 WDV 9 50 useful life is 30 years pls clarify which method we have to opt to charge dep weather 3 17 SLM or 9 50 WDV also let m

CA Act, 1949

if a ca in service is appointed as an internal auditor of any company then whether he is deemed to be a member in practice u s 2 2 of ca act 1949 and if yes whether he will be penalised u s 24

In works contact in haryana vat kitne % par vat carge hoga a

Dear members please guide me that in Haryana vat on works contract me vat kutne portion par hoga

Gst Practioner

please provide me name of certification authority of GST practitioners in india


Declaration by director u/s 73 of the companies act, 2013

Can anyone please share me the format of declaration bydirectors that the loan given by the director is out of owned funds as per Section 73

Is epf act applicable?

one of my client have 30 employee and each has salary greater than 26000 is EPF act applicable to company

Ni act

Can anyone tell me what and how to take legal action in real life in case of bounce of cheque against the party i e how to send notice it shall be on stamp paper or not and all such details also

Forex transaction entry

Please advice for the below given forex transaction Eg invoice Raised for 50000 Rs 70 and payment received 49935 Rs 69 50 Please advice what will be the entry and how it will reflect in the customer ledger in our book

Bonus act - calculation of allocable surplus

As per schedule III of the act the company needs to deduct 8 5 of the paid up share capital from the gross profit calculation But what if company having 4 different units and different location and having its own profit and loss account And there is only one balance sheet Consolidated which consists

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A New Outbound Horizon For Indian Companies

Voila An Indian Company can legally abode an outbound flight The Point of Authority The Ministry of Corporate Affairs in consonance with the Reserve Bank of India has inserted certain section and rules in the nascent Companies Act 2013 On 13th April 2017 in lieu to the powers conferred by Section 46

Normal Sale/Purchase transactions - Embedded Derivatives as per Ind-AS IFRS

In continuation of previous articles on Double double test Caps Floor Call Put Prepayments Foreign Currency Bonds Credit derivatives leases related options Embedded Derivatives as per Ind AS IFRS Normal sale and purchase transactions i e non financial instruments which are being done based on delive

Impact of GST on hotel/restaurant sector

As we all know The Goods and Service Tax GST bill was passed in the Upper House of the Indian Parliament The Rajya Sabha To be implemented from 01st July 2017 A one nation one tax slogan which will replace the plethora of taxes levied under different names like service tax value added tax VAT entert

Quick glance at new sections inserted in IT Act 1961

NEW SECTIONS INSERTED IN INCOME TAX ACT 1961 Section W E F Definition Explanation 50 CA 01 04 2018 Where The Consideration Received Or Accruing As A Result Of The Transfer By An Assessee Of A Capital Asset Being Share Of A Company Other Than A Quoted Share Is Less Than The Fair Market Value Of Such

Time of Supply of services as per CGST Act, 2017

Concept of Time of Supply Tax is leviable under GST upon occurrence of the Taxable event Supply But the tax so levied shall be liable to pay at the time as determined by the Time of Supply provisions The Tax rates Exchange rates exemptions and abatements keep changing from time to time So it is nece

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Updated on : 4/27/2017 3:37:11 AM

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