plz explain with example of below section:::


Special provision for full value of consideration for transfer of assets other than capital assets in certain cases.—(1) Where the consideration received or accruing as a result of the transfer by an assessee of an asset (other than a capital asset), being land or building or both, is less than the value adopted or assessed or assessable by any authority of a State Government for the purpose of payment of stamp duty in respect of such transfer, the value so adopted or assessed or assessable shall, for the purposes of computing profits and gains from transfer of such asset, be deemed to be the full value of the consideration received or accruing as a result of such transfer.

CAN ANY ONE TELL ME WHAT IS MEANT BY CONTROL RETURNS WHICH ARE SENT BY BRANCH TO HEAD OFFICE IN BANKING INDUSTRY. THANKS IN ADVANCE.

plz tell me what are the control returns, which are sent by branch to head office in banking sector

1. WHEREAS, SUB RULE (2) OF RULE 5 OF THE SERVICE TAX RULES 1994 STIPULATES THAT EVERY ASSESSE SHALL FURNISH TO THE SUPERINTENDENT OF CENTRAL EXCISE AT THE TIME OF FILLING OF RETURN FOR THE FIRST TIME OR THE 31 DAY OF JANUARY 2008 WHICHEVER IS LATER AS LIST IN DUPLICATE OF (I) ALL THE RECORDS PREPARED OR MAINTAINED BY THE ASSESSEE FOR ACCOUNTING OF TRANSACTIONS IN REGARD TO A SERVICE (C) RECEIPT PURCHASE MANUFCTURE STORAGE SALE OR DELIVERY AS THE CASE MAY BE IN REGARD OF INPUTS AND CAPITAL GOODS D OTHER ACTIVITES SUCH AS MANUFATURE AND SALE OF GOODS IF ANY ALL OTHER FINANCIAL RECORDS MAINTAINED BY HIM THE NORMAL COURSE OF BUSINESS.

2.THE ASSESSEE HAS NOT FILED THE ABOVE RECORDS WHICH WERE TO BE FILED AT THE TIME OF FILLING OF THE FIRST ST-3 RETURN FOR THE PERIOD APRIL -2013 TO SEPT-2014 UNDER FULE 5(2) IBID.

3. IN VIEW OF THE ABOVE IT APPEARS THAT THE ASSESSEE HAS CONTRAVENED THE PROVISIONS OF RULE 5(2) OF THE SERVICE TAX RULES 1994 IN AS MUCH AS THEY HAVE FAILED IN FAILED IN FILING OF THE REQUISITE FINANCIAL RECORDS MAINTAINED BY THEM FOR THE FIRST TIME FILING OF THE RETURN . THE ASSESSEE IS THEREFORE LIABLE FOR PENAL ACTION UNDER SUB SECTION (2) OF SECTION 77 OF THE FINANCE ACT 1994

For the purpose of deduction of tax at source on any income payable in foreign currency, the rate of exchange for the calculation of the value in rupees of such income payable to an assessee outside India shall be the telegraphic transfer buying rate of such currency as on the date on which the tax is required to be deducted at source adopted by the State Bank of India

No such rate is available on the SBI Website.
How is this practically followed then. Does anyone considers the SBI’s Telegraphic Transfer Buying Rate?

Dear Experts

I am unable to understand section 152 (6) of companies act 2013 regarding retirement of directors by rotation, can you please help me to understanding the crux of following matter with an example.

(6) (a) Unless the articles provide for the retirement of all directors at every annual
general meeting, not less than two-thirds of the total number of directors of a public company
shall—
(i) be persons whose period of office is liable to determination by retirement of
directors by rotation; and
(ii) save as otherwise expressly provided in this Act, be appointed by the
company in general meeting.
(b) The remaining directors in the case of any such company shall, in default of, and
subject to any regulations in the articles of the company, also be appointed by the company
in general meeting.
(c) At the first annual general meeting of a public company held next after the date of
the general meeting at which the first directors are appointed in accordance with clauses (a)
and (b) and at every subsequent annual general meeting, one-third of such of the directors
for the time being as are liable to retire by rotation, or if their number is neither three nor a
multiple of three, then, the number nearest to one-third, shall retire from office.
(d) The directors to retire by rotation at every annual general meeting shall be those
who have been longest in office since their last appointment, but as between persons who became directors on the same day, those who are to retire shall, in default of and subject to
any agreement among themselves, be determined by lot.

e) At the annual general meeting at which a director retires as aforesaid, the company
may fill up the vacancy by appointing the retiring director or some other person thereto.
Explanation.—For the purposes of this sub-section, “total number of directors” shall

sir/ma'am

a return was filed wrongly on 13th may 2015.
by mistake the html error message was overlooked. error code was t-fv-3141 (challan details mentioned in stmt not present in challan file imported). since the csi file was incompletely downloaded, we tried to revise the return by requesting for conso file. the site took us to 'request for online correction', where we added the challan to the statement. we submitted the correction statement, but now that is also showing as processed with defaults. please tell me why and how to proceed further, asap.

Dear Sir,

I need filled or sample of Canara bank Stock Statement NF-902 for Retail Industry. I'll be grateful if you send me the same to My Email address: ramkannak@gmail.com.

I am eagerly awaiting for your reply.

Thanks & Rgds,

RAM KANNA k
ACCOUNTANT

Please somebody tell me the process to convert society into trust in Rajasthan

Can anyone explain the meaning of below provision of section 52 (1) of companies act, 2013 (Application of premiums received on issue of shares):

.......... and the provisions of this Act relating to reduction of share capital of a company shall, except as provided in this section, apply as if the securities premium account were the paid-up share capital of the company.

Thanks