important sections of companies act

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Payment above Rs 5000 by govt to be made digitally


Any Payment above Rs 5 000 to Suppliers contractors grantee loanee institutions etc by Government Departments to be now made through e Payment to attain the goal of complete digitization of Government payments In order to attain the goal of complete digitization of Government payments the Ministry o

Govt asks employees to use debit card for personal transaction


Government of India takes policy decisions to encourage cashless electronic transactions Asks the Government employees to take the lead and maximize the usage of Debit Cards for personal related transactions instead of cash In the recent years advancements in banking technology progress in mobile ba

Bank official suspended for not following RBI guidelines


Action taken in cases of bank officials involved in carrying out irregular transactions violative of RBIs instructions post demonetisation of Specific Bank Notes by the Government w e f midnight of 8th November 2016 Pursuant to the decision of the Government to demonetise Specified Bank Notes w e f

Old 500 Note cannot be used at Petrol Pump and for Air Ticket Purchase wef 03.12.2016


MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS NOTIFICATION New Delhi the 30th November 2016 S O 3598 E In exercise of the powers conferred by sub section 2 of section 26 of the Reserve Bank of India Act 1934 2 of 1934 the Central Government hereby further amends the notification of the Governme

ICAI President's Message - December 2016


My dear professional colleagues Indian accountancy profession has been acting responsibly offering its complete support to the Government of India in its initiatives particularly those relating to economy More recently we played a very crucial role in the Governments anti black money drive Income De

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Experts Opinions

sec152(6) of companies act 2013


whether sec 152 6 is applicable to sec8 companies or not

St on contract manpower invoice


Dear All I am giving a invoice here please give me a clarification about RCM on that invoice Salary 16000 Esi 1040 PF 1280 Service Charge 10000

Related party transactions


Dear Sir Whether loan taken given by company to from directors are to be recorded in register u s 189 and whether it will be disclosed in notes to accounts as per As 18

Registration under money lending act, karnataka


Kindly let me know that what is the procedure to get registered under the above act the documents submitted in connection with such registration and the fees involved in the registration process

Giving bus on contract basis to private company


HI EXPERT WE HAVE BUSSES WHICH ARE USED FOR TRANSPORTATION OF WORKERS OF PRIVATE LIMITED COMPANY UNDER WHICH SERVICES THIS CLASSIFICATION COME

Discussion

Meaning of serve u/s 153 of income tax act 1961

what is the meaning of serve u s 153 for the purpose of completion of assessment as per 147

Society act

wheather a charitable society registered under society act can donate building to a trust what are the provision rel ating to 11 or 11a under income tax act

Substantial cash transaction

We are HUF and have pan card in name of HUF and current account in the name of HUF Banks have taken my pancard and my sons pan card for purpose of Authorized Signatory KARTA and mapped to the HUF current account Now if i login to my and my sons income tax online its showing with Substantial Cash Tra

Benefits of Debit Card Activation – FAQs

Here are given some of the major benefits of Debit Card activation in the form of Frequently Asked Questions FAQs and their Answer format QUESTION 1 Why it is important to have active debit cards ANSWER Debit Card makes your payments much more convenient and secure through an electronic payment faci

chargeability of Service tax and vat on works contract

owners of a building are undergoing addition and alteration of area in existing flat thru civil Contractor are owners liable to pay service tax on such construction and if yes then at what rate and how also applicable rate of VAT

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Impact of Demonetisation on different asset class


Writing about the hottest topic could be a difficult job Many things are already being analyzed and discussed all around Since this space is among the favourite platform of its readers for Personal Finance I will try and keep away from talking about the politicization of this move As usual we will s


Removal of chairman under companies act, 2013 - Tata Sons Case


On 24th October 2016 Cyrus Mistry was removed as the chairman of Tata Sons and replaced by Mr Ratan Tata who has been appointed as an interim chairman for four months The grounds of removal and Cyrus Mistrys own defence are not discussed here For our perspective the manner in which this move was car


A complete list of Penalties under Income Tax Act, 1961


1 Penalty under Section 270A Penalty for under reporting and misreporting of income If during the assessment proceedings it is found that an assessee have under reported or misreported his income then penalty u s 270A will be imposed on the Assessee This is the harshest penalty that can be imposed b


Currency Ban: How penalty cannot be imposed on cash deposits in bank account under Income Tax Act, 1961


Introduction We are going through a very unusual phase of Indian economy where people are rushing nowhere carrying cash in hand I have experience it first time when people are ready to pay the full amount of tax or they are ready to even forego 50 of the amount still they are not able to buy peace o


Provisions related to related party transactions


The parent Section under the Companies Act 2013 related to the related party transactions i e Section 188 read with the relevant Rules made thereunder specifies as 1 Except with theconsent of the Board of Directorsgiven by a resolution at a meeting of the Board and subject to such conditionsas may b


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Updated on : 12/7/2016 12:45:18 AM


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